Method and apparatus for providing insurance policies for gambling losses

• US 20050101376A1
• Filed: 12/09/2004
• Published: 05/12/2005
• Est. Priority Date: 02/21/1997
• Status: Active Grant

• Current Assignee: IGT (International Game Technology)
• Original Assignee: IGT (International Game Technology)
• Inventors: Jorasch, James A., Tulley, Stephen C., Downs, Michael D., Walker, Jay S.
• Granted Patent: US 7,494,416 B2
• Time in Patent Office: Days
• US Class Current: 463/25
• CPC Class Codes: G06Q 10/02 Reservations, e.g. for tickets, services or events
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3234 about the performance of a gaming system, e.g. revenue, diagnosis of the gaming system
• CPC Class Codes: G07F 17/3237 about the players, e.g. profiling, responsible gaming, strategy/behavior of players, location of players
• CPC Class Codes: G07F 17/3239 Tracking of individual players
• CPC Class Codes: G07F 17/3244 Payment aspects of a gaming system, e.g. payment schemes, setting payout ratio, bonus or consolation prizes
• CPC Class Codes: G07F 17/3255 Incentive, loyalty and/or promotion schemes, e.g. comps, gaming associated with a purchase, gaming funded by advertisements
• CPC Class Codes: G07F 17/40 for devices for accepting orders, advertisements, or the like

Abstract

A method according to some embodiments of the present invention provides for a game server to receive policy requirements of a user for a gambling loss insurance policy from a terminal. The game server determines a premium amount based on the policy requirements of the user and transmits information concerning the premium amount to the user.

Claims

1. An apparatus, comprising:

a storage device; and

a processor in communication with the storage device,

the storage device storing a program for controlling the processor; and

the processor operative with the program to;

determine at least one policy requirement of a user for a gambling loss insurance policy;

determine a premium amount based on the at least one policy requirement; and

transmit an indication of the premium amount to the user.

2. A medium encoded with a program for implementing a method, said method comprising the steps of:

determining at least one policy requirement of a user for a gambling loss insurance policy;

determining a premium amount based on the at least one policy requirement; and

transmitting an indication of the premium amount to the user.

3. An apparatus, comprising:

a storage device; and

a processor in communication with the storage device,

the storage device storing a program for controlling the processor; and

the processor operative with the program to;

receive a user identifier that identifies a user;

execute a game for the user;

determine a game result of the game;

determine a gambling loss insurance policy that is associated with the user based on the user identifier; and

determine an insurance payout based on the gambling loss insurance policy and the game result.

4. A medium encoded with a program for implementing a method, said method comprising the steps of:

receiving a user identifier that identifies a user;

executing a game for the user;

determining a game result of the game;

determining a gambling loss insurance policy that is associated with the user based on the user identifier; and

determining an insurance payout based on the gambling loss insurance policy and the game result.

5. A method, comprising:

determining at least one policy requirement of a user for a gambling loss insurance policy,

wherein the at least one policy requirement specifies a minimum duration of time that the user must spend playing a gaming machine;

determining a payout amount to be provided to the user as a result of the policy,

wherein at least one of the minimum duration of time and the payout amount is determined such that, after providing the payout amount to the user, at least a minimum amount of profit is realized as a result of the user playing the gaming machine for the minimum duration of time;

determining a premium amount based on the at least one policy requirement; and

transmitting an indication of at least one of the premium amount, the at least one policy requirement and the payout amount to the user.

6. The method of claim 5, further comprising:

causing a tracking card to be provided to the user, the tracking card storing an indication of the at least one policy requirement.

7. The method of claim 6, wherein the tracking card comprises a smart card readable by the gaming device.

8. The method of claim 5, wherein outputting the indication comprises:

outputting, via the gaming machine, an indication of the gambling loss insurance policy as a gambling loss insurance policy that is available for purchase.

9. The method of claim 8, wherein outputting the indication comprises:

outputting an indication of the gambling loss insurance policy as one of a plurality of gambling loss insurance policies available for purchase.

10. The method of claim 9, wherein each gambling loss insurance policy of the plurality corresponds to a respective at least one policy requirement.