Patent ID: 8275695
Filing Date: 2012-09-25
Classification: G06Q,G07F,H01L

Abstract:
1. A computer-implemented method for conducting enhanced parimutuel wagering comprising: enabling at least two types of user-placed bets to be offered for placement in a common betting pool, there being a plurality, including more than one, of possible winning outcomes for each of the at least two types of user-placed bets, wherein the enabling of the at least two types of user-placed bets includes: receiving a first user-placed bet that is of a first one of the at least two types of user-placed bets; receiving a second user-placed bet that is of a second one of the at least two types of user-placed bets, at least one winning outcome of the second user-placed bet being mutually exclusive of each winning outcome of the first user-placed bet; converting, by a processor, the received first user-placed bet into an equivalent combination of a first plurality, including more than one, of the established fundamental bets, the first plurality including all of the established fundamental bets for which winning outcomes are consistent with winning outcomes of the received first user-placed bet; converting, by the processor, the received user-placed bet into an equivalent combination of a second plurality, including more than one, of the established fundamental bets, the second plurality being different than the first plurality and including all of the established fundamental bets for which winning outcomes are consistent with winning outcomes of the received second user-placed bet; and placing, by the processor, each of the equivalent combinations of the first and second pluralities of the established fundamental bets in the pool in place of the received user-placed bets, wherein each bet placed in the betting pool is one of the fundamental bets.