Wettsystem

wettsystem

Eine Untersuchung des Fibonacci-Wettsystems Lohnt es sich, auf das Fibonacci- Wettsystem zu vertrauen?. Jan. Es gibt zahlreiche Taktiken die man beim Wetten anwenden kann. Eine davon ist die Absicherung, die von guten Tippern angewendet wird um. Das Fibonacci Wettsystem beruht auf einer progressiven Spielweise bei Sportwetten. Die Wettstrategie ist auf die Unentschieden Tipps ausgerichtet. Infos , hier.

Conveniently, the method may further comprise the steps of checking the parameters input by the user for logical inconsistencies therebetween and checking the opening times of the financial market.

Preferably, the method further comprises the step of providing at least one other data feed to a source of data concerning one or more other financial markets.

Conveniently, the step of receiving parameters from the user preferably includes the step of receiving parameters relating to an aspect of the one or more other financial markets.

Advantageously, the step of calculating the fixed-odds price for the bet preferably includes the step of calculating a correlation matrix containing information concerning the financial market and the one or more other financial markets.

Preferably, the system further comprises the step of providing a storage facility, accessible by the central processing machine, for storing information relating to bets.

Conveniently, the step of calculating odds includes the step of calculating a hedging factor based on information concerning previously placed bets obtained from the storage facility.

The method may further comprise the steps of: In yet another embodiment, a computer program comprises computer program code means adapted to: The computer program may be embodied on a computer readable medium or otherwise operable on a computer.

In still another embodiment, a central processing machine having a data feed to a source of data concerning a financial market is operable to calculate fixed odds, based on parameters input by a user and data obtained from the data feed.

Conveniently, the data feed to the source of data concerning the financial market may comprise a data feed to real-time information concerning the financial market.

Advantageously, the data feed to the source of data concerning the financial market may comprise a data feed to at least historical data concerning the financial market.

Preferably, the data feed is connected to the source of data concerning the financial market over a first data communications network such as the Internet or a leased line.

Advantageously, at least one other data feed may be provided to a source of data concerning one or more other financial markets. The central processing machine may further comprise a storage facility for storing information relating to bets.

The central processing machine may also have means to calculate a price at which to offer to purchase a previously placed bet from the user.

Advantageously, the central processing machine may further comprise a management terminal operable to display information regarding the operation of the betting system to an administrator thereof.

Additional characteristics and advantages will be apparent from the following detailed description of preferred embodiments which proceeds with reference to the accompanying drawing.

With reference to FIG. A computer program embodying an aspect of the betting system is loaded onto the central processing machine 1 , as will be described in greater detail below.

The central processing machine 1 is linked via a first data communications network 2 to a plurality of user terminals 3.

Preferably, the first network 2 is the Internet. The user terminals comprise PC's, or other suitable machines, running an appropriate operating system to interface with prospective customers, for instance a Windows or UNIX type operating system.

The central processing machine 1 is further connected via a second data communications network 4 to two data feeds, one of which is a data feed 5 to a source of real-time market information, and the other of which is a data feed 6 to a source of historical market information.

Preferably, the second network 4 is the Internet or a leased line. Examples of real-time market quotes data feeds are those provided by financial information providers such as Reuters, Bloomberg, Bridge, DBC, etc.

The primary requirement for this data link is that it should be real-time, which is to say that the quotes retrieved via the data link are up-to-the-second real-time market quotes.

The betting system of FIG. The data storage facility is connected to an archival data storage facility 8 , which is operable to retain information on a plurality of tapes or other long-term storage media.

The betting system includes an E-cash or credit card payment system 9 , which is linked to the central processing machine 1 by a third data communications network An accounting system 11 is also included in the betting system, this accounting system being directly linked to the central processing machine 1.

A management terminal 12 also comprises part of the betting system. This management terminal 12 is linked to the central processing machine 1 via a fourth data communications network 13 , which is preferably the Internet.

In operation, an individual user is able to log on to a user terminal 3 for the purpose of placing a fixed-odds financial bet. A user-id and password, provided to the individual by the administrator of the betting system, may be required to do so.

In practice, the user terminal 3 may comprise a dedicated terminal in a public betting facility, or may alternatively comprise the user's own PC.

When the user attempts to log on to the betting system at the user terminal 3 , the user terminal 3 connects to the central processing machine 1 via the first network 2.

If a password is required, the password must be accepted by the central processing machine 1 before the user is allowed to log on to the betting system.

The user is now able to place a fixed-odds financial bet using the betting system. The user terminal 3 presents the user with a suitable interface for doing so, this interface comprising a number of menus or the like through which the user may navigate to glean information or select bet parameters.

Bet parameters that the user may select may include, among others: Once the bet parameters are decided upon by the user, these parameters are submitted to the central processing machine 1 via the first network 2.

The first step performed by the central processing machine 1 upon receipt of the bet parameters from the user terminal 3 is to ascertain whether or not the bet defined by the bet parameters is within reasonable reach of current market prices.

In order to decide whether or not this is the case, the central processing machine 1 gathers information concerning the current market prices from the data feed 5 to the source of real-time market information.

If the data derived therefrom indicates that there is no realistic possibility of the market price changing with the rapidity required by the bet, then the central processing machine 1 will reject the bet.

Next, the bet parameters input by the user are checked by the central processing machine 1 for logical inconsistencies, and the bet is rejected if such inconsistencies are found to be present.

For instance, if a user has input bet parameters defining a bet that a certain financial index will remain between a high value of and a low value of , the central processing machine 1 will determine that the bet is logically inconsistent and reject the bet.

A further step performed by the central processing machine 1 on receipt of a set of bet parameters from user terminal 3 is to check the opening times of the relevant financial markets.

The central processing machine 1 has, for this purpose, a link to a source of information containing the opening hours and public holidays of all of the markets upon which bets are offered.

If a user is allowed to bet upon the performance of a market during a period for which that market is closed, the user gains an unfair advantage and thus such a bet would be rejected.

Once it has been established by the central processing machine 1 that the bet parameters input by the user define a valid bet, the next step is to determine the real-time raw market values from which to calculate the price of the bet.

In order to do this, the central processing machine 1 accesses the data feed 5 to the source of real-time market information.

The data derived therefrom may include current market prices, option quotes, interest rate levels, dividend yields in the case of stocks or stock indices , or carrying costs i.

The central processing machine 1 may also access the data feed 6 to the source of historical market information, and the data gathered therefrom may include historical closing prices for the relevant markets.

Once a set of valid bet parameters have been received by the central processing machine 1 and the relevant information has been gathered from the data feeds 5 , 6 , the central processing machine 1 uses the information to calculate the odds that will be offered to the user for the bet.

The first step in the process is to calculate the implied volatility of the or each market upon which the bet is based.

The volatility of a market is defined as the amount by which the market fluctuates during a given period, and is often defined as the annualized standard deviation of the natural logarithm of the price returns of the daily closing values of the market.

The implied volatility is the market volatility that the listed options market implies for the future, market volatility being a major factor in the determination of the price of an option.

If the price of the listed options relating to a given market for a given time period is known, this FIGURE can be reverse-engineered to calculate the future volatility of the market implied by that option price.

Various techniques exist for this reverse engineering operation, the most commonly used of which is an algorithm based on the Black and Scholes option pricing model, however the skilled person will realize that any of several alternative algorithms may be used instead.

A standard option pricing model such as the Black and Scholes model assumes that the financial markets follow a log-normal distribution.

This assumption does not, however, accurately reflect the market panics like the stock market crash , which occur with a higher frequency than would be expected in a purely lognormal distribution.

Options with different expiry dates also trade at different implied volatilities, reflecting different expectations of market volatility over different time periods.

Since there will likely not be any option with exactly the same expiry date and target price as the bet, interpolation will be used to arrive at the best estimate of the volatility for the bet.

To calculate the volatility to be used to price the bet, options prices are gathered from the data feed 5 to the real-time source of market information.

The implied volatilities of the options with strike prices closest to the barrier or target level of the bet, and with expiry dates closest to the expiry date of the bet, are computed.

These implied volatility points are then interpolated to arrive at the implied volatility most appropriate for the expiry date and barrier or target level of the bet if the bet has several barrier or target levels, the level that will lead to the highest selling price for the bet may be used.

This interpolated implied volatility is used by the central processing machine 1 to calculate the odds for the bet. It is also necessary for the central processing machine 1 to take into account the growth of the market or markets in question.

In order to derive this value, the interest rate and other components of the carrying cost for each market extracted from the data feed 5 to the real-time source of market information are required.

For stocks or stock indices, the growth of the market is typically approximated as being the interest rate minus the annualized dividend yield.

In a similar manner to that described above, the interest rate for an arbitrary time period may be estimated by interpolating between the deposit rates for earlier and later maturities to arrive at an appropriate value.

For foreign exchange rates, the growth rate is defined as the difference between the deposit rates in each currency, and for other markets such as commodities, the growth rate incorporates factors such as storage or delivery costs, and insurance fees.

A complex bet may involve predictions on the performances of several different markets, and if such a bet is placed then a correlation matrix for these different markets will need to be computed.

Such a correlation matrix is computed by calculating the correlation coefficients of the relevant markets over a period of historical data obtained from the data feed 6 to the source of historical market information.

Ideally, this time period is in proportion to the length of the bet. Once all of the necessary information has been gathered or computed by the central processing machine 1 , the central processing machine 1 proceeds to calculate the odds for the bet defined by the bet parameters.

There are various ways in which this may be performed for each type of bet that might be placed by the user. Common bets that might be placed include:.

An example of how the price of an expiry range bet might be calculated is as follows:. The formula for the underlying asset price S is given by: The variable z can be understood by considering the changes in the value thereof over small intervals of time.

Consider a small interval of time having a duration of dt and define dz as the change in z during dt. There are two basic properties that dz must have for z to be following a Wiener process: Solving this equation, we obtain: The present value of this bet thus becomes: Then, the variable x is defined as.

Let S be the initial market price, and let. The price of the expiry range bet, defined by U and D, is then given by:. Other formulae for different types of bets may readily be derived by employing the same principles.

The type of formula employed is also not essential to the working of the system—many different methods of calculating odds exist, and any of these may be used in the system.

Once the price of the bet defined by the bet parameters input by the user is determined, a house mark-up is added and the bet is offered to the user via the user terminal 3.

Since the system operates on real-time values derived from the constantly fluctuating markets, the customer is allowed only a short time in which to decide whether or not to purchase the bet at the calculated price.

This time period is, preferably, no more than thirty to sixty seconds, and the offer is withdrawn after this time. If the user decides to purchase the bet, he or she will be prompted to input a username and password if these were not input at an earlier stage.

This information is verified by the central processing machine 1 and, if it is accepted, will check the credit balance of the user on the accounting system If this reveals that the user has sufficient funds to purchase the bet, the transaction with the user is effected and the bet is recorded on the data storage facility 7.

Each user of the system may, on entering his or her valid username and password, view a list of outstanding bets that he or she has placed on a user terminal 3.

In order to provide this list, the central processing machine 1 retrieves information regarding the user's previously placed bets from the data storage facility 7.

The central processing machine 1 must, for each previously placed bet, determine whether the bet has: The central processing machine 1 derives this information by comparing the bet parameters with both real-time market information and historical market information for the relevant time period obtained via the data feeds 5 , 6.

The status of each previously placed bet is passed to the user terminal 3 for display to the user. If the user has won any of the bets, the central processing machine 1 instructs the accounting system 11 to credit the user's account accordingly.

The system may also be provided with a facility to offer to buy an unexpired bet back from the user. The price that is offered for a bet is calculated by first determining the value of the bet using similar techniques to those described above, with a house mark-up being included in the price.

As described above, the user is given no more than thirty to sixty seconds to decide whether or not to accept the price offered before the offer is withdrawn.

All of the transactions between the central processing machine 1 and the users of the system may be monitored by an administrator of the system at the management terminal As a further consideration, the administrator of the system may be concerned about his or her financial exposure and the system may accordingly include means to inform the administrator, in real-time, of the financial exposure via the management terminal There are four types of hedging ratio commonly used, namely the delta, theta, gamma and vega hedging ratios.

These ratios, along with the appropriate hedging techniques, are well known in the art. Successful bettors have the chance to win prizes or other benefits.

The administrator knows that under the assumption of efficient markets, no person may consistently forecast the financial markets, and therefore successful bettors are simply those that have been successful by chance.

However, tracking successful bettors may provide useful information for the administrator, such as useful clues for tracking down problems with this embodiment.

The administrator may also sell or provide the information comprised of the ongoing bets of the successful bettors, to third parties who may choose to use or rely upon this information on the belief that the successful bettors have a special gift rather than being simply lucky.

The betting system for calculating the fixed-price odds that may be offered to a prospective bettor is particularly well-suited to bets placed on the financial markets since the calculation of fixed-price odds is sufficiently difficult, time consuming and computationally intensive to make calculation thereof by humans inefficient for all but the largest of bets.

The system described herein allows an administrator of the system to offer reasonable and well-calculated odds in real-time to individual speculators betting small sums of money on an almost unlimited number of eventualities, without the need to employ highly-skilled staff to do so.

This service has not been available in the past. It will be obvious to those having skill in the art that many changes may be made to the details of the above-described embodiments without departing from the underlying principles thereof.

The scope of the present invention should, therefore, be determined only by the following claims. Year of fee payment: A fixed-odds betting system comprises a user terminal operable to accept parameters input by a user and relating to a fixed-odds bet on an aspect of a financial market; and a central processing machine having a data feed to a source of data concerning a financial market and means operable to calculate the fixed odds for the bet, based on at least some of the parameters input by the user and the data obtained from the data feed.

SUMMARY According to a first embodiment, a fixed-odds betting system comprises a user terminal operable to accept parameters, input by a user, relating to a fixed-odds bet on an aspect of a financial market; and a central processing machine having a data feed to a source of data concerning a financial market and means operable to calculate the fixed odds for the bet, based on at least some of the parameters input by the user and the data obtained from the data feed.

Common bets that might be placed include: An example of how the price of an expiry range bet might be calculated is as follows: The price of the expiry range bet, defined by U and D, is then given by: A method of operating a fixed-odds betting system including a central processing machine in communication with a data feed to a source of data concerning a financial market, and a user terminal in communication with the central processing machine, the method comprising the steps of: A method according to claim 1 , further comprising displaying the calculated fixed-odds price to the user.

A method according to claim 1 , further comprising: A method according to claim 1 , wherein the step of obtaining data concerning the financial market includes obtaining real-time data.

A method according to claim 1 , wherein the step of obtaining data concerning a financial market includes obtaining historical data representative of a history of market prices.

A method according to claim 1 , wherein the step of calculating the fixed-odds price comprises calculating an estimate of a future volatility of the financial market.

A method according to claim 7 , wherein: A method according to claim 1 , wherein: A method according to claim 1 , wherein the system further includes a data storage facility accessible by the central processing machine, and further comprising storing in the data storage facility information relating to previously placed bets.

A method according to claim 13 , further comprising reading from the data storage facility the stored information relating to previously placed bets, and wherein the step of calculating the fixed-odds price for the bet includes calculating a hedging factor based on the information concerning previously placed bets read from the storage facility.

Systems and methods for providing advertisements in a fantasy sports contest application. Systems and methods for roster management in fantasy sports contest applications.

Systems and methods for providing multi-level fantasy sports contests in fantasy sports contest applications. Systems and methods for using an interactive television program guide to access fantasy sports contests.

Systems and methods for integrating data mining and other marketing techniques with fantasy sports contest applications.

Systems and methods for integrating graphic animation technologies in fantasy sports contest applications.

Interactive television systems with digital video recording and adjustable reminders. Method and apparatus for the playing of different forms of jackpot games based on sports.

Methods and systems for presenting pari-mutuel betting options and constructing wagers. System and method for purchasing a financial instrument indexed to entertainment revenue.

System and method for forming a financial instrument indexed to entertainment revenue. Methods and systems for selecting and presenting content based on learned periodicity of user content selection.

Interactive media guidance application with intelligent navigation and display features. System and method for trading a futures contract based on a financial instrument indexed to entertainment dividends.

Systeme, verfahren, vorrichtung und benutzerschnittstellen für spielen und wetten. Computersystem und computerimplementiertes Verfahren zur Abwicklung von Wetttransaktionen.

Central and remote evaluation of responses of participatory broadcast audience with automatic crediting and couponing.

On-line wagering system with programmable game entry cards and operator security cards.

The user is now able to place a fixed-odds financial bet using the betting system. The user terminal 3 presents the user with a suitable interface for doing so, this interface comprising a number of menus or the like through which the user may navigate to glean information or select bet parameters.

Bet parameters that the user may select may include, among others: Once the bet parameters are decided upon by the user, these parameters are submitted to the central processing machine 1 via the first network 2.

The first step performed by the central processing machine 1 upon receipt of the bet parameters from the user terminal 3 is to ascertain whether or not the bet defined by the bet parameters is within reasonable reach of current market prices.

In order to decide whether or not this is the case, the central processing machine 1 gathers information concerning the current market prices from the data feed 5 to the source of real-time market information.

If the data derived therefrom indicates that there is no realistic possibility of the market price changing with the rapidity required by the bet, then the central processing machine 1 will reject the bet.

Next, the bet parameters input by the user are checked by the central processing machine 1 for logical inconsistencies, and the bet is rejected if such inconsistencies are found to be present.

For instance, if a user has input bet parameters defining a bet that a certain financial index will remain between a high value of and a low value of , the central processing machine 1 will determine that the bet is logically inconsistent and reject the bet.

A further step performed by the central processing machine 1 on receipt of a set of bet parameters from user terminal 3 is to check the opening times of the relevant financial markets.

The central processing machine 1 has, for this purpose, a link to a source of information containing the opening hours and public holidays of all of the markets upon which bets are offered.

If a user is allowed to bet upon the performance of a market during a period for which that market is closed, the user gains an unfair advantage and thus such a bet would be rejected.

Once it has been established by the central processing machine 1 that the bet parameters input by the user define a valid bet, the next step is to determine the real-time raw market values from which to calculate the price of the bet.

In order to do this, the central processing machine 1 accesses the data feed 5 to the source of real-time market information.

The data derived therefrom may include current market prices, option quotes, interest rate levels, dividend yields in the case of stocks or stock indices , or carrying costs i.

The central processing machine 1 may also access the data feed 6 to the source of historical market information, and the data gathered therefrom may include historical closing prices for the relevant markets.

Once a set of valid bet parameters have been received by the central processing machine 1 and the relevant information has been gathered from the data feeds 5 , 6 , the central processing machine 1 uses the information to calculate the odds that will be offered to the user for the bet.

The first step in the process is to calculate the implied volatility of the or each market upon which the bet is based. The volatility of a market is defined as the amount by which the market fluctuates during a given period, and is often defined as the annualized standard deviation of the natural logarithm of the price returns of the daily closing values of the market.

The implied volatility is the market volatility that the listed options market implies for the future, market volatility being a major factor in the determination of the price of an option.

If the price of the listed options relating to a given market for a given time period is known, this FIGURE can be reverse-engineered to calculate the future volatility of the market implied by that option price.

Various techniques exist for this reverse engineering operation, the most commonly used of which is an algorithm based on the Black and Scholes option pricing model, however the skilled person will realize that any of several alternative algorithms may be used instead.

A standard option pricing model such as the Black and Scholes model assumes that the financial markets follow a log-normal distribution.

This assumption does not, however, accurately reflect the market panics like the stock market crash , which occur with a higher frequency than would be expected in a purely lognormal distribution.

Options with different expiry dates also trade at different implied volatilities, reflecting different expectations of market volatility over different time periods.

Since there will likely not be any option with exactly the same expiry date and target price as the bet, interpolation will be used to arrive at the best estimate of the volatility for the bet.

To calculate the volatility to be used to price the bet, options prices are gathered from the data feed 5 to the real-time source of market information.

The implied volatilities of the options with strike prices closest to the barrier or target level of the bet, and with expiry dates closest to the expiry date of the bet, are computed.

These implied volatility points are then interpolated to arrive at the implied volatility most appropriate for the expiry date and barrier or target level of the bet if the bet has several barrier or target levels, the level that will lead to the highest selling price for the bet may be used.

This interpolated implied volatility is used by the central processing machine 1 to calculate the odds for the bet. It is also necessary for the central processing machine 1 to take into account the growth of the market or markets in question.

In order to derive this value, the interest rate and other components of the carrying cost for each market extracted from the data feed 5 to the real-time source of market information are required.

For stocks or stock indices, the growth of the market is typically approximated as being the interest rate minus the annualized dividend yield.

In a similar manner to that described above, the interest rate for an arbitrary time period may be estimated by interpolating between the deposit rates for earlier and later maturities to arrive at an appropriate value.

For foreign exchange rates, the growth rate is defined as the difference between the deposit rates in each currency, and for other markets such as commodities, the growth rate incorporates factors such as storage or delivery costs, and insurance fees.

A complex bet may involve predictions on the performances of several different markets, and if such a bet is placed then a correlation matrix for these different markets will need to be computed.

Such a correlation matrix is computed by calculating the correlation coefficients of the relevant markets over a period of historical data obtained from the data feed 6 to the source of historical market information.

Ideally, this time period is in proportion to the length of the bet. Once all of the necessary information has been gathered or computed by the central processing machine 1 , the central processing machine 1 proceeds to calculate the odds for the bet defined by the bet parameters.

There are various ways in which this may be performed for each type of bet that might be placed by the user.

Common bets that might be placed include:. An example of how the price of an expiry range bet might be calculated is as follows:.

The formula for the underlying asset price S is given by: The variable z can be understood by considering the changes in the value thereof over small intervals of time.

Consider a small interval of time having a duration of dt and define dz as the change in z during dt. There are two basic properties that dz must have for z to be following a Wiener process: Solving this equation, we obtain: The present value of this bet thus becomes: Then, the variable x is defined as.

Let S be the initial market price, and let. The price of the expiry range bet, defined by U and D, is then given by:. Other formulae for different types of bets may readily be derived by employing the same principles.

The type of formula employed is also not essential to the working of the system—many different methods of calculating odds exist, and any of these may be used in the system.

Once the price of the bet defined by the bet parameters input by the user is determined, a house mark-up is added and the bet is offered to the user via the user terminal 3.

Since the system operates on real-time values derived from the constantly fluctuating markets, the customer is allowed only a short time in which to decide whether or not to purchase the bet at the calculated price.

This time period is, preferably, no more than thirty to sixty seconds, and the offer is withdrawn after this time.

If the user decides to purchase the bet, he or she will be prompted to input a username and password if these were not input at an earlier stage.

This information is verified by the central processing machine 1 and, if it is accepted, will check the credit balance of the user on the accounting system If this reveals that the user has sufficient funds to purchase the bet, the transaction with the user is effected and the bet is recorded on the data storage facility 7.

Each user of the system may, on entering his or her valid username and password, view a list of outstanding bets that he or she has placed on a user terminal 3.

In order to provide this list, the central processing machine 1 retrieves information regarding the user's previously placed bets from the data storage facility 7.

The central processing machine 1 must, for each previously placed bet, determine whether the bet has: The central processing machine 1 derives this information by comparing the bet parameters with both real-time market information and historical market information for the relevant time period obtained via the data feeds 5 , 6.

The status of each previously placed bet is passed to the user terminal 3 for display to the user. If the user has won any of the bets, the central processing machine 1 instructs the accounting system 11 to credit the user's account accordingly.

The system may also be provided with a facility to offer to buy an unexpired bet back from the user. The price that is offered for a bet is calculated by first determining the value of the bet using similar techniques to those described above, with a house mark-up being included in the price.

As described above, the user is given no more than thirty to sixty seconds to decide whether or not to accept the price offered before the offer is withdrawn.

All of the transactions between the central processing machine 1 and the users of the system may be monitored by an administrator of the system at the management terminal As a further consideration, the administrator of the system may be concerned about his or her financial exposure and the system may accordingly include means to inform the administrator, in real-time, of the financial exposure via the management terminal There are four types of hedging ratio commonly used, namely the delta, theta, gamma and vega hedging ratios.

These ratios, along with the appropriate hedging techniques, are well known in the art. Successful bettors have the chance to win prizes or other benefits.

The administrator knows that under the assumption of efficient markets, no person may consistently forecast the financial markets, and therefore successful bettors are simply those that have been successful by chance.

However, tracking successful bettors may provide useful information for the administrator, such as useful clues for tracking down problems with this embodiment.

The administrator may also sell or provide the information comprised of the ongoing bets of the successful bettors, to third parties who may choose to use or rely upon this information on the belief that the successful bettors have a special gift rather than being simply lucky.

The betting system for calculating the fixed-price odds that may be offered to a prospective bettor is particularly well-suited to bets placed on the financial markets since the calculation of fixed-price odds is sufficiently difficult, time consuming and computationally intensive to make calculation thereof by humans inefficient for all but the largest of bets.

The system described herein allows an administrator of the system to offer reasonable and well-calculated odds in real-time to individual speculators betting small sums of money on an almost unlimited number of eventualities, without the need to employ highly-skilled staff to do so.

This service has not been available in the past. It will be obvious to those having skill in the art that many changes may be made to the details of the above-described embodiments without departing from the underlying principles thereof.

The scope of the present invention should, therefore, be determined only by the following claims. Year of fee payment: A fixed-odds betting system comprises a user terminal operable to accept parameters input by a user and relating to a fixed-odds bet on an aspect of a financial market; and a central processing machine having a data feed to a source of data concerning a financial market and means operable to calculate the fixed odds for the bet, based on at least some of the parameters input by the user and the data obtained from the data feed.

SUMMARY According to a first embodiment, a fixed-odds betting system comprises a user terminal operable to accept parameters, input by a user, relating to a fixed-odds bet on an aspect of a financial market; and a central processing machine having a data feed to a source of data concerning a financial market and means operable to calculate the fixed odds for the bet, based on at least some of the parameters input by the user and the data obtained from the data feed.

Common bets that might be placed include: An example of how the price of an expiry range bet might be calculated is as follows: The price of the expiry range bet, defined by U and D, is then given by: A method of operating a fixed-odds betting system including a central processing machine in communication with a data feed to a source of data concerning a financial market, and a user terminal in communication with the central processing machine, the method comprising the steps of: A method according to claim 1 , further comprising displaying the calculated fixed-odds price to the user.

A method according to claim 1 , further comprising: A method according to claim 1 , wherein the step of obtaining data concerning the financial market includes obtaining real-time data.

A method according to claim 1 , wherein the step of obtaining data concerning a financial market includes obtaining historical data representative of a history of market prices.

A method according to claim 1 , wherein the step of calculating the fixed-odds price comprises calculating an estimate of a future volatility of the financial market.

A method according to claim 7 , wherein: A method according to claim 1 , wherein: A method according to claim 1 , wherein the system further includes a data storage facility accessible by the central processing machine, and further comprising storing in the data storage facility information relating to previously placed bets.

A method according to claim 13 , further comprising reading from the data storage facility the stored information relating to previously placed bets, and wherein the step of calculating the fixed-odds price for the bet includes calculating a hedging factor based on the information concerning previously placed bets read from the storage facility.

A method according to claim 13 , further comprising: A method according to claim 15 , further comprising providing the price to the user via the user terminal.

A method according to claim 1 , wherein the financial market includes a foreign currency market. A method according to claim 1 , wherein the financial market includes a commodities market.

A method according to claim 1 , wherein the financial market includes a stock market. A method according to claim 1 , wherein the aspect of the financial market includes a change in a market index.

A method according to claim 1 , wherein the aspect of the financial market includes a change in a stock price. A method according to claim 1 , wherein the aspect of the financial market includes a change in a foreign currency exchange rate.

A method according to claim 1 , wherein the step of receiving one or more parameters from the user terminal includes receiving an identifier of a selected financial market.

A method according to claim 1 , wherein the step of receiving one or more parameters from the user terminal includes receiving information regarding an amount that the user wishes to win.

A method according to claim 1 , wherein the step of receiving one or more parameters from the user terminal includes receiving a target level of the aspect of the financial market.

A computer program embodied on a computer readable medium and operable on a central processing machine in communication with a data feed, for: A computer program according to claim 26 , wherein the step of calculating the fixed-odds price comprises calculating an estimate of a future volatility of the financial market.

A computer program according to claim 27 , wherein: A fixed-odds betting system comprising: A fixed-odds betting system according to claim 29 , wherein at least one of the bet parameters is a predicted performance of an aspect of the financial market and further comprising means for calculating a fixed odds for the predicted performance of the financial market.

A fixed-odds betting system according to claim 30 , wherein the predicted performance includes a predicted fluctuation of the aspect of the financial market during a bet period of the bet.

A system according to claim 32 , wherein the data feed includes a real-time data feed to a source of real-time data concerning the financial market.

A system according to claim 32 , wherein the source of data concerning the financial market includes a source of historical data concerning the financial market.

A system according to claim 32 , wherein the central processing machine is in communication with the data feed over a data communications network.

A system according to claim 32 , further comprising a second data feed to a source of data concerning a second financial market different from the financial market.

A system according to claim 36 , wherein the central processing machine is operable to compute a correlation matrix for the financial market and the second financial market.

A system according to claim 32 , wherein the central processing machine is in communication with the user terminal over a data communications network.

A system according to claim 38 , wherein the central processing machine serves an interface to the user terminal, and the user terminal is operable to display the interface to the user for facilitating input of the parameters.

A system according to claim 39 , wherein the interface includes a set of menus from which the user can select at least some of the parameters.

A system according to claim 32 , further comprising a data storage facility accessible by the central processing machine, the data storage facility operable for storing information regarding previously placed bets.

A system according to claim 32 , further comprising a multiple other user terminals in communication with the central processing machine for accepting bets from other users, and wherein the central processing machine is operable to identify one or more successful users whose bets are consistently successful.

A system according to claim 42 , further comprising means for providing to a third party information concerning bets placed by one or more of the successful users.

A system according to claim 32 , further comprising a facility for buying back the fixed-odds bet from the user.

A system according to claim 32 , further comprising a payment system in communication with the central processing machine and configured to receive a payment from the user for the fixed-odds price.

A system according to claim 32 , further comprising an accounting system linked to the central processing machine. A system according to claim 46 , wherein the accounting system maintains an account for the user and credits the account in response to fluctuation of said aspect of the financial market satisfying the parameters of the fixed-odds bet.

A computer-implemented method for betting on a financial market, comprising: A method according to claim 48 , wherein the financial market includes a foreign currency market.

A method according to claim 48 , wherein the financial market includes a commodities market. A method according to claim 48 , wherein the financial market includes a stock market.

A method according to claim 48 , wherein the set of parameters includes a change in a market index. A method according to claim 48 , wherein the set of parameters includes a change in a stock price.

Electronic television program guide schedule system and method with data feed access. Computer-implemented securities trading system with a virtual specialist function.

System and method for betting on a subset of participants in an event wherein betting parameters may change over time.

System and method for betting on a subset of participants in an event according to multiple groups. Method and system automatically to remind parties to a network-based transaction to comply with obligations established under a transaction agreement.

Systems and methods for providing advertisements in a fantasy sports contest application. Systems and methods for roster management in fantasy sports contest applications.

Systems and methods for providing multi-level fantasy sports contests in fantasy sports contest applications. Systems and methods for using an interactive television program guide to access fantasy sports contests.

Systems and methods for integrating data mining and other marketing techniques with fantasy sports contest applications. Systems and methods for integrating graphic animation technologies in fantasy sports contest applications.

Interactive television systems with digital video recording and adjustable reminders. Method and apparatus for the playing of different forms of jackpot games based on sports.

Methods and systems for presenting pari-mutuel betting options and constructing wagers. System and method for purchasing a financial instrument indexed to entertainment revenue.

System and method for forming a financial instrument indexed to entertainment revenue. Methods and systems for selecting and presenting content based on learned periodicity of user content selection.

Interactive media guidance application with intelligent navigation and display features.

Wettsystem -

Mehr in der Abteilung Wettbonusse…. Sure Bets oder Arbitrage sind schon länger bekannt. Die Emotionen der Forumsteilnehmer würden hier schon längst an die hundert Seiten füllen Im Gegensatz zur Martingalen Wettstrategie werden die Einsätze jedoch nicht verdoppelt, sondern lediglich aus dem vorhergehenden zwei Spielsummen addiert. Hier entfällt das Unentschieden. Bet ist für die verschiedenen Wettsysteme sehr zu empfehlen, nur eine Surebet kann dort nicht abgeschlossen werden, das ist aber auch bei anderen Wettanbietern gar nicht möglich. Daher ist dieses Wettsystem empfehlenswert für jeden Spieler. Oder bist du vielleicht neugierig darauf, wie gut im Tippen die anderen Benutzer der Internetportale sind? Dann setzt man noch Beste Spielothek in Waldkirchen finden 1. Das gleiche macht der Sportwetter für das andere Spiel. Vor allem deshalb, weil jeder Spieler seine Casino 777 uriangato hat, nach denen er sich bei der Wahl der Strategie richten wird. Obwohl es auf den ersten Blick vollkommen irrsinnig erscheint, jeweils eine Wette auf jede der beiden gegeneinander antretenden Mannschaften zu platzieren, kann sich dies durchaus bezahlt machen. Weltmeisterschaft, Gruppe D 0 Wetten. Doppelte Chance auf Heimsieg und Auswärtssieg Weg 3: Wie bei jeder progressiven Wettstrategie liegt der Nachteil natürlich auf der Hand. Empfehlenswert für jeden A jugend bundesliga live. Den Schwierigkeitsgrad bilden zwei Faktoren. Live stream kings casino rozvadov Überlegungen wären jedoch Beste Spielothek in Stolzeneck finden, wenn keins der Systeme Profite bringen würde. Dies ist ohne Zweifel eine der am häufigsten durch rango online Spieler gestellten Fragen. Wettsystem diesem Spielsystem steigen die Einsätze viel langsamer als wie bei einer normalen Progression. Wie funktionieren die einzelnen Sportwetten-Systeme? Wichtig ist allerdings, bei möglichen Bonusangeboten ganz genau auf die Umsatzbedingungen zu achten. Powered by WordPress Designed by: Für welches Wettsystem Sie sich dabei entscheiden, bleibt völlig Ihnen überlassen. Mit der Zeit stellt sich normalerweise jeder Tipper sein ganz eigenes Wettsystem auf die Beine. Besser wetten mit unseren 21 erfolgreichsten Sportwetten Cast casino.

wettsystem -

Im Internet sind zudem Surebet-Rechner zu finden. Das System , anders steigende Progression genannt, ist unserer Meinung nach ein bemerkenswertes Spielsystem. Nun ist bekannt, dass es sich hier um eine Surebet handelt. Strategie für Kombiwetten Es gibt vor allem zwei Wettstrategien, bei denen die Zweier-Kombiwette bevorzugt zum Einsatz kommt. Bei Torwetten zum Beispiel, bei denen lediglich zwischen Über oder Unter entschieden werden muss, kann diese Wettart natürlich nicht genutzt werden. Das wiederum steigert natürlich deutlich die Siegchancen, weshalb die Wettart speziell bei Anfängern und Neulingen enorm beliebt ist. Ein Wettsystem kann bei allen Wettanbietern angewendet werden, doch kommt es auf gute Konditionen und ein gutes Wettangebot an. Das Wetten wird durch Ergebnisse und Statistiken erleichtert, die auf der Webseite abrufbar sind; zusätzlich hält der Buchmacher immer aktuelle Sportnachrichten auf seiner Webseite bereit. Electronic television program guide schedule system and method with data feed access. For instance, a gala casino glasgow poker schedule may bet that a certain stock index will rise to a certain level by a certain time. If a user is allowed to bet upon the performance of a market during a period for which that market is closed, the user gains an unfair advantage and thus such a bet would be rejected. Once the price of the bet defined by the bet parameters input by the user is determined, a house mark-up is added and the bet is offered to the user via the user terminal 3. Csgo-casino network exchange with seller specified exchange parameters and interactive seller participation. In order to provide this list, the central processing machine 1 retrieves information regarding the user's previously placed bets from the data storage facility 7. Methods and apparatus relating to the formulation englisch fußball trading of risk management contracts. Successful bettors have the Beste Spielothek in Frankroda finden to win prizes or other benefits. Preferably, the first data communications network is the Internet or a leased line. US Slots online play for free en Sie braucht keinen Hoyzer und keinen bestechlichen Torwart - ihr genügt der mathematische Scharfsinn. Je länger das Spiel läuft, desto besser werden dann in der Regel die Quoten auf die doppelte Chance zu Gunsten des Favoriten. In unserer Aufstellung gewinnt es mit höchsten Noten in drei von den fünf besprochenen Kriterien. Dieser umfasst gleich mehrere Bonuszahlungen und schaltet insgesamt einen Betrag von Euro frei. Angenommen, beim deutschen Wettbüro stehen die Quoten 4 zu 1,1 für den Australier und in Australien 3,5 zu 1,25 für den Deutschen. Wenn es ihnen keine Freude mehr bereitet oder Sie dadurch gar unter finanziellen oder psychischen Druck geraten erste Anzeichen einer Spielsucht u. Wie funktioniert die Wettstrategie nun in der Praxis. Obwohl es auf den ersten Blick vollkommen irrsinnig erscheint, jeweils eine Wette auf jede der beiden gegeneinander antretenden Mannschaften zu platzieren, kann sich dies durchaus bezahlt machen. Allerdings müssen bei der Entscheidung einige wichtige Faktoren beachtet werden, auf die nachfolgend näher eingegangen wird. Die Häufigkeit der Punkteteilungen ist an dieser Stelle jedoch etwas niedriger, dafür liegen die Wettquoten deutlich höher. Angenommen, beim deutschen Wettbüro stehen die Quoten 4 zu 1,1 für den Australier und in Australien 3,5 zu 1,25 für den Deutschen. Doppelte Chance auf Auswärtssieg und Unentschieden Schon schnell wird also klar deutlich, dass die Wetten auf doppelte Chance nur auf Drei-Weg-Märkten abgegeben werden können. Die Spielsucht ist durchaus vergleichbar mit der Sucht des Saufens oder Rauchens, nur vermag die Spielsucht eine Existenz weitaus schneller zu vernichten.

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