Marketmaker Software Ltd was the operator of early live bet trading exchange oddsfutures.
Our first software development started in Dublin, Ireland in 2006 and our now granted US patents on Cash Out betting and Exchange SP’s were published in early 2007.
In 2006, we recognized horse racing and betting markets needed to create new pre game and in play betting inventory. Taking betting beyond binaries, we filed our patents and developed novel technologies to activate and create new sports betting user experiences.
We had a long term vision and a belief that two distinct betting product innovations delivered to customers before and during a sports event would transform sports betting interaction beyond the binary bet.
Our vision was to invent and bring two novel and distinct sports betting innovations to market; namely, exchange settlement prices and single button functionality to Cash Out an existing bet. We patented our two functional and technical innovations in 2007, and further attempted to partner and licence them to the major UK operators.
The b2b software licensing route proved fruitless, despite our commercialisation discussions with several UK operators.
Thereafter it took Marketmaker 24 months to build our own betting exchange incorporating our Cash out and Exchange Settlement Price patents. In late 2010 we launched our innovations on our own proprietary exchange platform.
Subsequent to our 2007 discussions and patents, Exchange Settlement Prices were introduced by Betfair in 2008.
True to our vision the exchange SP product was a godsend for early longshot lay liquidity, creating inventory where none previously existed. By 2011 Betfair had also launched single button Cash Out functionality, claiming 2011 Cash Out ‘invention’ in its corporate financial literature online and in annual reports.
Switch forward to today and the Cash Out feature is a huge driver of global sports betting volumes. In fact, if Cash Out were an individual sport Cash Out would be the 4th largest sport in the world in betting volume terms.
Offering a ‘Get me Out’ UX button so users could optionally divest and ‘Cash Out’ an existing bet based on dynamic current odds prices.
Offering an ’exchange SP’ betting button to lock in a bet settlement exit price at an agreed point in the future and get early bets made.
Both innovations were offered by 2010 on our oddsfutures exchange before the exchange was closed in 2013 due to competitive factors.
Our 2007 dated US patents are cited as prior art IP by a number of sports betting suppliers and operators including Winview Inc, Colossus Bets, Bspot and from the financial sector by Wall Street software provider Trading Technologies International Inc.
Marketmaker still offers proprietary real-time in play pricing technology and expertise. We can supply proprietary quant driven models as well as USA licensed Cash Out and Exchange SP intellectual property.
Today, our licencing offering for operators and software vendors combines enterprise tax efficient R&D bundled with live price data. A typical Marketmaker solution is delivered under a contracted research collaboration partnership.
Our licences solve the problem of a lack of sports betting inventory when the digital marketplace is betting one way.
A contracted research collaboration partnership with us can be harnessed to contribute positively to group EBITDA. This is done through corporate tax planning and the identification of individually qualifying Cash Out products and income across group activity regardless of regulated jurisdiction i.e. the tax deductible treatment of the IP license can also cover non USA Cash Out income and expenditure.
Legal use of our IP add’s longevity to US based consumer LCV by creating, simplifying and transforming the user experience.
United States Patent Issued 16/173,751
Systems, methods, and devices, are disclosed in which a graphical user interface is presented. The graphical user interface includes a first interface that displays a plurality of odds selection buttons for making a selection of one or a plurality of time-varying odds offered for trade on one or more outcomes in a betting marketplace and a buy button for communicating the odds selection over a network interface for matching as a bet. The graphical user interface further includes a second interface that displays at least one bet selection button for making a selection of one or more previously matched bets and a sell button for communicating the bet selection over the network interface for divestment of the selected bet. The second interface can be reached directly from the first interface via a single action of a user input device.
United States Patent No: US 10,115,157 (PDF)
If you want to do a 5 minute review to understand how Marketmaker’s granted US patents and IP can be harnessed in a research collaboration with your enterprise the tools are set out below.
On the webpage link above search using “control “F” helpful search terms include: ‘option’ ‘a bet‘ ‘divestment‘ ‘button’ ‘612‘ or ‘single action of the user.
Cash Out user interaction is delivered with button number 612 (depicted in diagram no 7).
This is the optional bet divestment button for the operator to sell a new divestment bet and the user to optionally click on it in a ‘single action of the user’ in order to ‘avoid exposure to the outcome of the event’
United States Patent No: US 8,510,205 (PDF)
This UX creates exchange SP’s as would typically be utilised in horse racing markets on a betting exchange.
This is done in order to guarantee or lock in an obligation (rather than present an option) to settle a bet prior to the outcome in a simpler manner that facilities a more efficient betting product.
The user interface solves the problem of exposure to the outcome of the sporting event and at the same time creates online inventory for each offered betting selection for a given sports event where none was previously available or the user could not be sure to lock in their profits.