Methods and systems for conducting pari-mutuel wagers

• US 20050124410A1
• Filed: 11/05/2004
• Published: 06/09/2005
• 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., Tracy, Joseph J., Meyer, Mark G.
• Granted Patent: US 8,033,911 B2
• Time in Patent Office: Days
• US Class Current: 463/28
• 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 at least one event upon which a plurality of bettors may each place at least one wager;

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

enabling each bettor of the plurality to provide input regarding at least a second portion of the respective at least one wager prior to the at least one event upon payment of specified value; 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 enabling each bettor of the plurality to provide input regarding a first portion of their respective at least one wager further includes enabling each bettor to select at least one participant of the event.

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

4. The method according to claim 2, wherein randomizing at least one 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.

5. The method according to claim 4, wherein providing at least one 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.

6. The method according to claim 5, wherein 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.

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

8. The method according to claim 7, wherein providing at least one 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.

9. The method according to claim 1, wherein providing at least one 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.

10. The method according to claim 9, wherein 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.

11. The method according to claim 10, wherein 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.

12. The method according to claim 10, wherein 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.

13. The method according to claim 10, wherein 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.

14. The method according to claim 10, 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 at least one race.

15. The method according to claim 10, 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 at least one other race of the plurality of races.

16. 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.

17. The method according to claim 16, wherein 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.

18. The method according to claim 17, wherein enabling each bettor of the plurality to provide input regarding a first 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.

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

providing a first 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 first event;

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

compiling a first wager pool comprising any wager placed by the plurality of bettors on the first event;

providing a tiered payout structure including at least a first prize of a first value and at least one second prize of a second value different from the first;

providing a second event upon which the plurality of bettors may each place at least another wager;

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

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

compiling a second wager pool comprising any wager placed by the plurality of bettors on the second event and a remainder of the first wager pool comprising an amount not awarded under the tiered payout structure.

20. The method according to claim 19, wherein providing a first event upon which a plurality of bettors may each place at least one wager includes providing at least one race having a plurality of participants and wherein the providing second event upon which the plurality of bettors may each place at least another wager further includes providing at least one other race having a plurality of participants.