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US Patent 7892089 Entrance-exchange structure and method

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Patent
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Patent attributes

Patent Jurisdiction
United States Patent and Trademark Office
United States Patent and Trademark Office
Patent Number
7892089
Date of Patent
February 22, 2011
Patent Application Number
10046101
Date Filed
January 11, 2002
Patent Primary Examiner
‌
Peter Dungba Vo
Patent 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.

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