Method of lottery wagering on real-world events

• US 8,574,055 B2
• Filed: 09/24/2012
• Issued: 11/05/2013
• Est. Priority Date: 06/25/2003
• Status: Expired due to Fees

• Current Assignee: James M. Odom, Scott D. Yelich
• Original Assignee: James M. Odom, Scott D. Yelich
• Inventors: Odom, James M., Yelich, Scott D.
• Primary Examiner(s): Deodhar, Omkar
• Assistant Examiner(s): TORIMIRO, ADETOKUNBO OLUSEGUN
• Application Number:
  US13/625,077
• Publication Number:
  US 20130079094A1
• Time in Patent Office: 407 Days
• Field of Search: 463/13, 463/17, 463/19, 463/21, 463/25, 705/35, 705/36, 705/37, 705/38, 273/67, 273/292
• US Class Current: 463/17
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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: G07C 15/006 electronically
• 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
• CPC Class Codes: G07F 17/329 Regular and instant lottery, e.g. electronic scratch cards

Abstract

Methods for direct wagering and lottery wagering on real-world events including outcomes based on fantasy sports league performance. One method according to an embodiment of the present invention includes selecting a set of variables, each variable representing a time-varying value capable of having a fixed value at a specified time. For each variable, the method includes selecting a range of values for the fixed value of the variable at the specified time, dividing the range of values into a set of n increments, randomly assigning a lottery number from a set of lottery numbers, 1 to n, to each increment, selecting a winning lottery number from the set of lottery numbers based on correlating the fixed value of the variable at the specified time with the increment associated with the winning lottery number; and determining a set of winning lottery numbers from the winning lottery numbers selected for each variable.

Claims

1. A computer-implemented method of lottery wagering based on the outcome of fantasy sports events, comprising a computer performing the steps of:

providing a set of variables, each variable capable of having a fixed value at a specified time, the fixed value of each variable representing an outcome of a fantasy sports event as of the specified time;

receiving wagering data from a first lottery player, the wagering data comprising a first set of wagering numbers;

associating the first set of wagering numbers with the first lottery player;

for each variable in the set of variables;

randomly assigning a lottery number from a set of lottery numbers to each variable in the set of variables so that each lottery number in the set of lottery numbers is randomly assigned to one of the variables in the set of variables, wherein each wagering number in the first set of wagering numbers corresponds to the lottery number selected by the first lottery player for each variable in the set of variables and so that the wagerers do not know which possible outcomes of the fantasy sports event are associated with the picked numbers when the numbers are picked;

selecting a winning lottery number from the set of lottery numbers based on correlating the variable assigned to the winning lottery number with the fixed value of the fantasy sports event as of the specified time;

determining a set of winning lottery numbers, the set of winning lottery numbers comprising the winning lottery number selected for each variable in the set of variables; and

determining whether the first lottery player is a winning lottery player based on correlating the first set of wagering numbers with the set of winning lottery numbers.

2. The method of claim 1,

wherein each variable capable of having a fixed value at a specified time further comprises a set of participants in one or more fantasy sports competitions;

wherein the outcomes of the one or more fantasy sports competitions are available to the first lottery player at least upon the conclusion of the one or more fantasy sports competitions;

wherein randomly assigning a lottery number to each variable further comprises randomly assigning a lottery number from a set of lottery numbers to each participant in the set of participants so that each lottery number in the set of lottery numbers is assigned to only one participant in the set of participants; and

wherein selecting a winning lottery number further comprises selecting a winning lottery number from the set of lottery numbers based on a predetermined criterion.

3. The method of claim 2, wherein each participant in the set of participants is selected from a group comprising:

fantasy sports teams competing in a fantasy sports league; and

athletes whose performance provides the basis for scoring in a fantasy sports league.

4. The method of claim 3, wherein the predetermined criterion for selecting the winning lottery numbers is based on points scored in a fantasy sports league.

5. The method of claim 1, further comprising, subsequent to the step of randomly assigning a lottery number to each variable and prior to the step of selecting a winning lottery number:

receiving a request from the first lottery player to trade at least a subset of the first set of wagering numbers in exchange for at least a subset of a second set of wagering numbers;

receiving a request from a second lottery player to trade the subset of the second set of wagering numbers in exchange for the subset of first set of wagering numbers;

correlating the request from the first lottery player with the request from the second lottery player;

associating the subset of the first set of wagering numbers with the second lottery player; and

associating the subset of the second set of wagering numbers with the first lottery player.

6. The method of claim 1, further comprising, subsequent to the step of randomly assigning a lottery number to each variable and prior to the step of selecting a winning lottery number:

receiving a request from the first lottery player to sell at least a subset of the first set of wagering numbers for a predetermined price;

receiving a request from a second lottery player to buy at least the subset of the first set of wagering numbers for the predetermined price;

correlating the request from the first lottery player with the request from the second lottery player based on the subset of the first set of wagering numbers and the predetermined price;

associating the subset of the first set of wagering numbers with the second lottery player;

debiting an account associated with the second lottery player in an amount at least equal to the predetermined price; and

crediting an account associated with the first lottery player with an amount no more than the predetermined price.

7. The method of claim 1, further comprising, subsequent to the step of randomly assigning a lottery number to each variable and prior to the step of selecting a winning lottery number:

providing an indication of one or more options available to a lottery player to revise the set of wagering numbers, each option including a price and a revision scheme;

receiving a request from the first lottery player to revise the first set of wagering numbers in accordance with one of the options;

revising the first set of wagering numbers in accordance with the revision scheme of the option selected by the first lottery player; and

debiting an account associated with the first lottery player in the amount of the price of the option selected by the first lottery player.

8. The method of claim 1, further comprising providing periodic statements to a lottery player, each statement including an indication of all lottery transactions during a time period of the statement.

9. The method of claim 1, further comprising, subsequent to the step of randomly assigning a lottery number to each variable and prior to the step of selecting a winning lottery number, displaying to the first lottery player a probability that one or more wagering numbers from the first set of wagering numbers will be a winning lottery number based on an odds line provided by a lottery distributor.

10. The method of claim 9, wherein the probability displayed to the first lottery player is displayed as a percentage.

11. A system for lottery wagering based on the outcome of fantasy sports events, comprising:

a computer processor;

a non-transitory computer-readable medium coupled to the computer processor, the non-transitory computer-readable medium encoded with computer instructions that, when executed by the computer processor, cause the system to perform the steps of;

providing a set of variables, each variable capable of having a fixed value at a specified time, the fixed value of each variable representing an outcome of a fantasy sports event as of the specified time;

receiving wagering data from a first lottery player, the wagering data comprising a first set of wagering numbers;

associating the first set of wagering numbers with the first lottery player;

for each variable in the set of variables;

randomly assigning a lottery number from a set of lottery numbers to each variable in the set of variables so that each lottery number in the set of lottery numbers is randomly assigned to one of the variables in the set of variables, wherein each wagering number in the first set of wagering numbers corresponds to the lottery number selected by the first lottery player for each variable in the set of variables and so that the wagerers do not know which possible outcomes of the fantasy sports event are associated with the picked numbers when the numbers are picked;

selecting a winning lottery number from the set of lottery numbers based on correlating the variable assigned to the winning lottery number with the fixed value of the fantasy sports event as of the specified time;

determining a set of winning lottery numbers, the set of winning lottery numbers comprising the winning lottery number selected for each variable in the set of variables; and

determining whether the first lottery player is a winning lottery player based on correlating the first set of wagering numbers with the set of winning lottery numbers.

12. The system of claim 11,

wherein each variable capable of having a fixed value at a specified time further comprises a set of participants in one or more fantasy sports competitions;

wherein the outcomes of the one or more fantasy sports competitions are available to the first lottery player at least upon the conclusion of the one or more fantasy sports competitions;

wherein randomly assigning a lottery number to each variable further comprises randomly assigning a lottery number from a set of lottery numbers to each participant in the set of participants so that each lottery number in the set of lottery numbers is assigned to only one participant in the set of participants; and

wherein selecting a winning lottery number further comprises selecting a winning lottery number from the set of lottery numbers based on a predetermined criterion.

13. The system of claim 11, wherein each participant in the set of participants is selected from a group comprising:

fantasy sports teams competing in a fantasy sports league; and

athletes whose performance provides the basis for scoring in a fantasy sports league.

14. The system of claim 13, wherein the predetermined criterion for selecting the winning lottery numbers is based on points scored in a fantasy sports league.

15. The system of claim 11, further comprising, subsequent to the step of randomly assigning a lottery number to each variable and prior to the step of selecting a winning lottery number:

receiving a request from the first lottery player to trade at least a subset of the first set of wagering numbers in exchange for at least a subset of a second set of wagering numbers;

receiving a request from a second lottery player to trade the subset of the second set of wagering numbers in exchange for the subset of first set of wagering numbers;

correlating the request from the first lottery player with the request from the second lottery player;

associating the subset of the first set of wagering numbers with the second lottery player; and

associating the subset of the second set of wagering numbers with the first lottery player.