Patent ID: 7740539
Filing Date: 2010-06-22
Classification: G06Q,G07F

Abstract:
1. A method of providing a betting game between a plurality of players, wherein said betting game is based on actions occurring during a live event and the winning payoffs of said betting game are in pari-mutuel style, comprising: a) electronically providing one or more selectable betting events to said plurality of players through a computer network while said live event is in progress, wherein each betting event is based on actions occurring during said live event; b) providing an asymmetrical and unpredictable cycle of open and closed betting lines for said selected betting event during the progress of the live event until a termination event occurs with regard to said selected betting event; c) allowing the players an amount of time within which to selectively bet on said betting lines; d) freezing all bets on said open betting lines such that said frozen bets are not available for further betting until a payoff has been made on said selected betting event; e) closing said betting lines after an unpredictable interval of time such that no further bets may be placed on said lines and the odds affecting the payoffs on said lines are fixed; f) monitoring said live event until said termination event occurs with regard to said selected betting event; g) terminating said betting event upon occurrence of said termination event; and h) upon termination of said selected betting event, paying off winners of said betting lines in pari-mutuel style, according to the odds fixed at the time each betting line is closed.