System and method for betting on a subset of participants in an event wherein betting parameters may change over time
First Claim
1. A method of managing bets, comprising:
- identifying a set of participants in an event;
receiving a group bet for the event, the group bet comprising a bet that one of an undefined subset of the set of participants will win the event;
after betting for the event is closed and prior to receiving results of the event, defining the subset of participants associated with the group bet by determining participants for the subset of participants;
receiving results of the event identifying a winning participant; and
determining an amount of a group bet payout for the group bet based at least on whether the defined subset of participants includes the winning participant.
1 Assignment
0 Petitions
Accused Products
Abstract
A method of managing bets is provided. The method includes identifying a set of participants in an event and receiving a group bet for the event. The group bet comprises a bet that one of an undefined subset of the set of participants will win the event. The undefined subset of participants associated with the group bet is defined at some time after receiving the group bet by determining participants for the subset of participants. For example, the undefined subset of participants may be defined after the close of betting on the event. Results of the event that identify a winning participant are received, and an amount of a group bet payout for the group bet is determined based at least on whether the defined subset of participants includes the winning participant.
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Citations
34 Claims
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1. A method of managing bets, comprising:
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identifying a set of participants in an event; receiving a group bet for the event, the group bet comprising a bet that one of an undefined subset of the set of participants will win the event; after betting for the event is closed and prior to receiving results of the event, defining the subset of participants associated with the group bet by determining participants for the subset of participants; receiving results of the event identifying a winning participant; and determining an amount of a group bet payout for the group bet based at least on whether the defined subset of participants includes the winning participant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A system for managing bets, comprising:
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a memory operable to store one or more bets; and a processor communicatively coupled to the memory and operable to; identify a set of participants in an event; receive a group bet for the event, the group bet comprising a bet that one of an undefined subset of the set of participants will win the event; after betting for the event is closed and prior to receiving results of the event, define the subset of participants associated with the group bet by determining participants for the subset of participants; receive results of the event identifying a winning participant; and determine an amount of a group bet payout for the group bet based at least on whether the defined subset of participants includes the winning participant. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34)
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Specification