Systems and methods for advanced wagering

• US 9,257,015 B2
• Filed: 04/04/2013
• Issued: 02/09/2016
• Est. Priority Date: 04/04/2013
• Status: Expired due to Fees

• Current Assignee: Pari-Mutual Solutions, LLC
• Original Assignee: Pari-Mutual Solutions, LLC
• Inventors: Cornett, Mark A.
• Primary Examiner(s): TORIMIRO, ADETOKUNBO OLUSEGUN
• Application Number:
  US13/856,901
• Publication Number:
  US 20140302904A1
• Time in Patent Office: 1,041 Days
• Field of Search: 463/16, 463/25, 463/40, 463/20, 463/22, 463/39, 700/93
• US Class Current: 1/1
• 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 17/3288 Betting, e.g. on live events, bookmaking

Abstract

Included are systems and methods for advanced wagering. Some embodiments may include determining a desired wagering event for placing a wager, providing a user interface that includes a wager field for a user to indicate a wager and a payout field for the user to enter a desired payout that is based on the wager, calculating a wager amount to achieve the desired payout, and providing the wager amount to the user.

Claims

1. A system for advanced wagering, comprising:

a memory component that stores logic that, when executed by a processor, causes the system to perform at least the following;

determine a wagering event occurring at a track for a player to place a wager;

provide a user interface that includes a wager field for a user to indicate the wager and a payout field for the user to enter a desired payout that is based on the wager;

receive track odds for the wagering event, wherein the track odds are calculated by the track;

receive, from a user computing device, player odds for the wagering event, wherein the player odds are calculated by the player before the wagering event and reflect a likelihood that the player believes a result in the wagering event will occur;

determine a total overlay percentage that represents a difference between the track odds and the player odds for the wagering event;

calculate a wager amount to achieve the desired payout;

provide the wager amount to the user; and

place the wager for the wager amount via an electronic transaction with the user computing device.

2. The system of claim 1, wherein the logic further causes the system to provide an option to wager on the wagering event.

3. The system of claim 1, wherein calculating the wager amount comprises calculating an amount to wager on each portion of the wager to achieve the desired payout.

4. The system of claim 1, wherein the logic further causes the system to provide an option for receiving the player odds, the player odds being determined by a player.

5. The system of claim 1, wherein the logic further causes the system to provide an individual overlay percentage that represents a difference between the track odds and the player odds of an event participant of the wagering event.

6. The system of claim 1, wherein the logic further causes the system to provide a predicted payout of the wager prior to the wager being placed, wherein calculating the predicted payout takes into consideration a predicted effect that the wager will have on track odds of the wagering event.

7. The system of claim 1, further comprising, recommending a recommended wager, based on the overlay percentage.

8. A method for advanced wagering, comprising:

determining, by a remote computing device, a plurality of desired event participants for wagering;

receiving, by the remote computing device, player odds for a wagering event from a player via a user computing device for each of the plurality of desired event participants, wherein the player odds are calculated by the player before the wagering event and reflect a likelihood that the player believes a result in the wagering event will occur;

receiving, by the remote computing device, track odds for each of the plurality of desired event participants;

receiving, by the remote computing device, a proposed wager from the user computing device that includes at least two of the plurality of desired event participants;

calculating, by the remote computing device, a track payout for the proposed wager based on the track odds;

calculating, by the computing device, a hypothetical payout for the proposed wager, based on the player odds;

comparing, by the remote computing device, the hypothetical payout with the track payout to determine overlay data that indicates whether the proposed wager is a net gain for the player;

providing, by the remote computing device, the overlay data for display; and

placing, by the remote computing device, the proposed wager via an electronic transaction with the user computing device.

9. The method of claim 8, further comprising providing a user interface for a user to provide the player odds and provide the overlay data for display.

10. The method of claim 8, wherein the proposed wager comprises at least one of the following:

an Exacta wager, a Trifecta wager, and a Superfecta wager.

11. The method of claim 8, further comprising calculating a wager amount of each portion of the proposed wager to achieve a predetermined base win amount.

12. The method of claim 8, further comprising determining overlay data for at least one of the plurality of desired event participants.

13. The method of claim 8, further comprising providing an option to place a wager.

14. The method of claim 8, further comprising providing a user option for indicating a desired win amount and, in response to receiving the desired win amount, calculating a wager amount related to the desired win amount.

15. The method of claim 8, further comprising providing wager percent data that represents a cost of placing a wager.

16. A non-transitory computer-readable medium that stores logic that, when executed by a computing device, causes the computing device to perform at least the following:

determine a desired event participant of an event for wagering;

determine first odds for a proposed wager of the desired event participant, based on a single participant wager pool;

calculate second odds of the proposed wager of the desired event participant alone, based on a multiple participant wager pool;

compare the first odds to the second odds to determine which pool provides better odds for a player; and

recommend, to the user on a user computing device, an actual wager, based on the better odds; and

place the actual wager via an electronic transaction with the user computing device.

17. The non-transitory computer-readable medium of claim 16, wherein the logic further causes the computing device to provide an option to key a desired first participant with all other desired event participants in the event in a key wager.

18. The non-transitory computer-readable medium of claim 17, wherein the key wager comprises at least one of the following:

an Exacta key wager, a Trifecta key wager, a Superfecta key wager, and a win key wager.

19. The non-transitory computer-readable medium of claim 17, wherein the logic further causes the computing device to calculate a wager amount of each portion of the key wager to achieve a predetermined base win amount.

20. The non-transitory computer-readable medium of claim 16, wherein the logic further causes the computing device to a percentage of wagers that have been made for the desired event participant in the multiple participant wager pool.