Patent ID: 7172508
Filing Date: 2007-02-06
Classification: G06Q,G07F

Abstract:
1. A method of playing a parimutuel betting game between a plurality of players, said parimutuel betting game based on events unfolding during a live sporting event, a principal objective of the game being to acquire the largest number of betting tokens by the end of the sporting event, wherein the players are in direct competition because payoffs are parimutuel style, comprising: allocating betting tokens to each of the players prior to commencement of said sporting event; a step of conducting a plurality of betting events, each said betting event based on a bettable event occurring during said sporting event, each said step of conducting a betting event comprising: selecting a betting event from said bettable events; administering at least one betting line for said betting event, each said administration of a betting line comprising: wherein l k takes values 1, 2, 3 . . . m, m is the number of branches outcome, lo is from a base of said hierarchical payoff tree structure, lo is the winning outcome that is a leaf of said hierarchical payoff tree structure, n=player placing bet, subbets(l bets(l wager(n, l share(n, lo)=wager(n, lo), and Bonus(l)=bonus(l) if subbet(l)>0, and 0 if subbet(l)=0.