Patent ID: 8137175
Filing Date: 2012-03-20
Classification: G06Q,G07F

Abstract:
1. For a race or contest in which a predetermined number of entries compete for winning position wherein for each of said entries respective predetermined odds of winning are given, a method for determining a plurality of wagers wherein each of said wagers is to be placed on a respective one in a subset of said entries comprising steps of: entering into a handheld device a maximum wager total; downloading into said handheld device said predetermined odds; establishing initial criteria that all of said wagers must satisfy wherein one of said criteria is a percentage rate of return on said maximum wager total that any one of said wagers must at least meet in the event said respective one of said entries with which said one of said wagers is associated wins said race or contest and further wherein said percentage rate of return is a preselected minimum rate of return for each of said wagers; calculating each of said wagers in accordance with said criteria, said predetermined odds and said maximum wager total including the step of deriving each of said wagers such that a sum of said wagers is equal to said maximum wager total wherein each of said wagers is derived in accordance with the formula displaying each of said wagers on a graphic user interface of said hand held device computing a percentage rate of return for each of said wagers that would be obtained in the event said respective one of said entries with which said one of said wagers is associated wins said race or contest; comparing said computed percentage rate of return for each of said wagers to said preselected minimum rate of return; and reiterating said deriving, computing and comparing steps until said percentage rate of return for each of said wagers at least meets said preselected rate of return.