Betting exchange system

Abstract

A betting exchange system receiving bet requests from a plurality of users over a communications network, each of the requests comprising a bet backing an outcome or laying an outcome. The betting exchange system matches respective bets which back and lay a given outcome, and automatically arbitrages unmatched bet requests to thereby generate one or more implied bets made by the system in respect to an outcome for which no bet requests have been received. The implied bets are generated so that the system does not lose money on the implied bets taken together.

1 - 23 . (canceled) 
   
   
       24 . A betting exchange system comprising:
 a computer
 receiving bet requests from a plurality of users over a communications network, each of said requests comprising a bet backing an outcome or laying an outcome, 
 matching respective bets which back and lay a given outcome, and 
 automatically arbitraging unmatched bet requests to thereby generate one or more implied bets made by the system in respect to an outcome for which no bet requests have been received, wherein the implied bets are generated so that the system does not lose money on the implied bets taken together. 
   
   
   
       25 . A betting exchange system comprising:
 means for receiving bet requests from a plurality of users over a communications network, each of said requests comprising a bet backing an outcome or laying an outcome,   means for matching respective bets which back and lay a given outcome, and   means for automatically arbitraging unmatched bet requests to thereby generate one or more implied bets made by the system in respect to an outcome for which no bet requests have been received, wherein the implied bets are generated so that the system does not lose money on the implied bets taken together.