Patent ID: 8777709

Claim:
A method, comprising the steps of: receiving at a computerized betting system a bet on a race placed by a bettor, the race to be run on a track without physical obstacles, the bet having a wagered amount and one or more bet components, a bet component specifying a participant in the race, an intermediate point of the track, and a race performance characteristic, a bet component being a bet that the respective participant will reach the respective intermediate point at the respective race performance characteristic, the bet to pay based on whether the specified participants reach the specified intermediate points at the specified race performance characteristics; receiving at the computerized betting system from one or more measuring devices at the track that are designed to measure the time or position of the respective participants at the respective intermediate points, intermediate race results measured by the device of actual race performance characteristics of race participants at that intermediate point; and computing payout results for the bets based at least in part on the bettors' specified race performance characteristics of race participants, and the received intermediate race performance characteristics of the participants.