Methods and systems for conducting pari-mutuel wagers

• US 20050102223A1
• Filed: 11/07/2003
• Published: 05/12/2005
• Est. Priority Date: 11/07/2003
• Status: Active Grant

• Current Assignee: United Tote Co. (Churchill Downs Incorporated)
• Original Assignee: United Tote Co. (Churchill Downs Incorporated)
• Inventors: Smith, Stephen M., Harrison, Victor I., Vlazny, Kenneth A., Murphy, Jeffery B., Tracy, Joseph J.
• Granted Patent: US 7,883,411 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

The present invention contemplates methods and systems of conducting wagers, such as pari-mutuel wagers. In one exemplary embodiment an event, such as a horse race, dog race, a combination of races, etc., is identified for which a plurality of bettors may each place at least one wager. Each bettor of the plurality is enabled to provide input regarding at least one portion of their respective at least one wager prior to the event. At least one other portion of each bettor'"'"'s at least one wager is randomized prior to the event. The wager then comprises the combination of the bettor selected portion and randomized portion. In one exemplary embodiment, the player selected portion may include selecting bettor-preferred participants of the event while the randomly selected portion may include the randomly assigning a finishing order to the player selected participants.

Claims

1. A method of conducting a wagering activity, the method comprising:

providing an event upon which a plurality of bettors may each place at least one wager;

enabling each bettor of the plurality to provide input regarding at least one portion of their respective at least one wager prior to the event; and

randomizing at least one other portion of each bettor'"'"'s at least one wager prior to the event.

2. The method according to claim 1, wherein the enabling each bettor of the plurality to provide input regarding at least portion of their respective at least one wager further includes enabling the each bettor to select at least one participant of the event.

3. The method according to claim 2, wherein the randomizing at least on other portion of each bettor'"'"'s at least one wager further includes randomly assigning a predicted performance indicator to the at least one selected participant.

4. The method according to claim 3, wherein the providing an event upon which a plurality of bettors may each place a wager further includes conducting at least one race having a plurality of participants therein.

5. The method according to claim 4, wherein the randomly assigning a predicted performance indicator includes randomly assigning an order in which the at least one selected participant will finish the at least one race.

6. The method according to claim 5, wherein the enabling each bettor to select at least one participant of the event includes enabling each bettor to select a plurality of participants.

7. The method according to claim 6, wherein the providing an event upon which a plurality of bettors may each place a wager includes enabling the bettor to place at least one of a perfecta, trifecta, superfecta or quinella wager.

8. The method according to claim 1, wherein the providing an event upon which a plurality of bettors may each place a wager includes conducting a plurality of races wherein each race includes a plurality of participants.

9. The method according to claim 8, wherein the enabling each bettor of the plurality to provide input regarding at least one portion of their respective at least one wager further includes selecting at least one participant of at least one race.

10. The method according to claim 9, wherein the randomizing at least one other portion of each bettor'"'"'s at least one wager further includes randomly assigning an order in which the at least one selected participant will finish its associated at least one race.

11. The method according to claim 9, wherein the selecting at least one participant of at least one race further includes selecting a finishing order of the at least one participant of the at least one race.

12. The method according to claim 9, wherein the randomizing at least one other portion of each bettor'"'"'s at least one wager further includes randomly selecting at least one participant of at least one other race.

13. The method according to claim 9, wherein the randomizing at least one other portion of each bettor'"'"'s at least one wager further includes randomly selecting at least one other participant of the at least one race.

14. The method according to claim 9, wherein the randomizing at least on other portion of each bettor'"'"'s at least one wager further includes randomly selecting at least one other participant of at least one other race of the plurality of races.

15. The method according to claim 1, further comprising compiling a pool of wagers from the at least one wager of each of the plurality of bettors, removing a defined percentage of the pool of wagers and providing at least one jackpot from the remaining pool of wagers.

16. The method according to claim 15, wherein the providing at least one jackpot further includes providing a tiered prize structure including at least a first prize of a first value and plurality of second prizes each of a second value different from the first value.

17. The method according to claim 16, wherein the enabling each bettor of the plurality to provide input regarding at least one portion of their respective at least one wager further includes enabling the each bettor to select at least one participant of the event and wherein randomizing at least one other portion of each bettor'"'"'s at least one wager further includes randomly selecting at least one other participant of the event.

18. The method according to claim 16, wherein the event includes a plurality of participants, wherein enabling each bettor of the plurality to provide input regarding at least one portion of their respective at least one wager further includes enabling the bettor to assign a performance indicator to at least one of the plurality of participants and wherein randomizing at least one other portion of each bettor'"'"'s at least one wager further includes randomly assigning a performance indicator to at least one other participant of the plurality.

19. The method according to claim 18, wherein the event includes at least one race and wherein the associated performance indicators of the at least one participant and the at least one other participant includes assigning a respective predicted finishing order to each of the at least one participant and the at least one other participant.

20. A method of wagering, the method comprising:

enabling a plurality of bettors to each place at least one wager regarding an event to be conducted in the future, wherein the wager is based on a prediction of an outcome of the event;

enabling the plurality of bettors to each individually select at least one predicted aspect of the outcome of the event;

randomly selecting at least one other predicted aspect of the outcome of the event for each of the bettors'"'"' at least one wager; and

subsequent an actual occurrence of the event, comparing the at least one predicted aspect and the at least one other predicted aspect to an actual outcome of the event.

21. The method according to claim 20, further comprising conducting the event including conducting at least one race with a plurality of participants.

22. The method according to claim 21, wherein the enabling the plurality of bettors to each individually select at least one predicted aspect of the outcome of the event further includes enabling the plurality of bettors to each individually select a predicted aspect of a performance of at least one participant of the plurality.

23. The method according to claim 22, wherein the randomly selecting at least one other predicted aspect of the outcome of the event for each of the bettors'"'"' at least one wager further includes randomly selecting a predicted aspect of a performance of at least one other participant of the plurality.

24. The method according to claim 23, wherein the randomly selecting at least one other predicted aspect of the outcome of the event for each of the bettors'"'"' at least one wager further includes randomly selecting another predicted aspect of a performance of the at least one participant of the plurality.

25. The method according to claim 20, further comprising conducting the event including conducting a plurality of races wherein each race includes a plurality of participants.

26. The method according to claim 25, wherein the enabling the plurality of bettors to each individually select at least one predicted aspect of the outcome of the event further includes enabling the plurality of bettors to each individually select a predicted aspect of a performance of at least one participant of at least one race.

27. The method according to claim 26, wherein the randomly selecting at least one other predicted aspect of the outcome of the event for each of the bettors'"'"' at least one wager further includes randomly selecting a predicted aspect of a performance of at least one participant of at least one other race.

28. The method according to claim 26, wherein the randomly selecting at least one other predicted aspect of the outcome of the event for each of the bettors'"'"' at least one wager further includes randomly selecting a predicted aspect of a performance of at least one other participant of the at least one other race.

29. The method according to claim 26, wherein the randomly selecting at least one other predicted aspect of the outcome of the event for each of the bettors'"'"' at least one wager further includes randomly selecting another predicted aspect of a performance of the least one participant of the at least one race.

30. The method according to claim 25, wherein the conducting a plurality of races includes conducting at least one race at a first location and at least one race at a second location.

31. The method according to claim 25, further comprising compiling a wager pool comprising any wager placed by the plurality of bettors on the event, reducing the wager pool by a determined portion, and dividing a remainder of the wagering pool among a plurality of bettors responsive to comparing the at least one predicted aspect and the at least one other predicted aspect to an actual outcome of the event.

32. The method according to claim 31, wherein the dividing a remainder of the wagering pool among a plurality of bettors further includes providing a tiered payout structure, and wherein providing a tiered payout structure includes considering a quantity of races included in the plurality of races and an average number of participants for the plurality of races.

33. The method according to claim 32, wherein the providing a tiered payout structure further includes considering a predicted selection bias of the plurality of inventors and wherein a plurality of predicted aspects of the outcome of the event is selected by each bettor of the plurality.

34. A system for conducting a pari-mutuel wager comprising:

a computer having at least one processor and at least one memory device;

an input device configured to receive at least one selection of from each of a plurality of bettors regarding at least one predicted aspect of an outcome of an event; and

wherein the computer is configured to randomly select at least one other predicted aspect of the outcome of the event and combine the at least one predicted aspect and the at least one other predicted aspect to form a wager regarding an actual outcome of the event.

35. The system of claim 34, further comprising an apparatus for receiving a monetary value associated with the wager.

36. The system of claim 34, further comprising an output device configured to display the at least one predicted aspect and the at least one other predicted aspect.

37. A network comprising:

a plurality of wagering systems operably coupled with each other, wherein at least one wagering system of the plurality comprises;

a computer having at least one processor and at least one memory device; and

an input device configured to receive at least one selection of from each of a plurality of bettors regarding at least one predicted aspect of an outcome of an event;

wherein the computer is configured to randomly select at least one other predicted aspect of the outcome of the event and combine the at least one predicted aspect and the at least one other predicted aspect to form a wager regarding an actual outcome of the event.

38. The network of claim 37, wherein the at least one wagering system further comprises an apparatus for receiving a monetary value associated with the wager.

39. The network of claim 37, wherein the at least one wagering system further comprises an output device configured to display the at least one predicted aspect and the at least one other predicted aspect.

40. The network of claim 37, wherein the at least one wagering system is located at a first wagering venue and wherein at least a second wagering system is located at a second wagering venue remotely located from the first wagering venue.