U.S. Patent 5,800,268 is a business method for remote wagering on live games and events utilizing electronic transactions. The patent was published in Europe in November 1999 and provides its assignee with full provisional patent protection until final approval and issuance.
How it works
The live remote wagering patent is comprised of three parts:
- Remote wagering
- Live games and events
- Electronic financial transactions
Specifically, remote wagering allows consumers to place bets from anywhere in the world without having to go to an actual wagering entity such as a casino, race track, sports book, or off track betting parlor. Location-free wagering such as this is delivered to consumers via the Internet, satellite and cable television, and wireless technologies. Live games and events include casino-style games, pari-mutuel wagering, lotteries, sports betting, bingo, keno, and more. Electronic financial transactions are executed by credit card, debit card, smart card, as well as e-cash and any other electronic funds transfer.
Integrity of the Patent
The patent has successfully been defended internationally. In April 2000, the US Federal Court District of Nevada awarded a permanent injunction against Caribbean-based First Live Casino, which shut down the operation because it infringed upon the patent. This decision also affected UUNET, a WorldCom/MCI company, which was forced to stop broadcasting First Live Casino content on the Internet.