| CPC G07F 17/3255 (2013.01) [G06Q 30/0209 (2013.01); G06Q 50/34 (2013.01); G07F 17/3211 (2013.01); G07F 17/323 (2013.01); G07F 17/3241 (2013.01); G07F 17/3288 (2013.01); G06Q 2220/00 (2013.01)] | 19 Claims |
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1. An electronic sports wagering exchange system for facilitating a wager-based transaction for a plurality of products or services comprising:
a processor; and
a memory coupled to the processor, with instructions stored thereon that, when executed by the processor, cause the processor to perform operations comprising:
receiving a wager from a user for a predetermined event, wherein the predetermined event comprising a gaming activity, a gambling activity, a sporting event, or a financial market condition;
the electronic wagering exchange system further maintaining inventory tracking, comprising pricing data and an availability data for each of the plurality of products or services offered by a plurality of merchants;
receiving a purchase order for one or more products or services from the plurality of products or services, wherein the purchase order is linked to the wager placed by the user or on behalf of the user;
adjusting a purchase price for the purchase order based on an outcome of the wager by:
converting a potential payout of the wager into a discount or coupon applicable to the purchase order if the outcome of the wager is a winning bet; and
applying the discount or coupon to the purchase order to reduce the purchase price; and
dynamically determining a value of the discount or coupon based on a plurality of evolving betting odds and the potential payout of the wager; and
the electronic wagering exchange system, further comprising risk management and mitigation, that is configured to:
fetch and analyze a comprehensive set of data associated with one or more wagering activities of the user, wherein the comprehensive set of data comprising but not limited to one or more types of the wager placed, the outcome of the wager placed, timing and frequency of the wager, correlation between one or more wagers and one or more purchases, and one or more responses of the user to one or more previous risk assessment reports:
utilize one or more machine learning algorithms to assess a risk level of the wager placed by the user based on the analysis of the comprehensive set of data, one or more current market conditions, and one or more real-time updates from one or more predetermined events, the risk level is continuously updated and refined as a new set of data is collected and analyzed;
generate one or more real-time risk assessment reports for the user, wherein the one or more real-time risk assessment reports comprising one or more detailed explanations and visualizations of the risk level, and one or more potential consequences of the wager, wherein the one or more real-time risk assessment reports are tailored to one or more betting and purchasing patterns, one or more preferences, and a risk tolerance of the user;
dynamically adjust the value of the discount or coupon offered to the user based on the risk level, one or more specifics of the wager, and a historical acceptance rate of one or more discounts or coupons of the user; and
provide the user with one or more tools and resources to learn about risk management in wagering and purchasing, comprising educational content, interactive simulations, and personalized advice.
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