Patent Publication Number: US-7713125-B2

Title: Jackpot race event

Description:
TECHNICAL FIELD OF THE INVENTION 
   This invention relates in general to systems that facilitate betting on events and, more particularly, to a system and method for conducting a jackpot race event. 
   BACKGROUND OF THE INVENTION 
   Wagering on sporting events, such as horse races, for example, is a large and growing industry in many parts of the world. Various types of betting products or systems are available for various types of sporting events For example, typical horse racing bets allow bettors to bet on the finishing position of a single horse or several horses in a particular race or series of races. For instance, a bettor can bet on a particular horse to finish first (win), finish in the top two (place), or finish in the top three (show). A bettor may also make various combination bets with multiple horses, such as an exacta bet (covering the top two finishing horses in order) or a trifecta bet (covering the top three finishing horses in order). In addition, a bettor may bet on a series of races, such as the daily double (winners of two consecutive races), the pick-three (winners of three consecutive races), and the pick-six (winners of six consecutive races), for example. 
   In a pari-mutuel betting system, all bets regarding a particular event are aggregated, a commission (or “take-out”) is taken by the track, and the remainder is distributed among the winning bettors. For example, pari-mutuel betting systems are commonly used in North America (and other various places throughout the world) for betting on horse races. 
   SUMMARY OF THE INVENTION 
   According to one embodiment, a method for wagering on a jackpot race event comprises receiving a qualifying bet associated with a customer. The qualifying bet comprises a first bet component and a second bet component. The first bet component is associated with a first qualifying race event and comprises a first bet amount. The second bet component is associated with a second qualifying race event and comprises a second bet amount. If both the first bet component and the second bet components are winning bets, the method continues by allocating to the customer a particular number of jackpot bets for a jackpot race event. The particular number of jackpot bets is based at least in part upon the first bet amount and the second bet amount. The first bet amount is allocated to a common pari-mutuel pool for the first qualifying race event. 
   According to another embodiment, a system for wagering on a jackpot race event, comprises a memory and a processor. The memory stores a qualifying bet associated with a customer and comprising a first bet component and a second bet component. The first bet component is associated with a first qualifying race event and comprises a first bet amount. The second bet component is associated with a second qualifying race event and comprises a second bet amount. The processor identifies the outcome of the first and second bet components. If both the first bet component and the second bet components are winning bets, the processor allocates to the customer a particular number of jackpot bets for a jackpot race event. The particular number of jackpot bets is based at least in part upon the first bet amount and the second bet amount. 
   Various embodiments of the present invention may benefit from numerous advantages. It should be noted that one or more embodiments may benefit from some, none, or all of the advantages discussed below. 
   In prior systems, bets are received on individual races and the full payout for those races are given when the races are concluded. This can cause a peak in activity based around certain races. Such a spike in betting activity within a small period of time can cause an over consumption of network resources. By having a jackpot race at the end of the racing day, for example, where the bets placed on this race are is linked to the results of qualifying races which are spread throughout the day, bets placed by bettors on the qualifying races are also spaced throughout the day. Therefore the betting system will receive bets from bettors over a larger period of time throughout the course of the day. In this way, the load on the network resources is spread throughout the day. This technical advantage is applicable to the settling of the bets as well as the placing of bets on the races. For example, just as with placing and receiving bets under the present disclosure, the winning bets under the present disclosure may be determined and paid over a larger period of time. This also frees up network resources, increases speed and throughput efficiency. 
   Other advantages will be readily apparent to one having ordinary skill in the art from the following figures, descriptions, and claims. 

   
     BRIEF DESCRIPTION OF THE DRAWINGS 
     For a more complete understanding of the present invention and for further features and advantages, reference is now made to the following description, taken in conjunction with the accompanying drawings, in which: 
       FIG. 1  illustrates an example system for providing and managing bets related to a jackpot race event in accordance with an embodiment of the present invention; 
       FIGS. 2A to 2C  illustrate example jackpot qualifying bets used in the system of  FIG. 1 ; 
       FIG. 3  illustrates an example betting form used in the system of  FIG. 1 ; and 
       FIG. 4  is a flowchart illustrating an example method of receiving and managing bets related to jackpot race events in accordance with an embodiment of the present invention. 
   

   DETAILED DESCRIPTION OF EXAMPLE EMBODIMENTS OF THE INVENTION 
     FIG. 1  illustrates an example system  10  for providing and managing jackpot bets and associated jackpot qualifying bets for race events in accordance with an embodiment of the present invention. System  10  includes one or more betting system interfaces  14  and a betting system platform  16  coupled by one or more communications networks  18 . In general, one or more customers  20  may receive betting information (such as event times, betting rules, betting options and odds, for example) and/or place bets  12  via betting system interfaces  14 . In some embodiments, bets  12  are received by betting system interfaces  14  and communicated to betting system platform  16 . Betting system platform  16  may then store the received bets  12 , determine appropriate odds, bet results and payouts, and communicates such odds, bet results and payouts to one or more of the betting system interfaces  14 . Bets  12  may comprise traditional bets  30 , jackpot qualifying bets  32 , and/or jackpot bets  34 , as described in greater detail below. 
   System  10  permits customers  20  to place bets  12  on a race event having a group of race participants, such as a horse race, dog race, or auto race, for example. For example, a race track may host a series of horse race events throughout the day. In addition to the traditional bets  30  that a customer  20  can make at the race track, a customer  20  can bet on a designated number (e.g., three) of selected race events to qualify for betting on a jackpot race event. Although the remainder of this description details examples using three selected race events, it should be understood that any suitable number of race events may be used. These preliminary race events are referred to as “qualifying” race events and the bet made on them referred to as a jackpot qualifying bet  32 . Each jackpot qualifying bet  32  comprises one or more bet components  100  (illustrated in detail in  FIGS. 2A-2C ). In one embodiment, all of the jackpot qualifying bets  32  are generally made using a particular betting form (illustrated in detail in  FIG. 3 ), and the customer  20  can select which race events to use as the qualifying race events. The types of bets made on these qualifying race events are generally exacta bets, but may be any kind of exotic bet, including trifecta bets, quinella bets, and superfecta bets, among others. Moreover, variations and/or combinations of these bets, such as “wheel bets” and/or “box bets,” may also be made for a particular event in a jackpot qualifying bet  32 . If the customer  20  wins at least one bet component  100  in each of the designated number of qualifying race events for a qualifying bet  32 , then customer  20  earns a particular number of bets in the associated jackpot race event, such as a jackpot race event to be run at the end of the racing day, at the end of the racing week, at the end of the racing season, or at any other suitable time. The bets earned for the jackpot race event by a customer  20  are referred to as jackpot bets  34 . In one embodiment, if a customer  20  fails to win a bet component  100  in even a single qualifying race event for the jackpot qualifying bet  32 , then that customer  30  does not earn any jackpot bets  34  for the jackpot race event associated with that jackpot qualifying bet  32 . 
   System  10  may also permit customers  20  to place traditional bets  30  in addition to bets  32  and  34 . Traditional bets  30  may include bets such as win bets, place bets, show bets, exacta bets, trifecta bets, wheel bets, box bets, daily double bets, and pick-six bets, among others, for example. In some embodiments, a customer  20  may place one or more traditional bets  30  and one or more jackpot qualifying bets  32  for the same race event or group of race events. 
   Odds and/or payouts for bets  12  provided by system  10  may be determined in any suitable manner. For example, odds and/or payouts for some bets  12  provided by system  10  may be determined according to a pari-mutuel system in which the wager amounts for a group of bets  12  (such as a particular type of bet  12  or bets  12  regarding a particular race event, for example) are pooled, a commission (or “take-out”) is taken by the track or other wagering provider, and the remainder is distributed among the winning bettors. Alternatively, odds and/or payouts for some bets  12  provided by system  10  may be determined according to some other system, such as a betting system in which customers  20  take positions against a bookmaker, for example. For some bets  12 , predetermined or fixed odds may be determined and communicated to customers  20 . 
   The bet amounts for the same types of traditional bets  30  and jackpot qualifying bets  32  may be allocated to a common pari-mutuel pool for any given race event once these bets are placed. Therefore, if the type of bets are exacta bets, then an exacta pool may be established using bet amounts from the traditional exacta bets  30  and the jackpot qualifying exacta bets  32 . However, separate pari-mutuel pools may be established for traditional bets  30  and jackpot qualifying bets  32  for different types of bets (e.g., exacta, trifecta, superfecta, etc.) in each race event. By using a common pari-mutuel pool for common types of bets  30  and  32 , system  10  can achieve greater liquidity in the wagering pools. For example, because the exacta bet is a very popular bet in horse-racing, the pari-mutuel pool for the exacta bet will have liquidity. By combining the amounts bet on an exacta type jackpot qualifying bet  32  with the existing exacta pool for a given race event, the race track does not need to be concerned about whether there is enough money in the pool to warrant offering the jackpot bets  34 . 
   The payouts for these bets  12  may be determined in a pari-mutuel manner according to the size of the various pools, the odds of the participants selected for the bets  12 , and the amount of the bets  12 . The jackpot race event is associated with a jackpot race pool. For each winning jackpot qualifying bet  32 , the customer  20  will receive a percentage of the posted payout (e.g., 75%) with the remaining percentage (e.g., 25%) being allocated to the jackpot race pool. In contrast, a customer  20  would receive the full payouts (less commission) associated with a traditional bet  30 . In this regard, the customer  20  agrees to contribute a portion of a payout from a winning bet in a qualifying race event into a jackpot race pool in exchange for the opportunity to win one or more bets on the associated jackpot race event. 
   The number of jackpot bets  34  that the customer  20  earns for the jackpot race event can depend upon one or more factors, such as, for example, the amounts that were bet by the customer  20  in the qualifying race events of the associated jackpot qualifying bet  32  and/or the odds of the participants selected in the jackpot qualifying bet  32 . For example, the more a customer  20  bets in the qualifying race events of a jackpot qualifying bet  32 , the more jackpot bets  34  are earned for the jackpot race event. In one embodiment, for every $2 bet on a qualifying race event in a jackpot qualifying bet  32 , the customer  20  may earn one $2 jackpot bet  34  in the jackpot race event. Any other suitable proportion of amounts bet on qualifying race events can be used to determine the number of jackpot bets  34  earned by a customer  20 . 
   In another example, the higher the odds for the participants selected in the jackpot qualifying bet  32 , the more jackpot bets  34  are earned by the customer  20  for the jackpot race event. In this regard, a customer  20  may be rewarded for betting on long shots in the jackpot qualifying bet  32 . One way to account for the odds of participants when determining the number of jackpot bets  34  to award to customers  20  is to award one or more additional jackpot bets  34  to customers  20  when a particular winning payout on a jackpot qualifying bet  32  is greater than an average payout for that same type bet throughout the day. For example, if the payouts on exacta bets  30  were averaged throughout a racing day at a particular race-track, each customer  20  that won a component  100  in a jackpot qualifying exacta bet  32  that paid more than the day&#39;s average exacta payout would be rewarded with one or more additional jackpot bets  34 . Therefore, if the average exacta payout at the race track on the day is $30.00, then a customer  20  that has: (1) a component  100  as a part of a winning jackpot qualifying exacta bet  32  having a payout of $14.00 on a $2.00 wager would receive one jackpot bet  34 ; (2) a component  100  as a part of a winning jackpot qualifying exacta bet  32  having a payout of $32.00 on a $2.00 wager would receive one jackpot bet  34  plus at least one additional jackpot bet  34 ; and (3) a component  100  as a part of a winning jackpot qualifying exacta bet  32  having a payout of $44.00 on a $2.00 wager would receive one jackpot bet  34  plus at least one additional jackpot bet  34 . 
   Depending on the margin of difference by which a qualifying jackpot bet  32  exceeds the average payout for that type of bet, the customer  20  may receive still additional jackpot bets  34 . Therefore, for the bet  32  above in which the payout was $32.00 on a $2.00 wager, the customer  20  may receive one additional jackpot bet  34 , whereas for the bet  32  above in which the payout was $44.00 on a $2.00 wager, the customer  20  may receive two additional jackpot bets  34 . Any suitable margins of difference and additional numbers of jackpot bets  34  for these margins of difference may be used in system  10 . 
   In a variation of this embodiment, rather than comparing the payouts of winning bets  32  against the average payout for that same type bet, the payouts of winning bets  32  may be compared against a predetermined payout, a randomly determined payout, or a pseudo-randomly determined payout, as appropriate, for determining one or more additional jackpot bets  34  to award to a customer  20 . 
   In still another example, a customer  20  may be rewarded for betting on long shots by comparing the odds of one or more participants in a winning jackpot qualifying bet  32  against a threshold set of odds. In particular, if the odds of a single participant in a component  100  of a winning jackpot qualifying bet  32  is greater than the threshold odds, then the customer  20  may be rewarded with one or more additional jackpot bets  34 . The number of additional jackpot bets  34  awarded to the customer  20  may increase as the number of participants in the bet  32  having odds greater than the threshold odds increases beyond one. Therefore, if a component  100  of a winning jackpot qualifying bet  32  has multiple participants with odds greater than the threshold odds, then a larger number of jackpot bets  34  may be awarded than if only a single participant was selected with odds greater than the threshold odds. The threshold odds to be used in this comparison may be predetermined, determined after betting is concluded based on average odds for winning bets, randomly determined, or pseudo-randomly determined as appropriate. 
   Any suitable number and combination of the methods described herein for determining the number of jackpot bets  34  awarded to a customer can be used in system  10 . Therefore, a formula may consider the amounts bet on components  100  of winning jackpot qualifying bets  32  and the odds of the participants for such winning jackpot qualifying bets  32  to determine the number of jackpot bets  34  to award to a customer  20 . This formula may be weighted toward one characteristic or another, or it may be evenly balanced among all characteristics that are considered. 
   Betting system interfaces  14  may include any suitable interface between a customer  20  and betting system platform  16 . For example, as shown in  FIG. 1 , betting system interfaces  14  may include physical interfaces, such as track interfaces  40  and/or off-track interfaces  42 . Track interfaces  40  are generally located at a track, while off-track interfaces  42  are generally located at an off-track-betting (OTB) establishment, such as an OTB parlor. Track interfaces  40  and off-track interfaces  42  may include tellers  44 , which may receive bets  12  from and distribute payouts to customers  20 , and/or monitors  46 , which may be viewed by customers  20  to monitor betting information such as the event time, the current odds, and the projected or actual payouts for various bets  12 , for example. In some situations, such information may be updated substantially in real time or at preset intervals as new bets  12  are placed and/or as information regarding the event changes, for example. Monitors  46  may include, for example, tote-boards or closed-circuit televisions located at a track or OTB establishment. 
   Track interfaces  40  and/or off-track interfaces  42  may also include one or more self-service betting machines  48 . In some embodiments, self-service betting machines  48  allow customers  20  to insert payment into the machine (such as cash or by using a voucher or a credit or debit card), place one or more traditional bets  30 , jackpot qualifying bets  32 , and/or jackpot bets  32 , and receive a printout (such as a ticket, for example) indicating the bet or bets placed. Printouts for winning bets may be inserted into the self-service betting machine, such as to receive a payment voucher (which may be used to receive a payout from a teller  44 ) or to place additional bets  12 . In other embodiments, self-service betting machines  48  allow customers  20  to use a credit or debit card to place bets  12 . The credit or debit card may have an associated account, which may be a betting account provided and/or managed by a betting account provider. In some embodiments, after the race event is completed, a customer  20  may insert or swipe his or her credit or debit card in the self-service betting machines  48  in order to update the balance on the card. Self-service betting machines  48  may also allow the customer  20  to print out payment vouchers which may be presented to a teller  44  in order to receive payments. 
   As shown in  FIG. 1 , betting system interfaces  14  may also include various non-physical interfaces, such as one or more telephone operators  50  and one or more web pages  54 . Customers  20  may access or communicate with such non-physical interfaces via one or more communications networks  56 . Communications networks  56  may include one or more servers, routers, switches, repeaters, backbones, links and/or any other appropriate type of communication devices coupled by links such as wire line, optical, wireless, or other appropriate links. In general, communication network  56  may include any interconnection found on any communication network, such as a telephone network, a local area network (LAN), metropolitan area network (MAN), wide area network (WAN), the Internet, portions of the Internet, or any other data exchange system. To access betting system interface  14  using communication networks  56 , customers  20  may use a computer, a personal digital assistant (PDA), a cell-phone, a remote paging device, an electronic mail communication device, a handheld betting device, or any other suitable mobile device. In certain embodiments, customers  20  may receive any suitable information, such as betting information, from betting system platform  16  via mobile devices using, for example, communication networks  56  and betting system interfaces  14 . 
   Telephone operators  50  may communicate betting information (such as event times, betting rules, betting options and odds, for example) to, and take bets  12  from, customers  20 . Similarly, web pages  54  may communicate betting information to customers  20  and allow customers  20  to place bets  12 . One or more of such web pages  54  may be hosted by one or more servers associated with system  10 , which server or servers may also host betting system platform  16  in some embodiments. In some embodiments, betting information available to customers  20  via web pages  54  may be updated substantially in real time or at preset intervals as new bets  12  are placed and/or as information regarding the event changes, for example. 
   In some embodiments, one or more web pages  54  may be provided by, or associated with, an Internet betting provider  58 , for example. Internet betting provider  58  may provide Internet account wagering by providing online betting accounts to one or more customers  20 . Using an online betting account, a customer  20  may interface with one or more web pages  54  associated with the Internet betting provider  58  in order to fund the account, view betting information regarding race events, and place bets  12 . Such online betting accounts may include one or more various types of accounts, such as deposit accounts, credit accounts, stop-loss accounts, and hybrid accounts, for example. 
   Some or all of the betting system interfaces  14  of system  10  may be operable to offer or receive all types of bets  12 . However, in some embodiments, one or more betting system interfaces  14  may only offer or receive either jackpot qualifying bets  32  and jackpot bets  34 , or traditional bets  30 . For example, in a particular embodiment, a set of web pages associated with betting system platform  16  may allow customers  20  to place all types of bets  12 , while a particular self-service betting machine  48  may only allow customers  20  to place either jackpot qualifying bets  32  and jackpot bets  34 , or traditional bets  30 . 
   As discussed above, betting system platform  16  is operable to receive bets  12  from betting system interfaces  14 , store the received bets  12 , determine appropriate odds, bet results and payouts, and communicate such odds, bet results and/or payouts to one or more of the betting system interfaces  14 , which may then display such odds, bet results and/or payouts to customers  20 . As shown in  FIG. 1 , betting system platform  16  includes a processor  70  coupled to a memory  72 . Processor  70  is generally operable to execute a betting system software application  74  or other computer instructions to determine current odds data  76 , bet results  78 , and payouts  80 , which are discussed below in greater detail. 
   As discussed above, betting system platform  16  comprises processor  70  and memory  72 . Processor  70  may comprise any suitable processor that executes betting system software application  74  or other computer instructions, such as a central processing unit (CPU) or other microprocessor, and may include any suitable number of processors working together. Memory  72  may comprise one or more memory devices suitable to facilitate execution of the computer instructions, such as one or more random access memories (RAMs), read-only memories (ROMs), dynamic random access memories (DRAMs), fast cycle RAMs (FCRAMs), static RAM (SRAMs), field-programmable gate arrays (FPGAs), erasable programmable read-only memories (EPROMs), electrically erasable programmable read-only memories (EEPROMs), or any other suitable volatile or non-volatile memory devices. 
   Memory  72  is generally operable to store various information that may be used by processor  70  in determining odds, bet results and/or payouts. For example, memory  72  may comprise any suitable number of databases, which may be co-located or physically and/or geographically distributed. In the example shown in  FIG. 1 , memory  72  may store any or all of the following: betting system software application  74 , current odds data  76 , bet results  78 , payouts  80 , race event parameters  82 , bet parameters  84 , and race results  86 . 
   Current odds data  76  may include current or near-current data regarding, for example, (a) the wager amounts stored in pari-mutuel pools for various bets  12 , (b) current odds data for various bets  12  (whether such bets  12  are pari-mutuel or fixed odds bets), and/or (c) potential payout data for various bets  12 , such that customers  20  may determine the potential payouts for bets  12  based on the wager amounts of such bets  12 . As discussed above, processor  70  is operable to execute betting system software application  74  to determine such current odds data  76 . Processor  70  may determine such current odds data  76  based at least on data received from memory  72  and/or one or more betting system interfaces  14 . In addition, processor  70  may update such current odds data  76  based on new information being received by betting system platform  16 . In some embodiments, processor  70  may update current odds data  76  in real time, substantially in real time, or at preset intervals (such as every 30 seconds, for example). 
   As shown in  FIG. 1 , current odds data  76  may be communicated to one or more betting system interfaces  14  via communications network  18 , as indicated by arrow  90 . Current odds data  76  may then be made available to customers  20 , such as via tote boards or monitors  46  located at a track or OTB establishment, for example, or in appropriate web page(s)  54  that may be accessed by customers  20 , for example. In this manner, customers  20  may have access to real-time or substantially real-time current odds data  76  regarding various bets  12  or race events. 
   Bet results  78  may comprise various data regarding the results of various bets  12  (including traditional bets  30 , jackpot qualifying bets  32 , and/or jackpot bets  34 ), such as the identity of the customer  20  who placed the bet  12 , the result of the bet, the determined payout  80  for the bet  12  and/or whether the payout  80  was distributed to the customer  20 , for example. Possible results for a bet  12  may include, for example, “win,” “lose,” “push,” or “no action.” Processor  70  may determine such results for a bet  12  based on race event parameters  82  regarding one or more relevant race events, bet parameters  84  regarding the bet  12 , and race results  86  regarding one or more relevant race events. 
   Processor  70  may determine payouts  80  for each winning bet  12  based on various data depending on whether the bet  12  is a pari-mutuel, fixed-odds, or other type of bet. Processor  70  may determine payouts  80  for winning pari-mutuel and fixed-odds bets  12  according to known methods for determining payouts for such types of bets. It should be understood that the payouts  80  determined by betting system platform  16  may comprise potential payouts and profits, which may be calculated and/or updated dynamically prior to the race, or actual payouts and profits, which may be calculated after betting on the race has been closed, or after the race has been run and/or declared “official.” As described above, the jackpot race event is associated with a jackpot race pool. For each winning jackpot qualifying bet  32 , the customer  20  will receive a percentage of the posted payout (e.g., 75%) with the remaining percentage (e.g., 25%) being allocated to the jackpot race pool. These allocations may be reflected in payouts  80  and/or bet parameters  84 . 
   Race event parameters  82  may comprise various parameters of one or more race events, such as, for example, the type of race event, the time, date and location of the race event and/or the number (or in some cases, the name) of each of the participants in the race event. 
   Bet parameters  84  may comprise various parameters of one or more received bets  12 , such as the identity of the customer  20  who placed the bet  12 , the manner in which the bet  12  was placed (such as via telephone, the Internet, or in person at a track or OTB establishment, for example), the type of bet  12  (such as whether the bet  12  is a traditional bet  30 , a jackpot qualifying bet  32 , or a jackpot bet  34 , for example), the commission rate on the bet  12 , the qualifying race events and the particular participants for a jackpot qualifying bet  32 , and/or the wager amount of the bet  12 . 
   Race results  86  may comprise various data regarding the results of one or more race events. Race results  86  may also include the outcome of each jackpot qualifying bet  32  and the constituent qualifying race events. In this regard, certain race results may be personalized for each customer  20  in accordance with their particular jackpot qualifying bets  32 . 
   As discussed above, one or more communications networks  18  couple and facilitate wireless or wireline communication between one or more betting system interfaces  14  and betting system platform  16 . Each communication network  18  may include one or more servers, routers, switches, repeaters, backbones, links and/or any other appropriate type of communication devices coupled by links such as wire line, optical, wireless, or other appropriate links. In general, each communication network  18  may include any interconnection found on any communication network, such as a local area network (LAN), metropolitan area network (MAN), wide area network (WAN), the Internet, portions of the Internet, or any other data exchange system. 
   It should also be understood that one, some or all of the components of betting system platform  16  may be located together or may be physically or geographically distributed. In addition, one, some or all of the components of betting system platform  16 , as well as any wager pools (such as pari-mutuel pools, for example) associated with jackpot qualifying bets  32  and/or jackpot bets  34 , may be located at a track at which race events associated with such bets are hosted or at any other suitable location, such as at another track or OTB entity, for example. In some embodiments, for example, pari-mutuel pools for jackpot qualifying bets  32  and/or jackpot bets  34  are hosted by the track at which the race events covered by such bets are occurring. In other embodiments, pari-mutuel pools for particular jackpot qualifying bets  32  and/or jackpot bets  34  are hosted by a track or OTB entity separate from the track at which the race events covered by such bets are occurring. 
   The operation of jackpot qualifying bets  32  and jackpot bets  34  is explained in greater detail with reference to  FIGS. 2A-2C .  FIG. 2A  illustrates an example jackpot qualifying bet  32   a  for a customer  20   a .  FIG. 2B  illustrates an example jackpot qualifying bet  32   b  for a customer  20   b .  FIG. 2C  illustrates an example jackpot qualifying bet  32   n  for a customer  20   n . In this example, assume that each of customers  20   a ,  20   b , and  20   n  are betting on one or more of a plurality of horse races held at a race track. Each of the customers  20  makes a jackpot qualifying bet  32  to earn jackpot bets  34  for a jackpot race event to be held at the end of the racing day. 
   Referring to  FIG. 2A , an example jackpot qualifying bet  32   a  comprises a bet on three qualifying race events from among a plurality of race events at a particular race track. Customer  20   a  may select these particular qualifying race events or they may have been selected on behalf of customer  20  (e.g., randomly, pseudo-randomly, according to a pattern, according to past preferences, or otherwise), such as by betting system platform  16 . The particular qualifying race events selected for jackpot qualifying bet  32   a  include Race  2 , Race  5 , and Race  6 . In one embodiment, each of the qualifying race events are selected at the time the jackpot qualifying bet  32  is made. In another embodiment, a customer  20  may pay the bet amounts for all the bet components  100  for a jackpot qualifying bet  32  but the actual race events and/or participants may be selected at various times after the jackpot qualifying bet  32  is made. In this regard, the customer  20  can process additional handicapping information leading up to the post time of a particular race event prior to finalizing a particular bet component  100 . 
   Jackpot qualifying bet  32   a  comprises a separate bet component  100  associated with each corresponding qualifying race event. For example, a bet component  100   a  is associated with Race  2 ; bet component  100   b  is associated with Race  5 ; and bet component  100   c  is associated with Race  6 . For each bet component  100  of a jackpot qualifying bet  32 , a bet type is determined. In this example, the bet on the jackpot race event for which the customer  20   a  is attempting to qualify comprises an exacta bet. As a result, each of the bet components  100   a - c  of the qualifying bet  32   a  also comprise exacta bets. In this regard, to win a particular bet component  100 , the customer  20   a  must correctly select the first and second participants to finish the selected race event. 
   As illustrated in  FIG. 2A , bet component  100   a  indicates that customer  20   a  bet $20.00 on participants  2  and  5  to finish first and second, respectively, in Race  2 . Bet component  100   b  indicates that customer  20   a  bet $30.00 on participants  3  and  7  to finish first and second, respectively, in Race  5 . Bet component  100   c  indicates that customer  20   a  bet $2.00 on participants  1  and  8  to finish first and second, respectively, in Race  6 . According to the rules of the jackpot race events described herein, if customer  20   a  is correct on all three bet components  100   a - c  for jackpot qualifying bet  32   a , then customer  20   a  wins a particular number of jackpot bets  34  for the associated jackpot race event. If a customer  20   a  loses even a single bet component  100  of qualifying bet  32 , then customer  20   a  does not win any jackpot bets  34 . Also according to the rules, customer  20   a  receives a percentage of the posted payout (e.g., 75%) for each particular qualifying race event that is won with the remaining percentage (e.g., 25%) being allocated to the jackpot race pool. 
     FIG. 2A  also illustrates the results of the individual bet components  100   a - c  for qualifying bet  32   a . In this example, customer  20   a  won each bet component  100   a - c  and therefore won a particular number of jackpot bets  34  for the jackpot race event. The particular number of jackpot bets  34  won by the customer  20   a  depended, in this example, upon the bet amounts for each bet component  100   a - c . For example, because customer  20   a  won bet component  100   a  in which $20.00 was bet, customer  20   a  won ten $2 jackpot bets  34 . Because customer  20   a  won bet component  100   b  in which $30.00 was bet, customer  20   a  won fifteen $2 jackpot bets  34 . Because customer  20   a  won bet component  100   c  in which $2.00 was bet, customer  20   a  won one $2 jackpot bet  34 . Therefore, the total number of jackpot bets  34  won by customer  20   a  in qualifying bet  32   a  is twenty-six. In other embodiments, the odds of the participants selected for each bet component  100   a - c  are taken into account to determine the number of jackpot bets  34  won by customer  20   a . For example, customer  20   a  may have received a higher number of jackpot bets  34  by betting on participants with higher odds (e.g., long shots) than by betting on participants with lower odds (e.g., favorites). This may be determined, as described above, by comparing the payouts for the winning bets against the average payout throughout the day for the same type of bet. Or, it may be determined by comparing the odds of one or more participants against a threshold set of odds. 
   Referring to  FIG. 2B , an example jackpot qualifying bet  32   b  comprises a bet on three qualifying race events from among a plurality of race events at the particular race track. The particular qualifying race events selected for jackpot qualifying bet  32   b  include Race  1 , Race  5 , and Race  7 . Jackpot qualifying bet  32   b  comprises a bet component  100   a  associated with Race  1 , bet component  100   b  associated with Race  5 , and bet component  100   c  associated with Race  7 . The bet type for each of these bet components  100   a - c  is an exacta bet. In this regard, to win a particular bet component  100 , customer  20   b  must correctly select the first and second participants to finish the selected race event. 
   As illustrated in  FIG. 2B , bet component  100   a  indicates that customer  20   b  bet $4.00 on participants  10  and  12  to finish first and second, respectively, in Race  1 . Bet component  100   b  indicates that customer  20   b  bet $30.00 on participants  3  and  7  to finish first and second, respectively, in Race  5 . Bet component  100   c  indicates that customer  20   b  bet $22.00 on participants  3  and  9  to finish first and second, respectively, in Race  7 . If customer  20   b  is correct on all three bet components  100   a - c  for jackpot qualifying bet  32   b , then customer  20   b  wins a particular number of jackpot bets  34  for the associated jackpot race event. If customer  20   b  loses even a single bet component  100   a - c  of qualifying bet  32   b , then customer  20   b  does not win any jackpot bets  34 . Additionally, customer  20   b  receives a percentage of the posted payout (e.g., 75%) for each particular qualifying race event that is won with the remaining percentage (e.g., 25%) being allocated to the jackpot race pool. 
     FIG. 2B  also illustrates the results of the individual bet components  100   a - c  for qualifying bet  32   b . In this example, customer  20   a  won bet components  100   a  and  100   b , but lost bet component  100   c . As a result, customer  20   b  did not win any jackpot bets  34  for the jackpot race event. In particular, because customer  20   a  won bet component  100   a  in which $4.00 was bet, customer  20   a  would have won two $2 jackpot bets  34 . Moreover, because customer  20   b  won bet component  100   b  in which $30.00 was bet, customer  20   a  would have won fifteen $2 jackpot bets  34 . However, because customer  20   b  lost bet component  100   c , customer  20   b  did not win any jackpot bets  34 . Even though customer  20   b  did not win any jackpot bets  34  from qualifying bet  32 , customer  20   b  still contributed a portion of the posted payouts for bet components  100   a  and  100   b  which were won to the jackpot race pool. 
   Referring to  FIG. 2C , an example jackpot qualifying bet  32   n  comprises a bet on three qualifying race events from among a plurality of race events at the particular race track. The particular qualifying race events selected for jackpot qualifying bet  32   n  include Race  3 , Race  5 , and Race  7 . Jackpot qualifying bet  32   n  comprises a bet component  100   a  associated with Race  3 ; bet component  100   b  associated with Race  5 , bet component  100   c  associated with Race  5 , and bet component  100   d  associated with Race  7 . The bet type for each of these bet components  100   a - d  is an exacta bet. In this regard, to win a particular bet component  100 , customer  20   n  must correctly select the first and second participants to finish the selected race event. 
   As illustrated in  FIG. 2C , bet component  100   a  indicates that customer  20   n  bet $50.00 on participants  3  and  10  to finish first and second, respectively, in Race  3 . Bet component  100   b  indicates that customer  20   n  bet $100.00 on participants  3  and  7  to finish first and second, respectively, in Race  5 . Bet component  100   c  indicates that customer  20   n  bet $100.00 on participants  7  and  3  to finish first and second, respectively, in Race  5 . Thus, customer  20   n  has multiple bet components  100   b  and  100   c  associated with Race  5 . In this case, for example, customer  20   n  made an “exacta box bet” on participants  3  and  7  in Race  5 , resulting in bet components  100   b  and  100   c . Bet component  100   d  indicates that customer  20   n  bet $40.00 on participants  2  and  9  to finish first and second, respectively, in Race  7 . If one of bet components  100   b  or  100   c  on Race  5  is a winner, and each of bet components  100   a  and  100   d  on Races  3  and  7 , respectively, is a winner, then customer  20   n  wins a particular number of jackpot bets  34  for the associated jackpot race event. If customer  20   n  loses even a single bet component  100   a  or  100   d  of qualifying bet  32   n , or both of bet components  100   b  and  100   c , then customer  20   n  does not win any jackpot bets  34 . Additionally, customer  20   n  receives a percentage of the posted payout (e.g., 75%) for each particular qualifying race event that is won with the remaining percentage (e.g., 25%) being allocated to the jackpot race pool. 
     FIG. 2C  also illustrates the results of the individual bet components  100   a - d  for qualifying bet  32   n . In this example, customer  20   n  won a bet component  100  for each race event and therefore won a particular number of jackpot bets  34  for the jackpot race event. This is true despite the fact that bet component  100   c , on Race  5 , was a loser, because bet component  100   b , also on Race  5 , was a winner. The particular number of jackpot bets  34  won by the customer  20   n  depended, in this example, upon the bet amounts for each winning bet component  100   a - d . For example, because customer  20   n  won bet component  100   a  in which $50.00 was bet, customer  20   n  won twenty-five $2 jackpot bets  34 . Because customer  20   n  won bet component  100   b  in which $100.00 was bet, customer  20   n  won fifty $2 jackpot bets  34 . Because customer  20   n  won bet component  100   d  in which $40.00 was bet, customer  20   n  won twenty $2 jackpot bet  34 . Therefore, the total number of jackpot bets  34  won by customer  20   n  in qualifying bet  32   n  is ninety-five. In other embodiments, the odds of the participants selected for each bet component  100   a - d  are taken into account to determine the number of jackpot bets  34  won by customer  20   n . For example, customer  20   n  may have received a higher number of jackpot bets  34  by betting on participants with higher odds (e.g., long shots) than by betting on participants with lower odds (e.g., favorites). 
   Customers  20   a  and  20   n , among others, now have the opportunity to place a number of jackpot bets  34  on the outcome of the jackpot race event for which they qualified by winning qualifying jackpot bets  32   a  and  32   n , respectively. In one embodiment, this jackpot race event is run at the end of the racing day at the race track. As described above, customer  20   a  won twenty-six $2 jackpot bets  34  for the jackpot race event and customer  20   n  won ninety-five $2 bets  34  for the jackpot race event. Customers  20  may place any number and combination of jackpot bets  34  up to the designated amount. Therefore, customer  20   a  may place twenty-six separate $2 bets  34 , one $52 bet  34 , or any number and combination in between. Similarly, customer  20   n  may place ninety-five separate $2 bets  34 , one $190 bet  34 , or any number and combination in between. Each of these bets  34  will comprise exacta bets according to the example outlined above. Therefore, to win a jackpot bet  34 , a customer  20  must correctly select the first and second participants to finish the jackpot race event. 
   After all of the customers  20  who qualify for the jackpot race event have made their jackpot bets  34 , the jackpot race event is run. If no one wins their jackpot bets  34  on the jackpot race event, then the jackpot race pool carries over to the next jackpot race event. If more than one customer  20  wins the jackpot bet  34  on the jackpot race event, then the jackpot race pool is divided among the winners equally. In this regard, the payout for the jackpot race event is not determined according a pari-mutuel basis. Thus, by agreeing to contribute a portion of a payout earned in a series of qualifying events to a jackpot race pool, a customer has the opportunity to win a number of jackpot bets  34  in a jackpot race event wherein the winnings may be substantial. 
     FIG. 3  illustrates an example betting form  110  to place jackpot qualifying bets  32 . Form  110  includes a section  112  corresponding to each leg of the qualification process. In particular, if the designated number of race events for a particular jackpot qualifying bet  32  is three, then a first section  112   a  corresponds to the first leg, a second section  112   b  corresponds to the second leg, and a third section  112   c  corresponds to the third leg. Within each betting section  112 , a customer  20  has the opportunity to select a race event, a bet amount in any suitable denomination, and the participants for the bet. For any given leg of a jackpot qualifying bet  32 , a customer  20  can place multiple bets, such as box bets and wheel bets. For example, an exacta box bet is made by selecting two participants as the first finisher and the same two participants as the second finisher. A box bet results in two bet components  100  for that particular race event. A wheel bet is made by selecting “A” as either the first finisher or the second finisher, combined with a particular participant for the other finisher. A wheel bet results in multiple bet components  100  for that particular race event based on the appropriate number of combinations associated with the wheel bet. 
   The particular betting form  110  illustrated in  FIG. 3  corresponds to the jackpot qualifying bet  32   n  placed by customer  20   n , as illustrated in  FIG. 2C . For example, section  112   a  indicates how customer  20   n  placed a $50 exacta bet on horses  3  and  10  in Race  3 . Section  112   b  indicates how customer  20   n  placed a $100 exacta box bet on horses  3  and  7  in Race  5  such that bet component  100   b  covered a $100 exacta bet on horses  3  and  7  to finish first and second in Race  5 , and bet component  100   c  covered a $100 exacta bet on horses  7  and  3  to finish first and second in Race  5 . Section  112   c  indicates how customer  20   n  placed a $40 exacta bet on horses  2  and  9  in Race  7 . 
   Betting form  110  illustrated in  FIG. 3  is merely an example and it should be understood that any other suitable betting form  110  may be used in system  10  for placing jackpot qualifying bets  32 . 
     FIG. 4  is a flowchart  150  illustrating an example method of receiving and managing bets related to jackpot race events in accordance with an embodiment of the present invention. The method begins at step  152  where platform  16  receives a jackpot qualifying bet  32  comprising a plurality of bet components  100 . Each bet component  100  is associated with a corresponding qualifying race event. At step  154 , platform  16  determines the bet components  100  that were winning bets. For example, if the type of bet associated with the jackpot qualifying bet  32  was an exacta bet, then platform  16  determines which of the exacta bets on the qualifying race events were winning bets. For each of the winning bets, platform  16  determines payouts at step  156 . A portion of each payout from a winning bet is allocated to the jackpot race pool of the appropriate jackpot race event at step  158 . 
   Execution proceeds to step  160  where platform  16  determines whether all of the bet components  100  of the jackpot qualifying bet  32  received at step  152  were winning bets. If not all of the bet components  100  were winning bets based upon the outcomes of the qualifying race events, then the jackpot qualifying bet  32  is deemed a losing bet and execution terminates at step  170 . If all of the bet components  100  were winning bets, as determined at step  160 , then the jackpot qualifying bet  32  is deemed a winning bet and execution proceeds to step  162  where platform  16  determines the number of jackpot bets  34  to award to the customer  20  holding the winning jackpot qualifying bet  32 . As described above, the number of jackpot bets  34  awarded to the customer  20  may be based upon the bet amounts associated with the bet components  100  of the jackpot qualifying bet  32 , the odds of the participants selected for the bet components  100 , or any other suitable factor associated with the bet  32  or the qualifying race events. 
   At step  164 , platform  16  receives the jackpot bets  34  from the customers  20  holding winning jackpot qualifying bets  32 . After the jackpot race event is run, platform  16  determines the results of the jackpot bets  34  to determine the winners and losers, at step  166 . At step  168 , platform  16  awards portions of the jackpot race pool to the customers  20  holding winning jackpot bets  34 . The method terminates at step  170 . 
   In a particular variation to the embodiments described above, one or more jackpot bets  34  may be awarded to a customer  20  that wins some but not all of the components  100  of a particular jackpot qualifying bet  32 . For example, a number of jackpot bets  34  may be awarded to a customer  20  that wins 3 out of 4 components  100  (or any other suitable number of winning components  100  out of attempted components  100 ) of a jackpot qualifying bet  32 . In this example, the higher the percentage of winning components  100 , the higher the number of jackpot bets  34  that may be awarded to a customer  20 . Therefore, a customer  20  that wins 3 out of 3 components  100  in a jackpot qualifying bet  32  may win more jackpot bets  34  than a customer  20  that wins 3 out of 4 components  100  in a jackpot qualifying bet  32 . In this regard, a customer  20  that loses the first of a series of components  100  in a jackpot qualifying bet  32  can still win one or more jackpot bets  34 . This creates a more sustained interest in the races throughout the day. 
   Although embodiments of the invention and their advantages are described in detail, a person skilled in the art could make various alterations, additions, and omissions without departing from the spirit and scope of the present invention as defined by the appended claims.