Patent ID: 7452274
Filing Date: 2008-11-18
Classification: G07F

Abstract:
1. A computer-implemented method of managing bets, comprising: receiving one or more first type of bets from a first group of one or more bettors, each first type of bet associated with a bet amount and comprising a bet that a participant selected from a set of participants in an event will finish in a predetermined subset of finishing positions associated with the event, wherein the set of participants in the event comprises at least three participants; receiving one or more second type of bets from a second group of one or more bettors, each second type of bet associated with a bet amount and comprising a bet that the selected participant will not finish in the predetermined subset of finishing positions associated with the event, wherein at least one of the bettors in the second group of bettors is not in the first group of bettors; adding the bet amounts associated with the first type of bets with the bet amounts associated with the second type of bets to form a betting pool; and electronically determining an amount of a payout based at least in part on the betting pool.