Method of effecting multiple wagers on a sports or other event

• US 20020153656A1
• Filed: 02/13/2001
• Published: 10/24/2002
• Est. Priority Date: 02/13/2001
• Status: Active Grant

• Current Assignee: Casino Advisory Services, LLC
• Original Assignee: Casino Advisory Services, LLC
• Inventors: Savage, Allen Leroy Jr., Wortman, William C., Maksymec, Peter Alex
• Granted Patent: US 6,527,270 B2
• Time in Patent Office: Days
• US Class Current: 273/138.1
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A wagering system is provided in which the payment on either side of a “neutral” bet, or center point, increases as the amount of win or loss diverges from the center point. The system is particularly applicable to bets placed in legalized bookmaking establishments, which set a line for sports betting and permit bettors to wager on either side of the line. In a preferred embodiment, the amount of win or loss increases arithmetically with the departure of the final result from the center point. The system also includes the potential for placing caps (maximums) on the win/loss multiples, and providing cushions (i.e., deviations proximate to the center point) before which the increased wins and/or losses commence.

Claims

1. A method of conducting a wagering operation wherein an establishment accepts wagers on an outcome of an event, the event having a continuum of potential outcomes which are definable by units,

the establishment setting a center point on the continuum, representing a likely outcome of the event, said center point separating the continuum into a first set of results and a second set of results,

the establishment permitting a player to place a bet that the actual outcome of the event will be in the first set of results or the second set of results, the establishment keeping losing wagers and paying out winning wagers according to a payout schedule,

the payout schedule including an award to a winning player of a multiple of the player'"'"'s bet if the difference between the actual outcome of the event and the center point exceeds a first predetermined number of units, and also including an obligation of a losing player to pay an additional amount to the establishment if the difference between the actual outcome and the center point exceeds a second predetermined number of units.

2. The method of claim 1 wherein the event is a sports game, and the units are the difference in point scores of opposing game participants.

3. The method of claim 2 wherein the sports game is football, baseball, or basketball.

4. The method of claim 1 wherein the event is a naturally occurring event.

5. The method of claim 1 wherein the event is a casino game.

6. The method of claim 1 wherein the event is a horse race.

7. The method of claim 1 wherein the payout schedule also includes an award to a player of a second multiple of the player'"'"'s wager if the difference between the actual outcome of the event and the center point exceeds a third predetermined number of units.

8. The method of claim 1 wherein the payout schedule also includes an obligation of a losing player to pay a second additional amount to the establishment if the difference between the actual outcome and the center point exceeds a fourth predetermined number of units.

9. The method of claim 1 wherein the payout schedule includes an award to a player of a second multiple of the player'"'"'s wager if the difference between the actual outcome of the event and the center point exceeds a third predetermined number of units, and also includes an obligation of a losing player to pay a second additional amount to the establishment if the difference between the actual outcome and the center point exceeds a fourth predetermined number of units.

10. The method of claim 1 wherein the payout schedule includes increasingly large awards to a winning player as the differences between the actual outcome and the center point increase, and an obligation of a losing player to pay increasingly large amounts to the establishment as the difference between the actual outcome and the center point increases.

11. The method of claim 10 wherein the payout schedule includes at least three increasingly large awards.

12. The method of claim 10 wherein the payout schedule includes at least three increasingly large amounts which a losing player is obligated to pay to the establishment.

13. The method of claim 10 in which the payout schedule includes increasingly large awards of 2×

, 3×

, and 4×

the wager, and increasingly large amounts of 2×

, 3×

, and 4×

the wager.

14. The method of claim 10 in which the payout schedule includes increasingly large awards of 2×

, 3×

, 4×

, 5×

, 6×

, and 7×

the wager, and increasingly large amounts of 2×

, 3×

, 4×

, 5×

, 6×

, and 7×

the wager.

15. The method of claim 1 wherein the payout schedule includes a plurality of multiples of the wager, and a maximum multiple of the wager which determines the maximum a player can win regardless of the actual outcome.

16. The method of claim 1 wherein the additional amount increases by multiples of the wager as the difference between the actual outcome and the center point increases, and wherein the payout schedule includes a maximum amount that the player can lose on the wager.

17. The method of claim 15 wherein the additional amount increases by multiples of the wager as the difference between the actual outcome and the center point increases, and wherein the payout schedule includes a maximum amount that the player can lose on the wager.

18. The method of claim 1 wherein payout schedule includes awards to a winning player which increase arithmetically as the number of units between the actual outcome and the center point increases.

19. The method of claim 1 wherein the losing player is obligated to pay additional amounts which increase arithmetically as the number of units between the actual outcome and the center point increases.

20. The method of claim 1 wherein the payout schedule includes awards to a winning player which increase arithmetically as the number of units between the actual outcome and the center point increases, and wherein the losing player is obligated to pay additional amounts which increase arithmetically as the is obligated to pay additional amounts which increase arithmetically as the number of units between the actual outcome and the center point increases.

21. The method of claim 18 wherein the payout schedule also includes a preset minimum number of units between the actual outcome and the center point before increased awards commence.

22. The method of claim 19 wherein the payout schedule obligates the player to pay additional amounts only after the difference between the actual outcome and the center point exceeds a predetermined number of units.

23. The method of claim 22 in which the predetermined number of units is three.

24. The method of claim 22 in which the predetermined number of units is four.

25. The method of claim 22 in which the predetermined number of units is five.

26. The method of claim 1 wherein the first predetermined number of units is equal to the second predetermined number of units.

27. The method of claim 9 wherein the third predetermined number of units is equal to the fourth predetermined number of units.

29. The method of claim 28 wherein the sports participants are football, baseball, or basketball teams.

30. The method of claim 29 wherein the sports participants are football teams.

31. The method of claim 28 wherein the payout schedule also includes payout of a second multiple as the deviation increases.

32. The method of claim 28 wherein the payout schedule also includes a second additional amount as the deviation increases.

33. The method of claim 28 wherein the payout schedule includes at least three increasingly large payouts.

34. The method of claim 28 wherein the payout schedule includes at least three additional amounts which the losing player is required to pay to the establishment.

35. The method of claim 28 wherein the payout schedule includes at least three increasingly large payouts, and at least three additional amounts which the losing player is required to pay to the establishment.

36. The method of claim 28 wherein the payout schedule includes payouts of 2×

, 3×

, and 4×

the player'"'"'s wager.

37. The method of claim 28 wherein the payout schedule includes additional amounts of 2×

, 3× and

4×

the player'"'"'s wager.

38. The method of claim 28 wherein the payout schedule includes payouts of 2×

, 3×

, and 4×

the players wager, and also includes additional amounts of 2×

, 3× and

4×

the player'"'"'s wager.

39. The method of claim 28 wherein the payout schedule includes payouts of 2×

, 3×

, 4×

, 5×

, 6× and

7×

the player'"'"'s wager..

40. The method of claim 28 wherein the payout schedule includes additional amounts of 2×

, 3×

, 4, 5, 6× and

7×

the player'"'"'s wager.

41. The method of claim 28 wherein the payout schedule includes payouts of 2×

, 3×

, 4×

, 5×

, 6× and

7×

the player'"'"'s wager, and also includes additional amounts of 2×

, 3×

, 4×

, 5×

, 6× and

7×

the player'"'"'s wager.

42. The method of claim 28 wherein the payout schedule includes a maximum payout.

43. The method of claim 28 wherein the payout schedule includes a maximum additional amount.

44. The method of claim 28 wherein the payout schedule includes a maximum payout, and a maximum additional amount.

45. The method of claim 28 wherein the payout schedule includes payouts which increase arithmetically with the deviation.

46. The method of claim 28 wherein the additional amount increases arithmetically with the deviation.

47. The method of claim 45 wherein the payout schedule includes a maximum payout.

48. The method of claim 46 wherein the payout schedule includes a maximum additional amount.

49. The method of claim 28 wherein the payout schedule includes a predetermined minimum deviation prior to the payout increasing above the amount of the wager.

50. The method of claim 28 wherein the payout schedule includes a second predetermined minimum deviation prior to obligating a losing player to pay an additional amount.

51. The method of claim 28 wherein the payout schedule includes a predetermined minimum deviation prior to the payout increasing above the amount of the wager, and a second predetermined minimum deviation prior to obligating a losing player to pay an additional amount.

52. The method of claim 51 wherein the predetermined minimum deviation is equal to the second predetermined minimum deviation.

28. A method of conducting sports wagering in which an establishment accepts wagers on two opposing sports participants, wherein the participant scoring the most points being the winning participant, and the difference in the final score constituting a game result, comprising the steps of:

the establishment setting a betting line wherein a bet on a favored participant wins only if the favored participant prevails by more than a preset number of points, and a bet on an underdog participant wins if the underdog wins, or does not lose by more than the preset number of points, said preset number of points defining the betting line;

the establishment permitting a player to place a bet with the establishment on the favored participant or the underdog participant, the establishment keeping losing bets and paying out the player'"'"'s winning bets according to a payout schedule;

the payout schedule including paying a winning player increasingly large payouts as the deviation between the game result and the betting line increases, and obligating a losing player to pay an additional amount to the establishment, said additional amount increasing as the deviation between the game result and the betting line increases.

53. A system for accepting a wager on an event, comprising:

a main computer comprising stored bet data, wherein the bet data includes an event identifier and a point spread value; and

instructions for accepting a bet amount on the event and calculating a potential amount lost by determining a difference between the point spread value and the score at a predetermined time in said event, and multiplying the bet amount by said difference.

54. The system of claim 53, wherein said bet data includes a cap value, and said potential amount lost does not exceed said cap value.

55. The system of claim 53, wherein said bet data includes a cap multiple value, and said potential amount lost does not exceed said amount bet times said cap multiple value.

56. The system of claim 53, wherein said bet data includes a cushion value and wherein said difference is reduced by said cushion value prior to multiplying the bet amount by the difference.

57. The system of claim 53, wherein said bet data includes a multiplier value and wherein said difference is divided by said multiplier value prior to multiplying the bet amount by the difference.

58. The system of claim 53, wherein said system is linked to the Internet.

59. The system of claim 53, wherein the event is a sporting event.

60. The system of claim 59, wherein said predetermined time is at the end of the sporting event.

61. The system of claim 59, wherein said predetermined time is at half-time of the sports event.