Combined fixed price and expected dividend betting system
First Claim
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1. A fixed odds betting system providing fixed price and expected dividend betting comprising;
- a control unit,a plurality of betting terminals coupled to said control unit for inputting details to the control unit of a punter'"'"'s wager entered at a particular terminal,a plurality of display means for displaying odds and expected dividends, coupled to said control unit,a control terminal for inputting control instructions to the system, coupled to said control unit, said control unit comprising;
liability calculation means for calculating from the information received from each betting terminal the liability incurred for each contestant;
first accumulation means for accumulating the total amount of the wagers;
second accumulation means for accumulating the total amount of uncancellable expected dividend wagers;
fixed price calculation means coupled to said liability calculation means and said first and second accumulation means for calculating the fixed price payable in respect of each contestant;
expected divided calculation means coupled to said liability calculation means and said first and second accumulation means for calculating the expected dividend payable in respect of each contestant;
said control unit including means for preventing the liability incurred for any one contestant from exceeding the total amount of the wagers.and, said betting terminals including means responsive to said control unit to issue a record of each betting transaction indicating details of a wager, and the fixed price payable in respect of said wager following completion of the calculations by said control unti in respect of said transaction;
said system including means for initially only providing expected dividend betting until the total amount of uncancellable expected dividend wagers is equal to a predetermined figure after which both expected dividend and fixed price betting are provided.
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Abstract
A betting system having a number of betting terminals and displays connected to a central control unit. The betting system allows both fixed price and expected dividend betting by continually calculating the odds and liabilities in respect of each contestant and ensuring that the total liability incurred does not exceed the total amount of money wagered. Only expected dividend betting is allowed until a threshold level of wagers received is reached either by wagers received at the terminals or by transfers of funds from another body. Once the threshold is reached both fixed price and expected dividend betting is allowed by the system.
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14 Claims
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1. A fixed odds betting system providing fixed price and expected dividend betting comprising;
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a control unit, a plurality of betting terminals coupled to said control unit for inputting details to the control unit of a punter'"'"'s wager entered at a particular terminal, a plurality of display means for displaying odds and expected dividends, coupled to said control unit, a control terminal for inputting control instructions to the system, coupled to said control unit, said control unit comprising; liability calculation means for calculating from the information received from each betting terminal the liability incurred for each contestant; first accumulation means for accumulating the total amount of the wagers; second accumulation means for accumulating the total amount of uncancellable expected dividend wagers; fixed price calculation means coupled to said liability calculation means and said first and second accumulation means for calculating the fixed price payable in respect of each contestant; expected divided calculation means coupled to said liability calculation means and said first and second accumulation means for calculating the expected dividend payable in respect of each contestant; said control unit including means for preventing the liability incurred for any one contestant from exceeding the total amount of the wagers. and, said betting terminals including means responsive to said control unit to issue a record of each betting transaction indicating details of a wager, and the fixed price payable in respect of said wager following completion of the calculations by said control unti in respect of said transaction; said system including means for initially only providing expected dividend betting until the total amount of uncancellable expected dividend wagers is equal to a predetermined figure after which both expected dividend and fixed price betting are provided. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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Specification