Description:CROSS REFERENCE TO RELATED APPLICATIONS
This application is a patent of addition to Indian Application number 202011049583 filed on 13 November 2020.

FIELD OF THE INVENTION
The present invention relates to a system and a method of trading a value of a player in an online environment and a method thereof.

BACKGROUND OF THE INVENTION
Background description includes information that may be useful in understanding the present invention. It is not an admission that any of the information provided herein is prior art or relevant to the presently claimed invention, or that any publication specifically or implicitly referenced is prior art.
With the rise in the craze of sport events everywhere, fantasy sport has made up its place for people who like to play the game outside the ground. The fantasy game allows users to prepare and play with virtual and imaginary teams and eventually gain an opportunity to earn monetary benefits. The online trading of players works on the analysis and statistics of the players’ performances in the previous sport events in the real world.
The users who are well experienced in the field of sports use the online applications providing such platforms for trading in the virtual environment. They understand the concept of player performance based on the statistics and are well suited for analyzing or analyzing the better performance of the games. Thus, any amateur user or the one who is young in this field would be losing a huge deal of funds due to the unsecured method of trading provided in prior art.
Moreover, as per the conventional method of trading players, the performance of each real players is converted into points that are compiled and calculated using computers tracking actual results of the sport event.
US 20130018492 A1 discloses a trade evaluator for evaluating trades based on statistics of players to be traded, statistics of other players on each fantasy team, and settings of a fantasy league. A computer receives a request to analyze a trade of one or more players for one or more other players. The computer determines league settings and player statistics. For each player on the teams, the computer determines a position in a roster. The computer determines a highest value player for each position. If there is only one slot that can hold the highest ranked player still available to place, the computer fills the slot with that player. If there are multiple slots left, and each of those slots can also hold other player positions, the computer places the player in a slot with a lowest opportunity cost. The computer determines a point total for the teams with and without execution of the trade.
US8550890B1 discloses a system that includes a processor, and computer executable instructions readable by the processor and operative to solicit or receive a selection to fill a coach position on a fantasy team. The selection comprises a selection of a coach of a sports team, a member of the sports team, or a unit of the sports team to fill the coach position on the fantasy team, and determine a coach's score based on at least one on-field or off-field action or statistic of the sports team, the member of the sports team, or the unit of the sports team.
However, the prior art fails to disclose any effective way of trading players in an online environment. Accordingly, there is still a need to overcome the drawbacks of prior art.

OBJECTS OF THE INVENTION
The main object of the present invention is to provide a method of trading a value of at least one player by a user in an online environment.
Another object of the present invention is to provide a method of effective of players in an online environment.
The main object of the present invention is to provide a system of trading a value of at least one player by a user in an online environment.

SUMMARY OF THE INVENTION
This summary is provided to introduce a selection of concepts in a simplified format that are further described in the detailed description of the present disclosure. This summary is not intended to identify key or essential inventive concepts of the present disclosure, nor is it intended for determining the scope of the present disclosure.
According to an aspect of the present invention, a method of trading a value of at least one player by a user in an online environment on a smart device is disclosed. The method comprises selecting the at least one player for trading in a sports event. The method further comprises providing a deal based on the selected one player. The method further comprises assigning a first value to the deal, wherein the first value is an absolute value in form of points. The method further comprises observing a second value, wherein the second value is an absolute value as scored by the selected player in the sports event. The method further comprises comparing the first value with the second value, wherein the deal being a CALL deal or a PUT deal.
According to an embodiment of the present invention, if the deal is the CALL deal and if the second value is greater than or equal to the first value, profits to the user is realized.
According to an embodiment of the present invention, if the deal is the CALL deal and if the second value is smaller than, losses to the user is realized.
According to an embodiment of the present invention, if the deal is the PUT deal and if the second value is smaller than the first value, profits to the user is realized.
According to an embodiment of the present invention, if the deal is the PUT deal and if the second value is greater than or equal to the first value, losses to the user are realized.
According to an embodiment of the present invention, the user can operate in a buy/sell trade mode, a multi-bagger mode or a premium multi-bagger mode.
According to an embodiment of the present invention, the user assigns the first value for the at least one player based on his analysis and experience in the sports event.
According to an embodiment of the present invention, the realized profits or losses are equal to a value of applicable real currency, and the value of the applicable real currency is transferable to a bank account in real world.
According to an embodiment of the present invention, a minimum value of the first value is pre-defined when the CALL deal is provided, and a maximum value of the first value is pre-defined when the PUT deal is provided.
According to an embodiment of the present invention, if the selected player fails to attend the sports event, the deal is cancelled.
According to an aspect of the present invention, a system of trading a value of at least one player by a user in an online environment on a smart device is disclosed. According to an embodiment of the present invention, the system comprises a user input module configured for selecting the at least one player for trading in a sports event and for assigning a first value to the deal, wherein the first value is an absolute value in form of points.
According to an embodiment of the present invention, a communication interface module configured to provide a deal based on the selected one player, wherein the deal is either created by the user or accepted by the user when it was created by some other user, wherein the communication interface module is further configured for observing a second value, wherein the second value is an absolute value as scored by the selected player in the sports event.
According to an embodiment of the present invention, a processor configured for comparing the first value with the second value.
According to an embodiment of the present invention, the deal being a CALL deal or a PUT deal.
According to an embodiment of the present invention, if the deal is the CALL deal and if the second value is greater than or equal to the first value, profits to the user is realized.
According to an embodiment of the present invention, if the deal is the PUT deal and if the second value is smaller than the first value, profits to the user is realized.

BRIEF DESCRIPTION OF THE DRAWINGS
The subject matter that is regarded as the invention is particularly pointed out and distinctly claimed in the claims at the conclusion of the specification. The foregoing and other aspects, features, and advantages of the invention are apparent from the following detailed description taken in conjunction with the accompanying drawings in which:
Figure 1 illustrates a flowchart of a method of trading as per the embodiment of the present invention.
Figure 2 illustrates a block diagram of a system of trading as per the embodiment of the present invention.

DETAILED DESCRIPTION OF THE INVENTION WITH NON-LIMITING EMBODIMENTS, EXAMPLES AND ACCOMPANYING DRAWINGS
For the purpose of promoting an understanding of the principles of the invention, reference will now be made to the embodiment illustrated in the drawings, and specific language will be used to describe the same. It will nevertheless be understood that no limitation of the scope of the invention is thereby intended. Such alterations and further modifications in the illustrated system, and such further applications of the principles of the invention as illustrated therein would be contemplated as would normally occur to one skilled in the art to which the invention relates. Unless otherwise defined, all technical and scientific terms used herein have the same meaning as commonly understood by one of ordinary skilled in the art. The system, methods, and examples provided herein are illustrative only and are not intended to be limiting.
The term “some” as used herein is to be understood as “none or one or more than one or all.” Accordingly, the terms “none,” “one,” “more than one,” “more than one, but not all” or “all” would all fall under the definition of “some.” The term “some embodiments” may refer to no embodiments or to one embodiment or to several embodiments or to all embodiments, without departing from the scope of the present disclosure.
The terminology and structure employed herein is for describing, teaching, and illuminating some embodiments and their specific features. It does not in any way limit, restrict or reduce the spirit and scope of the claims or their equivalents.
More specifically, any terms used herein such as but not limited to “includes,” “comprises,” “has,” “consists,” and grammatical variants thereof do not specify an exact limitation or restriction and certainly do not exclude the possible addition of one or more features or elements, unless otherwise stated, and furthermore must not be taken to exclude the possible removal of one or more of the listed features and elements, unless otherwise stated with the limiting language “must comprise” or “needs to include.”
Whether or not a certain feature or element was limited to being used only once, either way, it may still be referred to as “one or more features” or “one or more elements” or “at least one feature” or “at least one element.” Furthermore, the use of the terms “one or more” or “at least one” feature or element do not preclude there being none of that feature or element, unless otherwise specified by limiting language such as “there needs to be one or more . . . ” or “one or more element is required.”
Unless otherwise defined, all terms, and especially any technical and/or scientific terms, used herein may be taken to have the same meaning as commonly understood by one having ordinary skills in the art.
Reference is made herein to some “embodiments.” It should be understood that an embodiment is an example of a possible implementation of any features and/or elements presented in the attached claims. Some embodiments have been described for the purpose of illuminating one or more of the potential ways in which the specific features and/or elements of the attached claims fulfill the requirements of uniqueness, utility and non-obviousness.
Use of the phrases and/or terms including, but not limited to, “a first embodiment,” “a further embodiment,” “an alternate embodiment,” “one embodiment,” “an embodiment,” “multiple embodiments,” “some embodiments,” “other embodiments,” “further embodiment”, “furthermore embodiment”, “additional embodiment” or variants thereof do not necessarily refer to the same embodiments. Unless otherwise specified, one or more particular features and/or elements described in connection with one or more embodiments may be found in one embodiment, or may be found in more than one embodiment, or may be found in all embodiments, or may be found in no embodiments. Although one or more features and/or elements may be described herein in the context of only a single embodiment, or alternatively in the context of more than one embodiment, or further alternatively in the context of all embodiments, the features and/or elements may instead be provided separately or in any appropriate combination or not at all. Conversely, any features and/or elements described in the context of separate embodiments may alternatively be realized as existing together in the context of a single embodiment.
Any particular and all details set forth herein are used in the context of some embodiments and therefore should not be necessarily taken as limiting factors to the attached claims. The attached claims and their legal equivalents can be realized in the context of embodiments other than the ones used as illustrative examples in the description below.
Embodiments of the present invention will be described below in detail with reference to the accompanying drawings.
Reference is made to the Fig. 1 of the present invention to describe an embodiment disclosed therein. According to the Fig. 1, a method of trading a value of one or more players by a user is disclosed. In some embodiments, the method of trading is implemented in an online environment. In some embodiments, the method of trading is implemented using a smart device connected to an online environment. Several types of smart devices that may be used to implement this method of trading are smartphones, tablets, laptops, processing units of any kind and many others.
In some embodiments, the method comprises selecting the one or more players for trading in a sports event (S1). The user can operate in a buy/sell trade mode, a multi-bagger mode or a premium multi-bagger mode. The types of sports event may include cricket, basketball, volleyball, rugby, water polo, handball, lacrosse, baseball, and the various forms of football, and hockey, and any other type of event that may be classified as a sport. Further description of the invention is based on the sports event, such as cricket, for better understanding of the invention. However, the below embodiments of the invention in now way is limited to cricket but all embodiments defined below can be implemented in any sports event.
The sports event should be interpreted to comprise a single event or a series of events. For example, the sports event may be a single cricket match. The match wise trading includes Buy/Sell, Multibagger, and Premium Multibagger options for a particular match. In this, the trading totally depends on an outcome of a single match and works match wise. Its main components are Buy/Sell, Multibagger, and Premium Multibagger, for example:
Buy/Sell:
When the user chooses the option “matchwise trading” with Buy/Sell option, a list of players for a particular match is displayed with pre-approved base price (buy/sell price) based on the previous performance of the player. The user now based on his knowledge and analysis chooses to buy/sell any player(s). Now when the actual match starts and ends, then the performance of the traded player(s) is evaluated based on the performance of the traded player(s) in the match according to previously defined rules. Multibagger:
Multibagger:
a user can hold the shares of the selected player(s). From all the players listed, the player who scores highest points in the match will get return that will be displayed in the corresponding cell of that particular player.
Premium Multibagger:
a user can hold chooses the highest point scorer among 4 to 5 players only. Whosoever grabs the highest points from the selected players will become premium multi-bagger. Each player is a stock of shares for the trading purpose. There is no limit on the purchase of shares of a particular player(s). Also, there shall be no reversal of the transaction once a player has been bought/sold/held. The users can maintain and monitor their portfolio of the selected players. The final evaluation will result in either crediting the valuation or debiting the evaluation in the wallet of the user. The basic idea is to buy a good player and sell the bad one. One can earn or lose points based on the performance of selected players in the match according to the Point System table, resulting in profit/loss. Number of points the user earns/loses is equal to the money user makes/loses at the end of the game.
Further description on the Buy/Sell, Multibagger, and Premium Multibagger options are already defined in the above-mentioned Indian parent application and the same may be referred, if need be. Therefore, for the sake of brevity, the present application does not repeat the description of those options.
In another example, the sports event may be a cricket match series.
Unlike match wise trading where the trading is done for a particular match, in series wise trading the user has the option to buy or sell player(s) for the entire duration of the series of a tournament. The user chooses the series of his choice and selects the player(s) available from different teams along with their respective buying and selling prices. The user uses his analysis to trade the selected player(s) for the entire series. Some specific features of the series wise trading are as follows:
a. points of the user are determined by the performance of the player(s) in that particular series.
b. Each match will be displayed separately under the tournament in the user’s portfolio, allowing him to easily track every match’s progress by referring to the Point System table.
In some embodiments, the method comprises selecting the one or more players for trading in the sports event. The method further comprises providing a deal based on the selected one player (S2). In some embodiments, the deal may be a CALL deal. In some embodiments, the deal may be a PUT deal. The term “CALL” is the term used when user analyses about a player that the player will score equal or more points than call points, where call point is a number which user chooses. The term “PUT” is the term used when user analyses about a player that a player will score lesser points than the PUT points, where put point is number which user chooses. For example, the user chooses Player X for a CALL option and sets call points equal to 40. That means user expects Player X to score 40 or more than 40 points. In the same match user chooses Player Y for PUT option and sets put points equal to 32. That means user expects Player Y to score less than 32 points.
In some embodiments, the user creates the deal. In some embodiments, the user then floats the deal in the market for other users to accept the deal. In some embodiments, the user, instead of creating the deal, accepts the deal, which was already floated in the market by some other user. Thus, the user can create a deal or accept a deal created by others. The term “market” may refer to an online environment where the trading of players is enabled. Market tab provides users with CALL / PUT options to create and accept deals by using their analysis about sports.
In some embodiments, the method further comprises assigning a first value to the deal (S3). In some embodiments, the user may actively assign the first value to any player in the sports event. In some embodiments, the user may actively assign the first value to a numbers of players in the sports event. In some embodiments, the user may actively assign the first value to any player playing a sports event. In some embodiments, the user may actively assign the first value to any player playing a cricket match. For example, the user assigns ‘40’ as the first value to the CALL deal. The number 40 may be a number of runs that is used in the format of cricket match. Accordingly, it is within the scope of the present disclosure that the skilled person will be able to use this concept in any sports event depending on the format of the sports event. For example, 40 runs in cricket match, 2 goals in football and so on. Alternatively, some other user may assign 40 as the first value to the CALL deal, and then the value is floated in the market. In some embodiments, the first value may refer to points input by the user. In some embodiments, the first value is absolute values, real values, etc. In some embodiments, the first value is an absolute value in form of points. In some embodiments, the user assigns the first value for the at least one player based on his analysis and experience in the sports event.
In some embodiments, the method further comprises observing a second value in the sports event for which the user has assigned the first value (S4). In some embodiments, the second value is the actual score of the selected player in the selected event. In some embodiments, the second value is an absolute and actual value as scored by the selected player in the sports event. For example, if the user has assigned 40 as the first value to be scored by any player before the start of the match, the second value refers to the actual score of the player.
In some embodiments, the method comprises comparing the first value with the second value (S5), wherein if the deal is the CALL deal and if the second value is greater than or equal to the first value, profits to the user is realized. Alternatively, if the deal is the CALL deal and if the second value is smaller than, losses to the user is realized. The profits and losses that may be incurred to the user are in the form of points, but the invention provides the conversion of these points in real currency values that may be valid for transactions in bank accounts. For example, the realized profits or losses are equal to a value of applicable real currency, and the value of the applicable real currency is transferable to a bank account in real world.
In some embodiments, the method comprises comparing the first value with the second value (S5), wherein if the deal is the PUT deal and if the second value is smaller than the first value, profits to the user is realized. Alternatively, if the deal is the PUT deal and if the second value is greater than or equal to the first value, losses to the user are realized. As in the previous embodiments, the profits and losses that may be incurred to the user are in the form of points, but the invention provides the conversion of these points in real currency values that may be valid for transactions in bank accounts. For example, the realized profits or losses are equal to a value of applicable real currency, and the value of the applicable real currency is transferable to a bank account in real world.
In some embodiments, a minimum value of the first value is pre-defined when the CALL deal is provided. In some embodiments, a maximum value of the first value is pre-defined when the PUT deal is provided. The effect of setting the minimum call points and maximum put points is to avoid the floating of unnecessary deals in the market, and to get more matches to the deals created by the users.
In some embodiments, the method comprises that if the selected player fails to attend the sports event, the deal is cancelled. For example, if a user creates a deal or accepts a deal based on a player who later could not play the match (sports event), in such cases, the deals will stand cancelled and any money will be refunded in users’ wallets including the platform fees. In some embodiments, the deal cannot be cancelled by the user if less than five minutes are remaining for the start of the match.
Some specific implementation of the features of the invention is described below with the help of the examples for different sports event in the cricket category:
- If the sports event is a test or first class cricket matches, and the cricket match fails to continue for at least 200 overs and the cricket match is drawn, the cricket match is determined to be cancelled;
- If the sports event is a one day cricket match with minimum 50 overs, and a minimum of 50 overs is not played and each team participating in the one day cricket match does not face a minimum 20 overs, the cricket match is determined to be cancelled;
- If the sports event is a T20 cricket match, and a minimum of 20 overs is not played, and each team participating in the T20 cricket match does not face a minimum of 5 overs individually, the cricket match is determined to be cancelled; and
- If the sports event is T-10 cricket match, and each team participating in the T-10 cricket match does not play at least 7 overs, the cricket match is determined to be cancelled.
Some other features of the invention are defined below to define the scope of the invention:
In the cricket category of the sports event, if any 'Substitutes', 'concussion subs', 'impact players', 'x-factor' or any other player joins the team in any capacity after the starting XI is declared, that player is considered as 'non-playing' and his points will not be calculated. Users’ amount traded on these types of players will be returned. To illustrate, if a player makes it to the original starting XI, he will be considered as 'playing' and only his points will be calculated. Any player who enters the field after that will be counted as 'non-playing' and his points will not be calculated and the amount traded will be refunded.
Figure 2 illustrates a block diagram of a system of trading as per the embodiment of the present invention.
In another aspect of the invention, a system (100) of trading a value of at least one player by a user in an online environment on a smart device is disclosed. The embodiments described with respect to the method aspect above are all implanted in the system aspect of the invention. For the sake of brevity, all method embodiments described above are not repeated here for the system aspect. Instead, the embodiments that are essential for the implementation of the invention are described below for the system embodiments.
In some embodiments, the system (100) comprises a user input module (102) configured for selecting the at least one player for trading in a sports event. The system (100) further comprises a user interface (106) for creating a deal or accepting a deal based on the selected player. The user may create the deal or some other user may create the deal that is acceptable by the user. For example, the smart device may be provided with an Application to trade players, wherein the application when used in the smart device allows the user to select the player, create the deal or accept the deal and to assign the first value to the players for the deal.
In some embodiments, the system (100) further comprises a communication interface module (108) configured to provide a deal based on the selected one player. The deal is either created by the user or accepted by the user. In some embodiments, the communication interface module (108) is further configured to observe a second value, wherein the second value is an absolute value as scored by the selected player in the sports event. In some embodiments, the deal being a CALL deal or a PUT deal.
In some embodiments, the system further comprises a microcontroller that is configured to determine a CALL point and to apply the CALL point. In some embodiments, the microcontroller is further configured to determine a PUT point and to apply the PUT point. In some embodiments, the microcontroller is further configured to cancel the deal in some situations. For example, if the selected player fails to attend the sports event, the deal is cancelled.
The microcontroller of the system is further configured to compare the first value with the second value. In some embodiments, if the deal is the CALL deal and if the second value is greater than or equal to the first value, profits to the user is realized. In some embodiments, if the deal is the PUT deal and if the second value is smaller than the first value, profits to the user is realized.
In some embodiments, the system is configured for comparing the first value with the second value, wherein if the deal is the CALL deal and if the second value is greater than or equal to the first value, profits to the user is realized. Alternatively, if the deal is the CALL deal and if the second value is smaller than, losses to the user is realized. The profits and losses that may be incurred to the user are in the form of points, but the invention provides the conversion of these points in real currency values that may be valid for transactions in bank accounts. For example, the realized profits or losses are equal to a value of applicable real currency, and the value of the applicable real currency is transferable to a bank account in real world.
In some embodiments, the system is configured for comparing the first value with the second value, wherein if the deal is the PUT deal and if the second value is smaller than the first value, profits to the user is realized. Alternatively, if the deal is the PUT deal and if the second value is greater than or equal to the first value, losses to the user are realized. As in the previous embodiments, the profits and losses that may be incurred to the user are in the form of points, but the invention provides the conversion of these points in real currency values that may be valid for transactions in bank accounts. For example, the realized profits or losses are equal to a value of applicable real currency, and the value of the applicable real currency is transferable to a bank account in real world.
The system and the method embodiments described above including the hardware devices, like processors, input modules, communication interface module and the micro-controllers, can be implemented in combination with software. For example, it is within the scope of the present invention to implement all the above-defined embodiments of the invention in software form, like an application running on android device, iOS devices and so on. The smart device described in the invention can be used to enable implementation of all the above-described embodiments in the hardware and software combination.
The figures and the forgoing description give examples of embodiments. Those skilled in the art will appreciate that one or more of the described elements may well be combined into a single functional element. Alternatively, certain elements may be split into multiple functional elements. Elements from one embodiment may be added to another embodiment. For example, orders of processes described herein may be changed and are not limited to the manner described herein. Moreover, the actions of any flow diagram need not be implemented in the order shown; nor do all the acts necessarily need to be performed. Also, those acts that are not dependent on other acts may be performed in parallel with the other acts. The scope of the embodiments is by no means limited by these specific examples. Numerous variations, whether explicitly given in the specification or not, such as differences in structure, dimension, and use of material, are possible.
, Claims:1. A method of trading a value of at least one player by a user in an online environment on a smart device, said method comprising:
- selecting the at least one player for trading in a sports event;
- providing a deal based on the selected one player;
- assigning a first value to the deal, wherein the first value is an absolute value in form of points;
- observing a second value, wherein the second value is an absolute value as scored by the selected player in the sports event; and
- comparing the first value with the second value,
wherein the deal being a CALL deal or a PUT deal.
2. The method as claimed in claim 1, wherein if the deal is the CALL deal and if the second value is greater than or equal to the first value, profits to the user is realized.
3. The method as claimed in claim 1, wherein if the deal is the PUT deal and if the second value is smaller than the first value, profits to the user is realized.
4. The method as claimed in any one of claims 1 to 3, wherein the user can operate in a buy/sell trade mode, a multi-bagger mode or a premium multi-bagger mode.
5. The method as claimed in claim 1, wherein the user assigns the first value for the at least one player based on his analysis and experience in the sports event.
6. The method as claimed in any one of claims 2 to 3, wherein the realized profits are equal to a value of applicable real currency, and the value of the applicable real currency is transferable to a bank account in real world.
7. The method as claimed in any one of claims 1 to 6, wherein a minimum value of the first value is pre-defined when the CALL deal is provided, and a maximum value of the first value is pre-defined when the PUT deal is provided.
8. The method as claimed in claim 1, wherein if the selected player fails to attend the sports event, the deal is cancelled.
9. A system (100) of trading a value of at least one player by a user in an online environment on a smart device, said system comprising:
- a user input module (102) configured for selecting the at least one player for trading in a sports event and for assigning a first value to the deal, wherein the first value is an absolute value in form of points;
- a communication interface module configured to provide a deal based on the selected one player, wherein the deal is either created by the user or accepted by the user when it was created by some other user, wherein the communication interface module is further configured for observing a second value, wherein the second value is an absolute value as scored by the selected player in the sports event; and
- a processor configured for comparing the first value with the second value,
wherein the deal being a CALL deal or a PUT deal.
10. The system as claimed in claim 1,
wherein if the deal is the CALL deal and if the second value is greater than or equal to the first value, profits to the user is realized, and/or
wherein if the deal is the PUT deal and if the second value is smaller than the first value, profits to the user is realized.