System and method for managing bets selecting events and participants

• US 20050181862A1
• Filed: 02/03/2004
• Published: 08/18/2005
• Est. Priority Date: 02/03/2004
• Status: Active Grant

• Current Assignee: Cantor Index LLC
• Original Assignee: Cantor Index LLC
• Inventors: Asher, Joseph M., Miller, Kenneth L.
• Granted Patent: US 9,098,883 B2
• Time in Patent Office: Days
• US Class Current: 463/25
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/3223 Architectural aspects of a gaming system, e.g. internal configuration, master/slave, wireless communication
• CPC Class Codes: G07F 17/3258 Cumulative reward schemes, e.g. jackpots
• CPC Class Codes: G07F 17/3272 Games involving multiple players
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A method of managing bets is provided. The method includes receiving one or more bets. Each bet comprises a selection of a first number of events selected from a group of events, a selection of a respective participant for each of the first number of events selected and a bet amount. The method also includes combining each bet amount to form a betting pool and determining an amount of a total payout based at least in part on the betting pool.

Claims

1. A method for managing bets, comprising:

receiving one or more bets, each bet comprising;

a selection of a first number of events selected from a group of events;

a selection of a respective participant for each of the first number of events selected; and

a bet amount;

combining each bet amount to form a betting pool; and

determining an amount of a total payout based at least in part on the betting pool.

2. The method of claim 1, further comprising:

receiving results of the group of events, the results identifying a winning participant for each event of the group of events; and

determining one or more winning bets of the one or more bets based on the results.

3. The method of claim 2, wherein determining one or more winning bets comprises determining for each of the one or more bets if each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet.

4. The method of claim 2, wherein a bet of the one or more bets comprises a winning bet if:

each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet;

or

at least some of the selected respective participants correspond to a winning participant for each of the first number of events selected and the bet of the one or more bets includes a winning participant of a specified event.

5. The method of claim 2, wherein a bet of the one or more bets comprises a winning bet if:

each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet;

or

at least some of the selected respective participants correspond to a winning participant for each of the first number of events selected and the bet amount is at least as high as a specified amount.

6. The method of claim 2, wherein a bet of the one or more bets comprises a winning bet if:

each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet;

or

at least some of the selected respective participants correspond to a winning participant for each of the first number of events selected and the selected respective participants of the bet comprise participants having specified odds.

7. The method of claim 2, further comprising determining an amount to be paid for each winning bet based on the number of winning bets and the amount of the total payout.

8. The method of claim 7, wherein determining an amount to be paid for each winning bet is further based on the bet amount of each winning bet.

9. The method of claim 7, wherein determining an amount to be paid for each winning bet is further based on the odds of the selected respective participants of each winning bet.

10. The method of claim 7, further comprising increasing a payout for a first winning bet of the one or more winning bets if the first winning bets selected respective participants for each of the first number of events selected each had specified odds.

11. The method of claim 7, further comprising increasing a payout for a first winning bet of the one or more winning bets if at least one of the first winning bets selected events comprises a specified event.

12. The method of claim 1, wherein determining an amount of a total payout based at least in part on the betting pool comprises applying a commission rate to the betting pool.

13. The method of claim 1, wherein determining an amount of a total payout based at least in part on the betting pool comprises adding to the betting pool a carryover amount from a previous betting pool.

14. The method of claim 1, further comprising:

receiving results of the group of events, the results identifying a winning participant for each event of the group of events;

determining whether there are any winning bets by determining for each of the one or more bets if each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet; and

determining a carryover amount to carry over to a future total payout if there are no winning bets.

15. The method of claim 1, further comprising:

canceling at least one event of the group of events;

receiving results of the group of events, the results identifying a winning participant for at least one event of the group of events; and

determining one or more winning bets by determining for each of the one or more bets if at least one of the selected respective participants corresponds to the winning participant for at least one of the first number of events selected in the bet.

16. The method of claim 1, wherein the first number of events comprise horse racing events held at different tracks.

17. The method of claim 1, wherein the first number of events comprise events held on different days.

18. The method of claim 1, wherein the first number of events comprise one or more horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic or other sporting events.

19. The method of claim 1, wherein the first number of events comprise at least one horse racing event and at least one football event.

20. The method of claim 1, wherein the first number of events comprise at least one football event and at least one basketball event.

21. The method of claim 1, wherein the first number of events comprise:

a first event comprising a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event; and

a second event comprising a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event; and

wherein the first event and the second event comprise different types of events.

22. The method of claim 1, further comprising stipulating an adjustment parameter that provides a bonus to the one or more bets upon satisfaction of the adjustment parameter.

23. A system for managing bets, comprising:

a memory operable to store one or more bets, each bet comprising;

a selection of a first number of events selected from a group of events;

a selection of a respective participant for each of the first number of events selected; and

a bet amount; and

a processor coupled to the memory, the processor operable to;

combine each bet amount to form a betting pool; and

determine an amount of a total payout based at least in part on the betting pool.

24. The system of claim 23, wherein the processor is further operable to:

receive results of the group of events, the results identifying a winning participant for each event of the group of events; and

determine one or more winning bets of the one or more bets based on the results.

25. The system of claim 24, wherein a processor operable to determine one or more winning bets comprises a processor operable to determine for each of the one or more bets if each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet.

26. The system of claim 24, wherein a bet of the one or more bets comprises a winning bet if:

each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet;

or

at least some of the selected respective participants correspond to a winning participant for each of the first number of events selected and the bet of the one or more bets includes a winning participant of a specified event.

27. The system of claim 24, wherein a bet of the one or more bets comprises a winning bet if:

each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet;

or

at least some of the selected respective participants correspond to a winning participant for each of the first number of events selected and the bet amount is at least as high as a specified amount.

28. The system of claim 24, wherein a bet of the one or more bets comprises a winning bet if:

each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet;

or

at least some of the selected respective participants correspond to a winning participant for each of the first number of events selected and the selected respective participants of the bet comprise participants having specified odds.

29. The system of claim 24, wherein the processor is further operable to determine an amount to be paid for each winning bet based on the number of winning bets and the amount of the total payout.

30. The system of claim 29, wherein the processor is operable to determine an amount to be paid for each winning bet further based on the bet amount of each winning bet.

31. The system of claim 29, wherein the processor is operable to determine an amount to be paid for each winning bet further based on the odds of the selected respective participants of each winning bet.

32. The system of claim 29, wherein the processor is operable to increase a payout for a first winning bet of the one or more winning bets if the first winning bet'"'"'s selected respective participants for each of the first number of events selected each had specified odds.

33. The system of claim 29, wherein the processor is operable to increase a payout for a first winning bet of the one or more winning bets if at least one of the first winning bet'"'"'s selected events comprises a specified event.

34. The system of claim 23, wherein a processor operable to determine an amount of a total payout based at least in part on the betting pool comprises a processor operable to apply a commission rate to the betting pool.

35. The system of claim 23, wherein a processor operable to determining an amount of a total payout based at least in part on the betting pool comprises a processor operable to add to the betting pool a carryover amount from a previous betting pool.

36. The method of claim 23, wherein the processor is further operable to:

receive results of the group of events, the results identifying a winning participant for each event of the group of events;

determine whether there are any winning bets by determining for each of the one or more bets if each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet; and

determine a carryover amount to carry over to a future total payout if there are no winning bets.

37. The system of claim 23, wherein the processor is further operable to:

cancel at least one event of the group of events;

receive results of the group of events, the results identifying a winning participant for at least one event of the group of events; and

determine one or more winning bets by determining for each of the one or more bets if at least one of the selected respective participants corresponds to the winning participant for at least one of the first number of events selected in the bet.

38. The system of claim 23, wherein the first number of events comprise horse racing events held at different tracks.

39. The system of claim 23, wherein the first number of events comprise events held on different days.

40. The system of claim 23, wherein the first number of events comprise one or more horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic or other sporting events.

41. The system of claim 23, wherein the first number of events comprise at least one horse racing event and at least one football event.

42. The system of claim 23, wherein the first number of events comprise at least one football event and at least one basketball event.

43. The system of claim 23, wherein the first number of events comprise:

a first event comprising a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event; and

a second event comprising a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event; and

wherein the first event and the second event comprise different types of events.

44. The system of claim 23, wherein the processor is operable to communicate an adjustment parameter that provides a bonus to the one or more bets upon satisfaction of the adjustment parameter.

45. A method for managing bets, comprising:

receiving a plurality of bets, each bet comprising;

a selection of a first number of events selected from a group of events;

a selection of a respective participant for each of the first number of events selected; and

a bet amount;

combining each bet amount to form a betting pool;

determining an amount of a total payout based at least in part on the betting pool.

receiving results of the group of events, the results identifying a winning participant for each event of the group of events;

determining one or more winning bets of the plurality of bets by determining for each of the plurality of bets if each selected respective participant corresponds to the winning participant for each of the first number of events selected in the bet;

determining an amount to be paid for a winning bet of the one or more winning bets based on the number of winning bets, the amount of the total payout and the bet amount of the winning bet of the one or more winning bets.

46. The method of claim 45, further comprising paying a bonus from the amount of the total payout if the winning bet of the one or more winning bets comprises a winning participant of a specified event.

47. The method of claim 45, further comprising paying a bonus from the amount of the total payout if at least some of the selected respective participants for each of the first number of events selected of the winning bet of the one or more winning bets had specified odds.

48. The method of claim 45, further comprising applying a commission rate to the betting pool.

49. The method of claim 45, wherein the first number of events comprise horse racing events held at different tracks.

50. The method of claim 45, wherein the first number of events comprise at least one football event and at least one of the following types of events:

horse racing, dog racing, basketball, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic or other sporting events.

51. The method of claim 45, wherein the first number of events comprise:

a first event comprising a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event; and

a second event comprising a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event;

wherein the first event and the second event are different types of events.

52. The method of claim 45, further comprising stipulating an adjustment parameter that provides a bonus to the one or more bets upon satisfaction of the adjustment parameter.

53. A method for managing bets, comprising:

receiving one or more bets, each bet comprising;

a selection of a first number of events selected from a group of events;

a selection of a respective participant for each of the first number of events selected; and

a bet amount;

combining each bet amount to form a betting pool;

determining an amount of a total payout based at least in part on the betting pool;

receiving results of the group of events; and

determining one or more winning bets of the one or more bets based on the results.