Patent ID: 7742972

Claim:
A computer-implemented method for conducting enhanced parimutuel wagering comprising: enabling at least two types of bets to be offered in a common betting pool, there being a plurality of possible winning outcomes for each bet type, wherein the enabling of the at least two types of bets includes: establishing, by a computer processor, fundamental outcomes in the betting pool, each one of the fundamental outcomes corresponding to one possible outcome of an underlying event, each one of the fundamental outcomes being mutually exclusive of each of the other fundamental outcomes; and establishing, by the computer processor, a fundamental bet on each fundamental outcome in the betting pool; offering the at least two types of enabled bets to bettors; and configuring, by the computer processor, for each placed bet of the pool, an equivalent combination of at least some of the established fundamental bets as a function of a selected outcome for the placed bet, the selected outcome for the placed bet corresponding to at least one fundamental outcome; wherein the underlying event is a race.