Invention Grant
- Patent Title: Entrance-exchange structure and method
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Application No.: US10046101Application Date: 2002-01-11
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Publication No.: US07892089B2Publication Date: 2011-02-22
- Inventor: Keith A. Raniere
- Applicant: Keith A. Raniere
- Applicant Address: US NY Albany
- Assignee: First Principles, Inc.
- Current Assignee: First Principles, Inc.
- Current Assignee Address: US NY Albany
- Agency: Schmeiser, Olsen & Watts, LLP
- Main IPC: A63F9/24
- IPC: A63F9/24 ; A63F13/00 ; G06F17/00

Abstract:
A entrance-exchange structure and method of execution thereof, comprising a house and an activity of uncertain outcome (e.g., game of chance, game of skill, etc.) that is entered by a participant (e.g., a participant such as a player). The house pays the participant a takehome in relevant scrip, or cash and relevant scrip, for an activity entered into by the participant, based on betting by the participant. An existing outside vendor may exchange the participant's scrip at a scrip-to-items exchange rate for at least one item provided by the outside vendor. The outside vendor may exchange the relevant scrip with the house for cash at an outside-vendor scrip-to-cash exchange rate. The house may also function as a vendor with whom the participant may exchange relevant scrip for cash at a house-vendor scrip-to-cash exchange rate. The relevant scrip is a virtual currency that may be generated by the entrance-exchange structure.
Public/Granted literature
- US20030134674A1 Entrance-exchange structure and method Public/Granted day:2003-07-17
Information query