Limited lottery insurance
US8429001B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 2, 2010 |
| Grant date | Apr 23, 2013 |
| Priority date | — |
| Expiry date | Mar 21, 2031 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0601
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method for conducting a lottery for at least one item are provided. The method includes, for each of a plurality of buyers, receiving a buyer's declared valuation for each of at least one item being offered in a lottery by a seller, the item having an assigned non-deterministic probability of being allocated to the buyer, providing insured prices for outcomes of the lottery which are a function of the buyer's declared valuation of the at least one item, randomly drawing an allocation of each of the at least one item to a respective one of the buyers, based on its assigned non-deterministic probability, and allocating the insured prices to the buyers based on respective outcomes of the random drawing.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.