Products and processes for processing information related to weather and other events
According to an embodiment, a method includes receiving a plurality of bets, in which each bet defines a respective amounted wagered, a respective area, and a respective weather-related event. Data that represents the plurality of bets is displayed. An outcome of a weather-related event is determined and at least one winner is determined based on the bets and the outcome.
1. A method comprising:
displaying, by at least one processor, a geographic map on a graphical user interface;
displaying, by the at least one processor, a plurality of indicators across various areas on the geographic map, the indicators representing wagers that weather related events will occur on respective areas of the map at some future time;
detecting, by the at least one processor, a selection of an area on the geographic map displayed on the graphical user interface;
in response to detecting selection of the area, receiving, by the at least one processor, data indicative of a wager that a weather event will occur on the selected area at a future time; and
generating, by the at least one processor, a financial instrument whose value is based on a likelihood that the wager will be successful.
2. The method of claim 1 , further comprising receiving, by the at least one processor, information from a weather service via a network interface to determine if the weather event occurred on the area selected via the graphical user interface.
3. The method of claim 2 , further comprising determining, by the at least one processor, whether the wager is successful based on the information from the weather service.
4. The method of claim 1 , further comprising storing, by the at least one processor, data indicative of a pool of wagers corresponding to the area selected on the graphical user interface.
5. The method of claim 4 , further comprising causing, by the at least one processor, at least a portion of an amount of the wager to be pooled in the pool of wagers.
6. The method of claim 4 , further comprising causing, by the at least one processor, a payout to be paid to the pool of wagers, in response to determining that the weather event occurred on the area selected.
7. The method of claim 1 , further comprising displaying, by the at least one processor, text indicative of opinions or recommendations regarding wagers on areas of the geographic map.
8. An apparatus comprising:
a memory;
a network interface;
at least one processor to:
display a geographic map on a graphical user interface;
display a plurality of indicators across various areas on the geographic map, the indicators representing wagers that weather related events will occur on respective areas of the map at some future time;
detect a selection of an area on the geographic map displayed on the graphical user interface;
in response to detecting selection of the area on the map, receive data indicative of a wager that a weather event will occur on the selected area at a future time; and
generate a financial instrument whose value is based on a likelihood that the wager will be successful.
9. The apparatus of claim 8 , wherein the at least one processor is further configured to receive information from a weather service via the network interface to determine if the weather event occurred on the area selected via the graphical user interface.
10. The apparatus of claim 9 , wherein the at least one processor is further configured to determine whether the wager is successful based on the information from the weather service.
11. The apparatus of claim 8 , wherein the at least one processor is further configured to store data indicative of a pool of wagers corresponding to the area selected on the graphical user interface.
12. The apparatus of claim 11 , wherein the at least one processor is further configured to cause at least a portion of an amount of the wager to be pooled in the pool of wagers.
13. The apparatus of claim 11 wherein the at least one processor is further configured to cause a payout to be paid to the pool of wagers, in response to determining that the weather event occurred on the area selected.
14. The apparatus of claim 8 , wherein the at least one processor is further configured to display text indicative of opinions or recommendations regarding wagers on areas of the geographic map.