The patent published in 1999 by Mel Molnick, CEO of Home Gambling Network, pertains to a business method for remote wagering on live games and events utilizing electronic transactions.
Specifically, via remote wagering, gamblers can place bets from anywhere in the world without having to go to 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, 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.
Molnick, which is currently registering the patent in all EPO countries and member territories, anticipates filing numerous patent infringement lawsuits throughout Europe and the rest of the world.
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