METHOD AND APPARATUS FOR PROVIDING INSURANCE POLICIES FOR GAMBLING LOSSES

• US 20070156465A1
• Filed: 02/20/2007
• Published: 07/05/2007
• Est. Priority Date: 02/21/1997
• Status: Active Grant

• Current Assignee: IGT (International Game Technology)
• Original Assignee: IGT (International Game Technology)
• Inventors: Jorasch, James, Downs, Michael, WALKER, Jay, Tulley, Stephen
• Granted Patent: US 7,771,275 B2
• Time in Patent Office: Days
• US Class Current: 705/4
• 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. A method comprising:

tracking game play of a player at one or more gaming devices;

compiling at least one statistic associated with the game play of the player;

receiving a request from the player for a gambling loss insurance policy;

defining at least one term associated with the gambling loss insurance policy; and

determining a premium based on the at least one term and the at least one statistic.

2. The method of claim 1 wherein defining terms comprises defining a refund function.

3. The method of claim 2 wherein defining the refund function comprises defining an amount to be refunded under the gambling loss insurance policy based on at least one of:

a flat refund, a percentage refund, a loss threshold, and a maximum refund amount.

4. The method of claim 1 wherein compiling the at least one statistic associated with the game play comprises defining a timeframe over which data is to be collected for compiling the statistics.

5. The method of claim 4 wherein defining the timeframe comprises selecting between an annual, lifetime or session timeframe.

6. The method of claim 1 wherein compiling the at least one statistic comprises determining an average wager.

7. The method of claim 1 wherein compiling the at least one statistic comprises determining an average period of time spent gambling by the player.

8. The method of claim 1 wherein compiling the at least one statistic comprises determining an average number of game starts made by the player in a gaming session.

9. The method of claim 1 wherein compiling the at least one statistic comprises determining a first gaming device is used by the player more than a second gaming device.

10. The method of claim 1 wherein compiling the at least one statistic comprises determining a first game type is used by the player more than a second game type.

11. The method of claim 1 further comprising assigning a risk ranking to the player based on the the at least one statistic.

12. The method of claim 11 wherein assigning the risk ranking comprises assigning the risk ranking from between a low and a high risk ranking.

13. The method of claim 12 wherein the premium is higher for a player assigned a high risk ranking than for a player assigned a low risk ranking.

14. The method of claim 1 further comprising assigning a skill ranking to the player according to the at least one statistic.

15. The method of claim 14 further comprising adjusting the premium based on the skill ranking.

16. The method of claim 1 further comprising denying the player an opportunity to purchase the gambling loss insurance policy based on the at least one statistic.

17. The method of claim 1 further comprising selling the gambling loss insurance policy to the player.

18. The method of claim 17 further comprising providing the player with an insurance tracking card.

19. The method of claim 18 wherein providing the player with the insurance tracking card comprises providing the player with a magnetic stripe card.

20. The method of claim 18 further comprising detecting usage of the insurance tracking card at a gaming device.

21. A system comprising:

a processor adapted to;

track game play of a player at one or more gaming devices;

compile at least one statistic associated with the game play of the player;

receive a request from the player for a gambling loss insurance policy;

define at least one term associated with the gambling loss insurance policy; and

determine a premium based on the at least one term and the at least one statistis.

22. The system of claim 21 wherein the processor comprises a network server processor.

23. The system of claim 21 wherein the processor comprises a gaming device processor.

24. A computer readable medium comprising software with instructions to:

track game play of a player at one or more gaming devices;

compile at least one statistic associated with the game play of the player;

receive a request from the player for a gambling loss insurance policy;

define at least one term associated with the gambling loss insurance policy; and

determine a premium based on the at least one term and the at least one statistic.