Method of lottery wagering on real-world events

• US 8,579,694 B2
• Filed: 05/16/2012
• Issued: 11/12/2013
• 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:
  US13/472,729
• Publication Number:
  US 20120295685A1
• Time in Patent Office: 545 Days
• Field of Search: 463/13, 463/17, 463/19, 463/21, 463/25, 705 35- 38, 283/67, 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 17/329 Regular and instant lottery, e.g. electronic scratch cards

Abstract

A method for lottery wagering on real-world events. 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 system for wagering on real-world events, comprising:

a computer processor;

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

selecting a set of variables, each variable representing a possible outcome of a real-world event, the possible outcome of the real-world event being available to the public at the specified time or at a time thereafter;

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 and so that the wagerers do not know which possible outcomes are associated with the picked numbers when they are picked, 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;

selecting a winning lottery number from the set of lottery numbers based on correlating the variable assigned to the winning lottery number with the possible outcome of the real-world event;

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; and

displaying the odds of one or more possible outcomes of the real world event as a percentage.

2. The system of claim 1 in which the calculated odds are displayed as a percentage and as fixed odds.

3. The system of claim 1 in which the calculated odds are updated substantially in real-time during the real world event.

4. The system of claim 3 in which a live data feed displays the calculated odds substantially in real-time during the real world event.

5. The system of claim 1 in which the computer-readable medium is includes computer instructions for receiving a server request from a client computer via a computer network and transmitting a response to the client computer, the response including computer instructions for displaying the calculated odds of the one or more outcomes of the real world event as a percentage.

6. The system of claim 1 in which the computer-readable medium is includes computer instructions for receiving a server request from a client computer via a computer network and transmitting a response to the client computer, the response including computer instructions for displaying the calculated odds of the one or more outcomes of the lottery as a percentage.

7. A system for wagering on real-world events, comprising:

a computer processor;

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

selecting a set of variables, each variable representing a possible outcome of a real-world event, the possible outcome of the real-world event being available to the public at the specified time or at a time thereafter;

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 and so that the wagerers do not know which possible outcomes are associated with the picked numbers when they are picked, 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;

selecting a winning lottery number from the set of lottery numbers based on correlating the variable assigned to the winning lottery number with the possible outcome of the real-world event;

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

subsequent to the start of a real world event, but prior to the end of the real word event, calculating the odds of one or more possible outcomes of the real world event; and

subsequent to the start of a real world event, but prior to the end of the real word event, displaying the calculated odds of the one or more possible outcomes of the real world event while the real world event is in progress.

8. The system of claim 7, in which the calculated odds of the one or more outcomes of the real world event are displayed as a percentage.

9. The system of claim 7, in which the calculated odds are displayed as a percentage and as fixed odds.

10. The system of claim 7, in which the calculated odds are updated substantially in real-time during the real world event.

11. The system of claim 7, in which a live data feed displays the calculated odds substantially in real-time during the real world event.

12. The system of claim 7, in which the computer-readable medium is includes computer instructions for receiving a server request from a client computer via a computer network and transmitting a response to the client computer, the response including computer instructions for displaying the calculated odds of the one or more outcomes of the real world event as a percentage.

13. The system of claim 7, in which the computer-readable medium is includes computer instructions for receiving a server request from a client computer via a computer network and transmitting a response to the client computer, the response including computer instructions for displaying the calculated odds of the one or more outcomes of the lottery as a percentage.