Native Texan III
12-05-2011, 11:32 AM
Came across this opaque link which seems to claim all types of Betfair type trading betting is already patented by David Pennock of Pasadena in 2004 & 2010.
Hope he does not also want a 10% cut.
"The preferred embodiments of the invention relate to a new type of electronic market or auction for speculating on the outcome of a future event or on assets of uncertain value. The 50 market may be used to speculate by investing or betting that a particular outcome will occur in the future or to hedge against undesireable outcomes, by arranging for insurance or compensation in case an undesireable outcome occurs."
http://www.google.co.uk/patents?hl=en&lr=&vid=USPAT7788158&id=JuLUAAAAEBAJ&oi=fnd&dq=robin+hanson+horse+racing+decision+markets&printsec=abstract#v=onepage&q&f=false
Hope he does not also want a 10% cut.
"The preferred embodiments of the invention relate to a new type of electronic market or auction for speculating on the outcome of a future event or on assets of uncertain value. The 50 market may be used to speculate by investing or betting that a particular outcome will occur in the future or to hedge against undesireable outcomes, by arranging for insurance or compensation in case an undesireable outcome occurs."
http://www.google.co.uk/patents?hl=en&lr=&vid=USPAT7788158&id=JuLUAAAAEBAJ&oi=fnd&dq=robin+hanson+horse+racing+decision+markets&printsec=abstract#v=onepage&q&f=false