Patent ID: 11875643
Assignee: CFPH, LLC
Field: Control (Instruments)
Classification: CPC G | IPC G

Claim 12:
13. A method for distributed wagering on a high-speed wagering network, the method comprising:
controlling, by a processing device as a hub of the network, to:
distributing, over a communication network, odds for a wagering event at a host wagering facility, to a plurality of simulcast wagering facilities;
receiving, over the communication network, from a first simulcast wagering facility of the plurality of simulcast wagering facilities, a first bet on the wagering event;
receiving, over the communication network, from a second simulcast wagering facility of the plurality of simulcast wagering facilities, a second bet on the wagering event;
transmitting the first bet and the second bet, over the communication network, to the host wagering facility, wherein each of the first bet and the second bet comprises a timestamp, wherein the host wagering facility hosts the wagering event;
receiving, over the communication network, a stop bet command from the host wagering facility, wherein the stop bet command is an indication that no bets on the wagering event will be accepted;
receiving, over the communication network, from the host wagering facility an indication that the host wagering facility accepted the first bet based at least in part on the host wagering facility determining that the first bet was transmitted by the first simulcast wagering facility prior to the stop bet command being generated;
collecting audit information describing the first bet;
determining recalculated odds for the wagering event based on the first bet being placed on the wagering event;
in response to determining the recalculated odds, distributing, over the communication network, the recalculated odds for the wagering event to the plurality of simulcast wagering facilities;
receiving, over the communication network, from the host wagering facility an indication that the host wagering facility denied the second bet based at least in part on the host wagering facility determining that the second bet was transmitted by the second simulcast wagering facility subsequently to the stop bet command being generated;
conveying, over the communication network, to the second simulcast wagering facility that the second bet has been denied; and
determining an account settlement between the host wagering facility and the plurality of simulcast wagering facilities based at least in part on the audit information, and an outcome of the wagering event.