Patent ID: 8007354
Filing Date: 2011-08-30
Classification: G06Q,G07F

Abstract:
1. A computer-based data processing method for providing pari-mutuel gambling with guaranteed minimum odds and known exact current odds on a wager or an event having a plurality of potential outcomes and an actual outcome, the method comprising the steps of: providing data to the first user as to a current state of any pool that is open, the first user determining the criteria of the first bet from the data; providing data to the second user as to a current state of any pool that is open; and the second user determining the criteria of the second bet from the data; a first user selecting criteria of a first bet; automatically placing the first bet if the selected criteria of the first bet meets a predetermined selection criteria, accepting the first bet, the first bet selects a first combination of the plurality of potential outcomes; a second user selecting criteria of a second bet, automatically placing the second bet if the selected criteria of the second bet meets the predetermined selection criteria, accepting the second bet that selects a second combination of the plurality of potential outcomes; and determining a winning bet from among the first bet and the second bet, wherein the winning bet most correctly selects the actual outcome of the event from the closest said selecting criteria of first and second bet by the users regardless of the exact winning outcome or not.