Patent ID: 7716113

Claim:
A method comprising: receiving by at least one server a first order from a first user and a second order from a second user, wherein the first order comprises a request to place a bet on a sporting event and further comprises or defines an amount that the first user wishes to wager on the sporting event, wherein the second order comprises a request to place a bet on the sporting event and further comprises or defines an amount that the second user wishes to wager on the sporting event, wherein the first user has an account that has at least one balance associated therewith, wherein the second user has an account, and wherein the first order and the second order are received from the first user and the second user via computer systems in use by the respective first user and second user, the computer systems being coupled to the at least one server over a communications network; determining by the at least one server a risk value for the first order, wherein the risk value comprises an amount that the first user could lose on the bet associated with the first order; determining by the at least one server that the risk value does not exceed at least one of (i) the at least one balance and (ii) at least one value determined from the at least one balance; approving by the at least one server the first order based at least in part on determining that the risk value does not exceed the at least one (i) the at least one balance and (ii) the at least one value determined from the at least one balance; based at least in part on approving the first order, making by the at least one server the first order available for matching with other orders; matching by the at least one server the first order with the second order, wherein matching the first order with the second order results in: the second user owing a payment to the first user when the first user wins the bet associated with the first order, and the first user owing a payment to the second user when the second user wins the bet associated with the second order; receiving by the at least one server at least one result of the sporting event; based at least in part on the at least one result, determining by the at least one server that the first user owes a payout to the second user; based at least in part on determining that the first user owes the payout to the second user: (i) determining by the at least one server a first amount to transfer from the account of the first user to an account of a third-party; and (ii) determining by the at least one server a second amount to transfer from the account of the third-party to the account of the second user; and after the first user fails to make a payment regarding the first amount, transferring by the at least one server the second amount from the account of the third-party to the account of the second user, wherein the second amount is transferred from the account of the third-party to the account of the second user even though the first user fails to make a payment regarding the first amount.