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.
We recognized horse racing and betting markets needed to create new online pre game and in play betting inventory to activate and create user experience where there was none previously.
We invented two new pieces of sports betting functionality, exchange settlement prices and a single button to Cash Out of an existing bet. We patented them in the USA and attempted to partner and licence them to the major operators in the UK. It took us 26 months to build our exchange from scratch and in 2010 we launched our new products on the exchange.
Switch forward to today and our vision was vindicated. Exchange settlement prices were introduced by Betfair in early 2008 and were a godsend for longshot lay liquidity. But it wasn’t till 2011 that the same company launched cash out functionality (both to regulated UK customers only).
Switch forward to today and the “Cash Out my bet” feature is a huge driver of global sports betting volumes. In fact, in betting volume terms, if it were an individual sport Cash out would be the 4th largest sport in the world.
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.
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 exit price at an agreed point in the future.
Both innovations were offered by 2010 on our oddsfutures exchange before the exchange was closed in 2013 due to competitive factors.
Our subsequently granted 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 CashOut 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 CashOut 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 CashOut 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 Pending Application 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.
Granted, 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.
CashOut 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’
Granted, 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.