Method of operating a game of chance utilizing bidding over a network
First Claim
1. A method of operating a game of chance by a Game Operator, comprising the steps of:
- designating a specified Event having a plurality of possible Outcomes;
offering an Auctioning Session, said Auctioning Session comprising receiving at least one Bid from an Associated Player wherein said Bid comprises a Value Wager and a Bet Outcome specifying a particular Outcome in respect of the specified Event;
ending said Auctioning Session at a randomly determined point in time;
identifying the last Bid in time and the Associated Player;
subsequent to occurrence of said Event, identifying a Correct Outcome of said plurality of Outcomes;
comparing said Correct Outcome of said Event with the Bet Outcome associated with said last Bid; and
if the Bet Outcome associated with said last Bid matches said Correct Outcome, awarding to the Player who submitted said last Bid a reward based on, but not necessarily equal to, the combined value of all Bids prior in time to said last Bid.
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Abstract
A method of operating a game of chance, for fun or profit. Players first bid in an “auction” to qualify for the right to bet on the outcome of a pre-defined Event. Winning an Auctioning Session does not guarantee receipt of the wager pool—the successful Player/Bidder wins a mere chance at the pooled value of the wagers of all prior bidding Players. To win the Pool the successful Bidder must also have correctly predicted the Outcome of the Specified Event. The manner in which (game Operator) “house” risk is instead distributed to Players permits a method in which the game Operator may always receive revenues regardless of the event or its outcome. Auctioning Sessions are run by a server with no need of human auctioneers and end both at random (outside the control of the Operator) and without notice to the Players as a means of creating both suspense and credibility in the integrity of the game. In a preferred embodiment the game is globally accessible through the InterNet, but may also run on private networks.
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Citations
20 Claims
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1. A method of operating a game of chance by a Game Operator, comprising the steps of:
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designating a specified Event having a plurality of possible Outcomes;
offering an Auctioning Session, said Auctioning Session comprising receiving at least one Bid from an Associated Player wherein said Bid comprises a Value Wager and a Bet Outcome specifying a particular Outcome in respect of the specified Event;
ending said Auctioning Session at a randomly determined point in time;
identifying the last Bid in time and the Associated Player;
subsequent to occurrence of said Event, identifying a Correct Outcome of said plurality of Outcomes;
comparing said Correct Outcome of said Event with the Bet Outcome associated with said last Bid; and
if the Bet Outcome associated with said last Bid matches said Correct Outcome, awarding to the Player who submitted said last Bid a reward based on, but not necessarily equal to, the combined value of all Bids prior in time to said last Bid. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 20)
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11. A method of operating a game of chance comprising the steps of:
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designating a specified Event having a plurality of possible Outcomes;
creating with respect to an Associated Player a Player Account that is provided with funds by said Associated Player;
offering an Auctioning Session said Auctioning Session comprising receiving Bids from a plurality of Associated Players, wherein each Bid comprises a Value Wager and a Bet Outcome specifying a particular outcome in respect of the Specified Event;
accumulating the Value Wagers of all Bids into a Pool;
terminating the Auctioning Session after a random interval of time;
upon occurrence of an Outcome of said plurality of Outcomes in respect of said Event, determining the last Associated Player prior to termination of said Auctioning Session, and determining if the Bid of said Associated Player predicted said Outcome of said plurality of Outcomes; and
providing substantially all of the Pool to said last Associated Player if said last Associated Player predicted said Outcome of said plurality of Outcomes. - View Dependent Claims (12, 13, 15, 16, 17, 18, 19)
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14. A method of operating a game of chance comprising the steps of:
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designating a specified Event having a plurality of possible Outcomes;
conducting an Auctioning Session, said Auctioning Session comprising receiving Bids from a plurality of Associated Players, wherein each Bid comprises a Value Wager and a Bet Outcome specifying a particular outcome in respect of the specified Event; and
terminating said Auctioning Session after a random interval of time.
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Specification