Patent ID: 8500530

Claim:
A wagering system comprising: a processor through which information regarding a plurality of competing contestants including at least first and second competing contestants in a horse or dog race is made available to entities betting on the outcome of the race to seek a payout from a first wagering pool, the information for the first of the competing contestants prepared based upon selected handicapping criteria to give the first of the competing contestants a time adjusted race identity and the information for the second of the competing contestants prepared based upon the selected handicapping criteria to give the second of the competing contestants one of: a) a time adjusted race identity; or b) an unadjusted race identity so as to make the first and the second of the competing contestants equally likely to win the race for wagering purposes; and an input for wagers to be placed on the race, the outcome of the race for wagering purposes determined by a time adjusted order of finishing for the first and second of the competing contestants using the time adjusted race identity for the first of the competing contestants and the one of the: a) time adjusted race identity; or b) the unadjusted race identity for the second of the competing contestants.