BetSwap Limited (20240257615). LOCATION-AWARE DIGITAL BETTING PLATFORM TRANSACTION PROCESSING SYSTEMS AND METHODS simplified abstract

LOCATION-AWARE DIGITAL BETTING PLATFORM TRANSACTION PROCESSING SYSTEMS AND METHODS

Organization Name

BetSwap Limited

Inventor(s)

Brent M. Winston of Toronto (CA)

Joshua S. Jackson of White Rock (CA)

LOCATION-AWARE DIGITAL BETTING PLATFORM TRANSACTION PROCESSING SYSTEMS AND METHODS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240257615 titled 'LOCATION-AWARE DIGITAL BETTING PLATFORM TRANSACTION PROCESSING SYSTEMS AND METHODS

Simplified Explanation:

This patent application describes a system and method for processing digital betting transactions that are location-aware. Open bets related to gaming events are advertised for sale by ticket owners through a digital marketplace embedded in or near a sportsbook platform. The system uses location information of buyers and sellers to facilitate transactions and other purposes.

• The system allows ticket owners to sell open bets related to gaming events through a digital marketplace.
• Buyers and sellers provide their locations or have them automatically determined with their permission.
• Location information is used to facilitate transactions and other purposes within the marketplace and platform system.
• The digital marketplace is embedded in or adjacent to a sportsbook platform, such as an app or website.
• The system enhances the buying and selling of open bets by leveraging location information.

Key Features and Innovation:

• Location-aware digital betting transaction processing system.
• Digital marketplace for selling open bets related to gaming events.
• Automatic location determination with user permission.
• Integration with sportsbook platform for seamless transactions.
• Enhanced user experience through location-based features.

Potential Applications:

• Online sports betting platforms.
• Gaming events ticket resale market.
• Location-based digital marketplaces.
• Mobile betting applications.
• Real-time transaction processing systems.

Problems Solved:

• Facilitates the buying and selling of open bets.
• Enhances user experience through location-based features.
• Improves transaction efficiency and accuracy.
• Integrates digital marketplaces with sportsbook platforms.
• Increases accessibility to gaming events tickets.

Benefits:

• Convenient buying and selling of open bets.
• Enhanced user experience with location-based features.
• Improved transaction efficiency and accuracy.
• Seamless integration with sportsbook platforms.
• Increased accessibility to gaming events tickets.

Commercial Applications:

Location-Aware Digital Betting Transaction Processing System: Market Implications and Potential Commercial Uses

Questions about Location-Aware Digital Betting Transaction Processing System:

1. How does the system determine the locations of buyers and sellers for processing transactions? 2. What are the key advantages of integrating a digital marketplace with a sportsbook platform for selling open bets?

Original Abstract Submitted

a location-aware digital betting transaction processing system and method are described, in which open bets involving gaming events are advertised for sale by ticket owners using a digital marketplace that is embedded in or electrically adjacent to a sportsbook platform (e.g., app or website). ticket buyers and sellers provide their locations or their locations are automatically determined with their permission. location information may be used by the marketplace and platform system(s) to determine and/or facilitate certain types of buy/sell transactions and for other purposes.