Source: https://patents.google.com/patent/US9852488B2/en
Timestamp: 2018-11-14 21:07:40
Document Index: 357577894

Matched Legal Cases: ['Application No. 60', 'Application No. 549121', 'Application No. 2011203580', 'Application No. 2006220536', 'Application No. 2011203086', 'Application No. 2', 'Application No. 2521159', 'Application No. 2616157', 'Application No. 06737833', 'Application No. 06800146', 'Application No. 05855562', 'Application No. 05855562', 'Application No. 05855562', 'Application No. 05712675', 'Application No. 03', 'Application No. 05712675', 'Application No. 05723963', 'Application No. 03816823', 'Application No. 05712661', 'Application No. 530448', 'Application No. 539209', 'Application No. 547179', 'Application No. 549116', 'Application No. 549121', 'Application No. 549121', 'Application No. 549700', 'Application No. 549700', 'Application No. 565411', 'Application No. 539209', 'Application No. 539209', 'Application No. 547179', 'Application No. 2007', 'Application No. 2007', 'Application No. 2008', 'Application No. 2008', 'Application No. 333267', 'Application No. 530448', 'Application No. 2005216980', 'Application No. 2005318970', 'Application No. 2006276086', 'Application No. 592189', 'Application No. 556076', 'Application No. 592115', 'Application No. 592189', 'Application No. 594811', 'Application No. 594872', 'Application No. 594872', 'Application No. 605849', 'Application No. 607500', 'Application No. 592115', 'Application No. 594811', 'Application No. 594872', 'Application No. 12']

US9852488B2 - Betting on a subset of participants in an event - Google Patents
Betting on a subset of participants in an event Download PDF
US9852488B2
US9852488B2 US11928839 US92883907A US9852488B2 US 9852488 B2 US9852488 B2 US 9852488B2 US 11928839 US11928839 US 11928839 US 92883907 A US92883907 A US 92883907A US 9852488 B2 US9852488 B2 US 9852488B2
US11928839
US20080058095A1 (en )
Adam Burgis
A method of managing bets is provided. The method includes receiving win bets and group bets. Each win bet includes a bet that a participant selected from a set of participants in an event will win the event. Each group bet includes a bet that one of a subset of the set of participants will win the event. Results of the event identifying a winning participant from the set of participants are received. An amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant is determined. An amount of a group bet payout for at least one of the group bets is also determined. In this manner, a bettor may bet on all participants in an event other than a particular participant, such as the favorite participant, and thus effectively bet against the particular participant.
This application is a continuation of U.S. application Ser. No. 10/453,769 filed Jun. 3, 2003, entitled “System and Method for Betting on a Subset of Participants in an Event,” which claims priority to U.S. Provisional Application No. 60/460,595 filed Apr. 3, 2003, entitled “System and Method for Betting on a Subset of Participants in an Event.”
This invention relates in general to betting on events and, more particularly, to a system and method for betting on a subset of participants in an event.
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 a single horse or on 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 horses in order) or a trifecta bet (covering the top three 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.
According to one embodiment, a method of managing bets is provided. The method includes receiving one or more win bets and one or more group bets. Each win bet includes a bet that a participant selected from a set of participants in an event will win the event. Each group bet includes a bet that one of a subset of the set of participants will win the event, wherein the subset includes a plurality of the set of participants. Results of the event identifying a winning participant from the set of participants are received. An amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant is determined. An amount of a group bet payout for at least one of the group bets is also determined.
Another advantage of the invention is that such group bets may be provided in a pari-mutuel betting system in which all bets regarding a particular event are pooled.
FIG. 6 is a flowchart illustrating an example method of determining various odds, payouts and/or profits for win bets in accordance with an embodiment of the present invention; and
FIG. 7 is a flowchart illustrating an example method of determining various odds, payouts and/or profits for group bets in accordance with an embodiment of the present invention.
System 10 permits clients 20 to place at least both win bets (or straight wagers) 22, as well as group bets 24 on a betting event having a set of event participants, such as a horse race, dog race, auto race, or golf tournament, for example. A win bet (or straight wager) 22 is a bet that a particular participant will win the event. For example, in a horse race, an example of a win bet 22 is a bet that Horse #3 will win the race. A group bet 24, on the other hand, is a bet that one of a group, or subset, of the set of participants will win the event. In some situations, the subset or group may include all of the participants in an event except for a single participant. In such situations, the group may include all of the participants in an event except for the “favorite,” or in other words, the participant having (or predicted to have) the best chance of winning the event. For example, in a 14-horse race in which Horse #3 is the favorite, an example group bet 24 is a bet that any of the horses except for Horse #3 will win the race.
In some embodiments, system 10 is a pari-mutuel betting system in which all bets 12 (or at least a relevant group of bets 12) regarding a particular event 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. In other embodiments, system 10 may be another type of betting system, such as a betting system in which clients 20 take positions against a bookmaker, for example.
The AC group-participant win bet pool equation 106 may be used to determine the total AC stake of win bets 22 on each participant in the group, or subset, of participants covered by the group bet 24. The participants in the group of participants covered by the group bet 24 may be referred to as the “grouped participants.” For example, in a 5 horse race in which Horse #4 is the favorite and a group bet covers Horses #1, 2, 3 and 5, the group-participant win bet pool equation 106 may be used to determine the total AC stake of win bets 22 placed on Horses #1, 2, 3 and 5.
FIGS. 4A through 4F may be used to illustrate the calculation of payouts and profits for win bets 22 and group bets 24 for various results of an example horse race using the example equations shown in FIGS. 3A and 3B in accordance with an embodiment of the present invention. In the example shown in FIGS. 4A through 4F, the horse race is a five-horse race, Horse #4 is the favorite, and a group bet 24 is provided which covers Horses #1, 2, 3 and 5 (all horses except Horse #4). It should be understood that the payouts and profits calculated as described above may comprises 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.”
FIG. 5 is a flowchart illustrating an example method of receiving, managing, and paying win bets 22 and group bets 24 in accordance with an embodiment of the present invention. At step 300, win bets 22 are received from one or more clients 20 via one or more betting system interfaces 14, such as described above with reference to FIG. 1. For example, in the example horse race discussed above with reference to FIGS. 4A through 4F, assume various win bets 22 are received which create the win bet stakes for each horse shown in column 254 of FIG. 4A. At step 302, group bets 24 are received from one or more clients 20 via one or more betting system interfaces 14, such as described above with reference to FIG. 1. For example, in the example discussed above, assume various wagers are received on the group bet 24 covering Horses #1, #2, #3 and #5 which creates a before-commission group bet pool 260 of $2,000 as shown in FIG. 4A. In some situations, steps 300 and 302 may be occur simultaneously, or may at least partially overlap.
Each win bet 22 or group bet 24 received at steps 200 and/or 302 may be stored at step 304, such as within memory 40, for example. A take-out (commission) rate may be applied to each received win bet 22 and group bet 24 at step 306, such as described above with reference to FIG. 4A. For example, regarding win bets 22, a take-out rate of 15% may be applied to received win bets 22 shown in column 254 of FIG. 4A to generate the after-commission win bet stakes for each horse shown in column 270 of FIG. 4A. Similarly, a take-out rate of 15% may be applied to each group bet 24, or to the group bet pool 260, to generate the after-commission group bet pool 276 of $1,700, as shown in FIG. 4A.
If the betting pool is still open, the method may return to steps 300 through 312 to receive and store additional win bets 22 and/or group bets 24, and to recalculate the current odds, payouts and/or profits. In this manner, betting system platform 16 may update the current odds, payouts and/or profits associated with the various bets 12 associated with the event. In some embodiments, betting system platform 16 may perform such updates continuously and/or in real time, substantially in real time, or at preset intervals (such as every 30 seconds, for example).
1. A computer implemented method of managing bets, the method comprising:
receiving, at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more group bets, each group bet designating a corresponding subset of the set of participants in the event, the subset including a plurality of participants but less than all participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, the pay amount being substantially the same whichever participant of the designated subset is the winner and independent of finishes other than the winner;
receiving, at the computer of the betting computer system platform, via a payment acceptor, payment associated with one or more bets;
receiving, at the computer of the betting computer system platform, via the computer network, from the betting computer system interfaces, data representing results of the event identifying a winning participant from the set of participants; and
determining, by the computer of the betting computer system platform, data representing an amount of a group bet payout for at least one of the group bets based on the group bets designated subsets of which the winning participant is a member.
wherein the at least one group bet is received in a pari-mutuel betting system,
wherein the act of receiving one or more group bets comprises receiving a first group bet made by a bettor, and
wherein the act of receiving the first group bet comprises receiving from the bettor a single amount representing an amount at risk in the first group bet.
3. The method of claim 1, wherein two or more of the group bets designate the same subset of participants.
receiving one or more win bets, each win bet comprising a bet that a participant selected from the set of participants will win the event; and
5. The method of claim 4, wherein the amount of the group bet payout is determined based at least in part on the total amount of the win bets that comprise a bet on the winning participant.
determining the odds of winning for a one of the participants that is not included in a one of the designated subsets of participants based at least in part on the one or more received win bets; and
wherein the amount of the group bet payout for the group bet covering the one designated subset is determined based at least in part on the odds of winning for the one participant.
7. The method of claim 4, wherein determining the amount of the group bet payout comprises:
selecting a participant from the subset of participants; and
determining the total amount of the win bets that comprise a bet on any participant in the set of participants except for the selected participant.
receiving a notification that one or more of the participants will not compete in the event at the computer system; and in response, canceling at least a portion of the group bets that designated the non-competing participant in the respective designated subsets.
reallocating the amount of at least one of the cancelled group bets among the remaining participants in the designated subset of participants.
10. The method of claim 9, wherein determining the amount of the group bet payout comprises allocating to each of the competing participants in the designated subset a portion of the amount of the group bet.
11. The method of claim 10, wherein determining the amount of the group bet payout further comprises:
determining as a first amount the portion of the group bet allocated to the winning participant;
determining as a second amount the total portion of the group bet allocated among the participants in the set of participants except for the winning participant;
determining as a third amount the total amount of the win bets that comprise a bet on any of the participants in the set of participants except for the winning participant;
determining as a fourth amount the total amount of the win bets that comprise a bet on the winning participant; and
determining the amount of the group bet payout based at least on the first amount, the second amount, the third amount, and the fourth amount.
12. The method of claim 11, wherein determining the amount of the group bet payout comprises:
determining a fifth amount by multiplying the sum of the second amount and the third amount by the first amount;
determining a sixth amount by dividing the fifth amount by the sum of the first amount and fourth amount; and
adding the sixth amount and the first amount.
determining, for each participant in the set of participants, the total amount of the win bets that comprise a bet on that participant; and
wherein the amount of the group bet is allocated to each participant in the subset of participants in inverse proportion to the determined total amounts of the win bets associated with that participant.
14. The method of claim 10, wherein determining an amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant comprises:
determining as a first amount the total amount of the win bets that comprise a bet on the winning participant;
determining as a fourth amount the total portion of the group bet allocated to the winning participant; and
determining the amount of the payout for at least a portion of the win bets that comprise a bet on the winning participant based at least on the first amount, the second amount, the third amount, and the fourth amount.
15. The method of claim 14, wherein determining the amount of the payout for at least a portion of the win bets that comprise a bet on the winning participant comprises:
a first subset designated in a first of the group bets and a second subset of participants designated in a second of the group bets intersect, but each of the first and second subsets includes participants not in the other of the second and first subsets.
17. The method of claim 1, wherein at least one of the designated subsets designates all but one of the participants.
18. The method of claim 1, wherein at least one of the group bets designates four or more participants.
19. A computer implemented method of managing bets, the method comprising:
receiving, at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more group bets, each group bet designating a corresponding subset of the set of participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, at least one of the group bets designating four or more participants;
receiving, at the computer of the betting computer system platform, via the computer network, from betting computer system interfaces, data representing results of the event identifying a winning participant from the set of participants;
wherein at least one group bet is received in a pari-mutuel betting system,
21. The method of claim 19, further comprising applying a commission rate to at least one of the group bets.
22. The method of claim 19, wherein at least one group bet designates a subset including all but one of the participants in the event.
the amount of the payouts determined for the group bets is substantially the same regardless of which particular participant in the subset designated for corresponding group bets is the winning participant.
receiving one or more win bets, each win bet comprising a bet that a participant selected from a set of participants in an event will win the event; and
determining an amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant.
wherein, for at least one of the group bets, a participant in the group bet's designated set of participants is not included in the subset of participants:
the method further comprising the step of determining the odds payout for the group bet based at least in part on the one or more received win bets, and at least in part on the win odds for the excluded particular participant.
26. The method of claim 24, wherein determining the amount of the group bet payout comprises allocating to each participant of the corresponding designated subset of participants a portion of the amount of the group bet.
after receiving a notification that one or more of the participants in the first subset of participants will not compete in the event, determining the amount of the group bet payout based on reallocating the amount of the group bet among the remaining participants in the subset of participants.
wherein the amount of the group bet is allocated to each participant in the group bet's corresponding designated subset in inverse proportion to the determined total amounts of win bets on that participant.
29. A non-transitory computer-readable tangible memory, having embodied thereon programs to cause a computer to:
receive, at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more group bets, each group bet designating a corresponding subset of the set of participants in the event, the subset including a plurality of participants but less than all participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, the pay amount being the substantially the same whichever participant of the designated subset is the winner and independent of finishes other than the winner;
receive, at the computer of the betting computer system platform, via the computer network, from betting computer system interfaces, data representing results of the event identifying a winning participant from the set of participants;
determine, by the computer of the betting computer system platform, data representing an amount of a group bet payout for at least one of the group bets based on the group bets designated subsets of which the winning participant is a member.
30. The non-transitory computer-readable tangible memory of claim 29, the programs being designed to further cause the computer to:
receive one or more win bets, each win bet comprising a bet that a participant selected from the set of participants will win the event; and
31. The non-transitory computer-readable tangible memory of claim 30,
wherein the amount of the group bet payout is determined based at least in part on the total amount of the win bets that comprise a bet on the winning participant,
32. The non-transitory computer-readable tangible memory of claim 30, the programs being designed to further cause the computer to:
determine a payout amount for at least one of the group bets based at least in part on win payout odds for a participant excluded from the subset corresponding to the one group bet.
33. The non-transitory computer-readable tangible memory of claim 29, the programs being designed to further cause the computer to:
allocate the amounts of the group bets to the corresponding designated participants, and determining the payout on the group bet based on the payout calculation used for win bets on the participants.
34. The non-transitory computer-readable tangible memory of claim 29, wherein at least one of the designated subsets designates all but one of the participants.
35. The non-transitory computer-readable tangible memory of claim 29, wherein at least one of the group bets designates four or more participants.
36. A non-transitory computer-readable tangible memory, having embodied thereon programs to cause a computer to:
receive, at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more group bets, each group bet designating a corresponding subset of the set of participants in the event, and being a bet that pays if any one of the corresponding designated subset wins the event, at least one of the group bets designating four or more participants;
receives at the computer of the betting computer system platform, via the computer network, from betting computer system interfaces, data representing results of the event identifying a winning participant from the set of participants;
determines by the computer of the betting computer system platform, data representing an amount of a group bet payout for at least one of the group bets based on the group bets designated subsets of which the winning participant is a member.
37. The non-transitory computer-readable tangible memory of claim 36, the programs being designed to further cause the computer to:
38. The non-transitory computer-readable tangible memory of claim 37,
39. The non-transitory computer-readable tangible memory of claim 37, the programs being designed to further cause the computer to:
determine a payout amount for at least one of the group bets based at least in part on win payout odds for a participant excluded from the subset corresponding to the group bet.
40. The non-transitory computer-readable tangible memory of claim 36, the programs being designed to further cause the computer to:
allocate the amounts of the group bets to the corresponding participants, and determining the payout on the group bet based at least in part on the payout calculation used for win bets on the corresponding designated participants.
41. The non-transitory computer-readable tangible memory of claim 40, the programs being designed to further cause the computer to:
allocate the amounts of the group bets to the corresponding participants substantially inversely proportionally, so that the pay amount for the group bets will be substantially the same whichever participant of the corresponding designated subset is the winner.
42. The non-transitory computer-readable tangible memory of claim 36, wherein at least one of the designated subsets designates all but one of the participants.
43. The non-transitory computer-readable tangible memory of claim 36:
wherein programs calculate to provide payoff of the group bet that is substantially equal for a win by any participant of the subset; and
the programs being designed to further cause the computer to, on receiving an indication of the winning participant at the betting system, determine payout amounts for the group bets based on whether the winning participant is a member of the bets' respective specified subsets, such that the payouts for each winning group bet is substantially uniform regardless of which particular participant in the winning bet's respective subset is the winning participant, with no substantial effect on payoff amount based on the second-place finisher.
receiving, at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more win bets, each win bet comprising a bet that a specified participant selected from a set of participants in an event will win the event;
receiving, at the computer of the betting computer system platform, via the computer network, from betting computer system interfaces, data representing one or more group bets, wherein each group bet has an associated bet amount, and specifies a respective subset having a plurality of the participants selected from among set of participants, being a bet that any participant of the subset will win the event;
allocating, the computer of the betting computer system platform, data representing a portion of the bet amount for group bets among the participants of the respective subsets specified by respective group bets, wherein odds for participants in the subsets are not required
to be the same, and the portion allocated to each participant is inversely proportional to odds associated with that participant such that payout for a group bet is substantially the same regardless of which participant among a subset of the participants is the winning participant; and
on receiving an indication of the winning participant at the computer of the betting computer system platform, determining by the betting computer system platform, data representing payout amounts for the group bets based on an odds determined for win bets on the participant that wins the event, and the respective amounts of the group bets allocated to the winning participant.
wherein the win bets and the group bet are received in a pari-mutuel betting system,
46. The method of claim 44, further comprising applying a commission rate to at least one of the win bets and the group bets.
47. The method of claim 44, wherein the subset of participants comprises a majority of the set of participants.
48. The method of claim 44, wherein the payoff of each group bet is substantially equal for a win by any participant of the bet's respective subset with no substantial effect on the payoff based on the second-place finisher.
49. The method of claim 44, wherein, at least some of the group bets specify subsets with four or more participants.
50. The method of claim 44, wherein the amount of the group bet payout is determined based at least in part on the total amount of the win bets that comprise a bet on the winning participant.
51. The method of claim 44, wherein a particular participant in the set of participants is not included in the subset of participants, and the method further comprises:
52. The method of claim 44, wherein the odds associated with a particular participant are based at least in part on the total amount of the win bets that comprise a bet on any participant in the set of participants except for the particular participant.
receiving a notification that one or more of the participants will not compete in the event; and
canceling at least one of the one or more group bets.
receiving a notification that one or more of the participants in the subset of participants will not compete in the event; and
reallocating the bet amount for the particular group bet among the remaining participants in the subset of participants.
55. The method of claim 44, wherein determining the amount of the group bet payout further comprises:
56. The method of claim 44, wherein determining an amount of a win bet payout for at least one of the win bets that comprise a bet on the winning participant comprises:
determining the amount of the payout for at least one of the win bets that comprise a bet on the winning participant based at least on the first amount, the second amount, the third amount, and the fourth amount.
57. The method of claim 56, wherein determining the amount of the payout for at least one of the win bets that comprise a bet on the winning participant comprises:
58. A non-transitory tangible computer-readable memory having embodied therein one or more programs designed to cause one or more computers of a betting computer system platform to:
receive, at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more win bets, each win bet comprising a bet that a specified participant selected from a set of participants in an event will win the event; and
receive, at the computer of the betting computer system platform, via the computer network, from betting computer system interfaces, data representing one or more group bets, wherein each group bet has an associated bet amount, and specifies a respective subset having a plurality of the participants selected from among set of participants, being a bet that any participant of the subset will win the event; and
allocate, by the computer of the betting computer system platform, data representing a portion of the bet amount for group bets among the participants of the respective subsets specified by respective group bets, wherein odds for participants in the subsets are not required to be the same, and the portion allocated to each participant is inversely proportional to odds associated with that participant such that payout for a group bet is substantially the same regardless of which participant among a subset of the participants is the winning participant; and
on receiving an indication of the winning participant at the betting system, determine, by the computer of the betting computer system platform, data representing payout amounts for the group bets based on an odds determined for win bets on the participant that wins the event, and the respective amounts of the group bets allocated to the winning participant.
59. The memory of claim 58,
wherein the payoff of each group bet is substantially equal for a win by any participant of the bet's respective subset with no substantial effect on the payoff based on the second-place finisher,
60. The memory of claim 58, wherein at least some of the group bets specify subsets with four or more participants.
61. The memory of claim 58, wherein the subset of participants comprises a majority of the set of participants.
62. The memory of claim 58, wherein the processor is operable to determine the amount of the group bet payout based at least in part on the total amount of the win bets that comprise a bet on the winning participant.
63. The memory of claim 58, wherein the odds associated with a particular participant are based at least in part on
the total amount of the win bets that comprise a bet on any participant in the set of participants except for the particular participant.
64. The memory of claim 58, wherein the processor is further operable to:
receive a notification that one or more of the participants in the subset of participants will not compete in the event; and
reallocate the bet amount for the particular group bet among the remaining participants in the subset of participants.
65. The memory of claim 58, further comprising determining, for each participant in the set of participants, the total amount of the win bets that comprise a bet on that participant; and
wherein the bet amount for the particular group bet is allocated to each participant in the subset of participants in proportion to the determined total amounts of the win bets associated with that participant.
receiving at a computer of a betting computer system platform of a computerized betting system, via a computer network, from betting computer system interfaces, data representing one or more group bets, wherein each group bet specifies a respective subset of a set of participants in an event, being a bet that any participant of the specified subset will win the event, the payoff of the group bet being substantially equal for a win by any participant of the subset with no substantial effect on the payoff based on the second-place finisher; and
on receiving an indication of the winning participant at the computer of the betting computer system platform, determining, by the computer of the betting computer system platform, data representing payout amounts for the group bets based on whether the winning participant is a member of the bets' respective specified subsets, such that the payouts for each winning group bet is substantially uniform regardless of which particular participant in the winning bet's respective subset is the winning participant, with no substantial effect on payoff amount based on the second-place finisher.
wherein at least some of the group bets specify subsets with four or more participants,
allocating a portion of the bet amount for group bets among the participants of the respective subsets specified by respective group bets, the portion allocated to each participant is inversely proportional to odds associated with that participant such that payout for a group bet is the substantially uniform regardless of which participant among a subset of the participants is the winning participant.
69. The method of claim 66, wherein the subset of participants comprises a majority of the set of participants.
70. The method of claim 66, wherein the amount of the group bet payout is determined based at least in part on the total amount of the win bets that comprise a bet on the winning participant.
71. The method of claim 66, wherein the odds associated with a particular participant are based at least in part on the total amount of the win bets that comprise a bet on any participant in the set of participants except for the particular participant.
72. The method of claim 66, further comprising:
74. The method of claim 66, further comprising determining, for each participant in the set of participants, the total amount of the win bets that comprise a bet on that participant; and
75. A tangible non-transitory computer-readable memory having embodied therein one or more programs designed to cause one or more computers of a betting computer system platform to:
receive at the computer of a computerized the betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more group bets, wherein each group bet specifies a respective subset of a set of participants in an event, being a bet that any participant of the specified subset will win the event, the payoff of the group bet being substantially equal for a win by any participant of the subset with no substantial effect on the payoff based on the second-place finisher; and
on receiving an indication of the winning participant at the computer of the betting computer system platform, determine, by computer of the betting computer system platform, data representing payout amounts for the group bets based on whether the winning participant is a member of the bets' respective specified subsets, such that the payouts for each winning group bet is substantially uniform regardless of which particular participant in the winning bet's respective subset is the winning participant, with no substantial effect on payoff amount based on the second-place finisher.
76. The memory of claim 75,
77. The memory of claim 75, the program(s) being further programmed to:
allocate a portion of the bet amount for group bets among the participants of the respective subsets specified by respective group bets, the portion allocated to each participant is inversely proportional to odds associated with that participant such that payout for a group bet is the substantially uniform regardless of which participant among a subset of the participants is the winning participant.
receiving at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more group bets, wherein each group bet specifies a respective subset of a set of participants in an event, being a bet that any participant of the specified subset will win the event, the payoff of the group bet being substantially equal for a win by any participant of the subset, at least some of the group bets specifying subsets with four or more participants; and
on receiving an indication of the winning participant at the computer of the betting computer system platform, determining by the computer of the betting computer system platform, data representing payout amounts for the group bets based on whether the winning participant is a member of the bets' respective specified subsets, such that the payouts for each winning group bet is substantially uniform regardless of which particular participant in the winning bet's respective subset is the winning participant.
79. The method of claim 78, further comprising the steps of:
80. The method of claim 78,
81. A non-transitory tangible computer-readable memory having embodied therein one or more programs designed to cause one or more computers of a betting computer system platform to:
receive at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more group bets, wherein each group bet specifies a respective subset of a set of participants in an event, being a bet that any participant of the specified subset will win the event, the payoff of the group bet being substantially equal for a win by any participant of the subset, at least some of the group bets specifying subsets with four or more participants; and
on receiving an indication of the winning participant at the computer of the betting computer system platform, determine, by the computer of the betting computer system platform, data representing payout amounts for the group bets based on whether the winning participant is a member of the bets' respective specified subsets, such that the payouts for each winning group bet is substantially uniform regardless of which particular participant in the winning bet's respective subset is the winning participant.
82. The memory of claim 81, the program(s) being further programmed to:
83. The memory of claim 81,
receiving at a computer of a betting computer system platform, via a computer network, from betting computer system interfaces, data representing one or more win bets, each win bet comprising a bet that a specified participant selected from a set of participants in an event will win the event;
receiving at the computer of the betting computer system platform, via the computer network, from betting computer system interfaces, data representing one or more group bets, wherein each group bet has an associated bet amount, and specifies a respective subset having a plurality of the participants selected from among set of participants, being a bet that any participant of the subset will win the event, the payoff of the group bet being substantially equal for a win by any participant of the subset with no substantial effect on the payoff based on the second-place finisher, at least some of the group bets specifying subsets with four or more participants;
allocating, by the computer of the betting computer system platform, data representing a portion of the bet amount for group bets among the participants of the respective subsets specified by respective group bets, wherein odds for participants in the subsets are not required to be the same, and the portion allocated to each participant is inversely proportional to odds associated with that participant such that payout for a group bet is substantially the same regardless of which participant among a subset of the participants is the winning participant; and
on receiving an indication of the winning participant at the computer of the betting computer system platform, determining, the computer of the betting computer system platform, data representing payout amounts for the group bets based whether the winning participant is a member of the bets' respective specified subsets and on an odds determined for win bets on the participant that wins the event, and the respective amounts of the group bets allocated to the winning participant, such that the payouts for each winning group bet is substantially uniform regardless of which particular participant in the winning bet's respective subset is the winning participant, with no substantial effect on payoff amount based on the second-place finisher.
85. The non-transitory computer-readable tangible memory of claim 36:
wherein the payoff of the group bet being substantially equal for a win by any participant of the subset with no substantial effect on the payoff based on the second-place finisher; and
on receiving an indication of the winning participant at the betting system, determine payout amounts for the group bets based on whether the winning participant is a member of the bets' respective specified subsets, with no substantial effect on payoff amount based on the second-place finisher,
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US9852488B2 true US9852488B2 (en) 2017-12-26
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Free format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNORS:AMAITIS, LEE M.;ASHER, JOSEPH M.;BURGIS, ADAM (NMI);AND OTHERS;REEL/FRAME:020038/0694;SIGNING DATES FROM 20030520 TO 20030529
Free format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNORS:AMAITIS, LEE M.;ASHER, JOSEPH M.;BURGIS, ADAM (NMI);AND OTHERS;SIGNING DATES FROM 20030520 TO 20030529;REEL/FRAME:020038/0694