System and method for betting on a subset of participants in an event
First Claim
1. A method of managing bets, comprising:
- receiving one or more win bets, each win bet comprising a bet that a participant selected from a set of participants in an event will win the event;
receiving one or more group bets, each group bet comprising a bet that one of a subset of the set of participants will win the event, wherein the subset comprises a plurality of the set of participants;
receiving results of the event identifying a winning participant from the set of participants;
determining an amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant; and
determining an amount of a group bet payout for at least one of the group bets.
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Accused Products
Abstract
A method of managing bets is provided. The method includes receiving win bets and group bets. Each win bet includes a bet that a participant selected from a set of participants in an event will win the event. Each group bet includes a bet that one of a subset of the set of participants will win the event. Results of the event identifying a winning participant from the set of participants are received. An amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant is determined. An amount of a group bet payout for at least one of the group bets is also determined. In this manner, a bettor may bet on all participants in an event other than a particular participant, such as the favorite participant, and thus effectively bet against the particular participant.
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Citations
42 Claims
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1. A method of managing bets, comprising:
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receiving one or more win bets, each win bet comprising a bet that a participant selected from a set of participants in an event will win the event;
receiving one or more group bets, each group bet comprising a bet that one of a subset of the set of participants will win the event, wherein the subset comprises a plurality of the set of participants;
receiving results of the event identifying a winning participant from the set of participants;
determining an amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant; and
determining an amount of a group bet payout for at least one of the group bets. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for managing bets, comprising:
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a memory operable to store;
one or more win bets, each win bet comprising a bet that a participant selected from a set of participants in an event will win the event;
one or more group bets, each group bet comprising a bet that one of a subset of the set of participants will win the event, wherein the subset comprises a plurality of the set of participants; and
results of the event identifying a winning participant from the set of participants; and
a processor coupled to the memory and operable to;
determine an amount of a win bet payout for at least a portion of the win bets that comprise a bet on the winning participant; and
determine an amount of a group bet payout for at least one of the group bets. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42)
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Specification