Systems and methods for contingency-based options and futures for playoff tickets based upon individual athletes
View Patent ↗A system for allowing a remote user to purchase, over a distributed computer network (e.g., the Internet), an option for a ticket and/or accommodations for a “contingent event,”i.e., an event which is certain to occur but for which the participants, content and/or location(s) are not predetermined. For instance, the subject system can be used to sell options for the purchase of tickets to contingent events such as playoff games on the basis of what individuals qualify for the game.
1. A method of electronic commerce, comprising:
identifying, from a database, a plurality of individual athletes who could qualify for a playoff game;
providing, in a register, a plurality of tickets for said playoff game;
establishing a network-based on-line system for sale of futures contracts to acquire said tickets for said playoff game, wherein each futures contract is exercisable upon occurrence of a designated one of said plurality of individual athletes qualifying for said playoff game, wherein each of said plurality of individual athletes could qualify for said playoff game yet which of said plurality of individual athletes is to appear at said playoff game is unknown at the sale of said futures contract;
offering, via a buyer device, said futures contracts for sale for each of said tickets for each of said plurality of individual athletes that could, at the time of the offer for sale, qualify to appear at said playoff game; and
triggering, in an order processing module of the network-based on-line system, the exercisability of said futures contracts associated with each of said individual athletes that qualify for said playoff game.
2. The method of claim 1 , wherein said playoff game is a participant-game.
3. The method of claim 2 , wherein said participant-game is a team-round-game.
4. The method of claim 1 , wherein at least one of said futures contracts is tradable, via the network-based on-line system, prior to one of said plurality of individual athletes qualifying for said playoff game.
5. The method of claim 1 , wherein at least one of said futures contracts is tradable for a different futures contract.
6. The method of claim 1 , wherein at least one of said futures contracts is tradable for a payment.
7. The method of claim 1 , wherein at least one of said futures contracts further comprises an option for a travel accommodation associated with said playoff game.
8. A computer program product embodied in a computer readable medium that, when executing on one or more computing devices, performs the steps of:
identifying a plurality of individual athletes who could qualify for a playoff game;
providing a plurality of tickets for said playoff game;
establishing a network-based on-line system for sale of futures contracts to acquire said tickets for said playoff game, wherein each futures contract is exercisable upon occurrence of a designated one of said plurality of individual athletes qualifying for said playoff game, wherein each of said plurality of individual athletes could qualify for said playoff game yet which of said plurality of individual athletes is to appear at said playoff game is unknown at the sale of said futures contract;
offering said futures contracts for sale for each of said tickets for each of said plurality of individual athletes that could, at the time of the offer for sale, qualify to appear at said playoff game; and
triggering the exercisability of said futures contracts associated with each of said individual athletes that qualify for said playoff game.
9. The computer program product of claim 8 , wherein said playoff game is a participant-game.
10. The computer program product of claim 9 , wherein said participant-game is a team-round-game.
11. The computer program product of claim 8 , wherein at least one of said futures contracts is tradable prior to one of said plurality of individual athletes qualifying for said playoff game.
12. The computer program product of claim 8 , wherein at least one of said futures contracts is tradable for a different futures contract.
13. The computer program product of claim 8 , wherein at least one of said futures contracts is tradable for a payment.
14. The computer program product of claim 8 , wherein at least one of said futures contracts further comprises an option for a travel accommodation associated with said playoff game.
15. A system for allowing a user to bid on an option to purchase a ticket to a playoff game for which a plurality of individual athletes could qualify to participate but have not qualified for said playoff game, comprising:
a database having stored therein an option record having an individual athlete field representative of one of said plurality of individual athletes being a candidate for participation in said playoff game, an event field representative of said playoff game, and a value field representative of a value of a minimum winning bid to purchase an option, the option being an option to purchase a ticket for said playoff game on occurrence of a specified individual athlete qualifying to participate in said playoff game;
a server, in connection with said database, processing a bid representative of a request to purchase the option, and processing said bid and said option record to allocate an option contract to a winning bid; and
an order processing module to exercise the option associated with a selected individual athlete in response to said selected individual athlete qualifying for said playoff game.
16. The system of claim 15 , wherein said playoff game is a participant-game.
17. The system of claim 16 , wherein said participant-game is a team-round-game.
18. The system of claim 15 , wherein the option is tradable prior to one of said plurality of individual athletes qualifying for said playoff game.
19. The system of claim 15 , wherein the option is tradable for a different option.
20. The system of claim 15 , wherein the option further comprises an option to purchase a travel accommodation associated with said playoff game.