Method for pari-mutuel wagering

• US 9,443,392 B2
• Filed: 04/13/2015
• Issued: 09/13/2016
• Est. Priority Date: 04/13/2015
• Status: Active Grant

• Current Assignee: Parimax Holdings, Llc
• Original Assignee: AmTote International Incorporated
• Inventors: Keech, Steven
• Primary Examiner(s): Shah, Milap
• Application Number:
  US14/685,171
• Publication Number:
  US 20150302698A1
• Time in Patent Office: 519 Days
• US Class Current: 1/1
• CPC Class Codes: G07F 17/3225 Data transfer within a gaming system, e.g. data sent between gaming machines and users
• CPC Class Codes: G07F 17/3258 Cumulative reward schemes, e.g. jackpots
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

An improved method for allowing players to make pari-mutuel wagers on previously-run, order-of-finish contests (PROOFCs) includes the steps of enabling the operator of a pari-mutuel wagering enterprise to: (1) access the database of race conditions pertaining to each of the PROOFCs and assemble a specified collection of PROOFCs upon which a player may elect to wager or not wager on a specific PROOFC, (2) select the number of contestants and the race conditions applicable to each of the PROOFCs so as to yield a wagering experience for the player (with sufficiently variable results and an acceptable financial return on the player'"'"'s wagers) that makes it likely the player will again use this improved method of wagering, and wherein the wagering is conducted such that whether a player'"'"'s selection is determined to be a winner depends on the performance of the selected contestant.

Claims

1. A process for allowing a plurality of players to form a pari-mutuel pool, by making pari-mutuel wagers on previously-run, order-of-finish contests (PROOFCs), each of which has a specified race condition, a plurality of contestants and an order-of-finish result, and wherein for each of a plurality of rounds of said wagering on said PROOFCs, a first player of the plurality of players is required to make contestant selection choices and place wagers of a defined monetary amount from a balance of funds available to said first player, from which an appropriate payout is made to said first player whose contestant selections are correct and wherein a controlled wagering experience is provided that results in a specifiable average wagering variability and a specifiable financial return on the wagers of said players, said process comprising the steps of:

providing a networked totalisator including a processor and a first memory device configured to store totalisator control software, executable by said processor;

providing a plurality of networked wagering terminals, each of the wagering terminals including a display device configured to display a screen interface, a terminal processor, and a second memory device configured to store terminal control software, executable by the terminal processor;

providing a database of said race conditions, the number of said plurality of contestants, and the order-of-finish results applicable to each of said PROOFCs;

wherein said terminal control software and said totalisator control software include instructions that cause said networked wagering terminals to;

(a) provide to each of said players a PROOFC on which said player may wager, (b) establish a terminal-specified, pari-mutuel pool on which each of said players may wager, (c) receive from each of said players said contestant selection choices and said wagers, (d) display to each of said players a pertinent PROOFC order-of-finish result and said appropriate payout applicable to said contestant selection choices of said player, and (e) dispense, from said pari-mutuel pool, said appropriate payouts to each of said players; and

wherein said terminal control software and said totalisator control software further include instructions that cause said networked wagering terminals to provide said players with the ability to configure and customize the appearance and operation of said screen interfaces of the networked terminals being used by said players, wherein said customization includes providing said players with options including;

(a) configuring said screen interface so as to select between a traditional or a graphically-entertaining interface, (b) electively placing a wager on one of said PROOFCs, (c) wagering in an additional, optional pool, rather than solely in a mandatory pool, (d) electively viewing said race conditions pertaining to a specific PROOFC, (e) personally handicapping a specific PROOFC on which said players are considering placing a wager, and (f) utilizing a third-party handicapping tool to assist said players in handicapping a PROOFC.

2. The process as recited in claim 1, wherein:

said terminal control software further includes instructions that cause said networked wagering terminals to randomize an order of a sequence in which said PROOFCs are offered by said system to said first player for wagering.

3. The process as recited in claim 2, wherein:

said terminal control software further includes instructions that cause said networked wagering terminals to provide for an occasional and random reshuffling of an order of a sequence in which said PROOFCs are offered by said system to said first player for wagering.

4. The process as recited in claim 3, further comprising the step of:

providing a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

5. The process as recited in claim 4, further comprising the step of:

providing a mathematical formula, stored in said first memory device, configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable financial return on the wagers of said players.

6. The process as recited in claim 5, wherein:

said average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said financial return on the wagers of said first player for said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

7. The process as recited in claim 2, further comprising the step of:

providing a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

8. The process as recited in claim 7, further comprising the step of:

providing a mathematical formula, stored in said first memory device, configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable financial return on the wagers of said players.

9. The process as recited in claim 7, wherein:

said average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said financial return on the wagers of said first player for said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

10. The process as recited in claim 1, wherein:

said terminal control software further includes instructions that cause said networked wagering terminals to provide for an occasional and random reshuffling of an order of a sequence in which said PROOFCs are offered by said system to said first player for wagering.

11. The process as recited in claim 1, further comprising the step of:

providing a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

12. The process as recited in claim 11, further comprising the step of:

providing a mathematical formula, stored in said first memory device, configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable financial return on the wagers of said players.

13. The process as recited in claim 11, wherein:

said average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said financial return on the wagers of said first player for said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

14. A system for allowing a plurality of players to form a pari-mutuel pool, by making pari-mutuel wagers on previously-run, order-of-finish contests (PROOFCs), each of which has a specified race condition, a plurality of contestants and an order-of-finish result, and wherein for each of a plurality of rounds of said wagering on said PROOFCs, a first player of the plurality of players is required to make contestant selection choices and place wagers of a defined monetary amount from a balance of funds available to said first player, from which an appropriate payout is made to said players whose contestant selections are correct and wherein a controlled wagering experience is provided that results in a specifiable average wagering variability and a specifiable financial return on the wagers of said players, said system comprising:

a networked totalisator including a processor and a first memory device configured to store totalisator control software, executable by said processor;

a plurality of networked wagering terminals, each of the wagering terminals including a display device configure to display a screen interface, a terminal processor, and a second memory device configured to store terminal control software, executable by said terminal processor; and

a database storing said race conditions, the number of said plurality of contestants, and the order-of-finish results applicable to each of said PROOFCs;

wherein said terminal control software and said totalisator control software include instructions that cause said networked wagering terminals to;

(a) provide to each of said players a PROOFC on which said player may wager, (b) establish a terminal-specified, pari-mutuel pool on which each of said players may wager, (c) receive from each of said players said contestant selection choices and said wagers, (d) display to each of said players a pertinent PROOFC order-of-finish result and said appropriate payout applicable to said contestant selection choices of said player, and (e) dispense, from said pari-mutuel pool, said appropriate payouts to each of said players; and

wherein said terminal control software and said totalisator control software further include instructions that cause said networked wagering terminals to provide said players with the ability to configure and customize the appearance and operation of said screen interfaces of the networked terminals being used by said players, wherein said customization includes providing said players with options including;

(a) configuring said screen interface so as to select between a traditional or a graphically-entertaining interface, (b) electively placing a wager on one of said PROOFCs, (c) wagering in an additional, optional pool, rather than solely in a mandatory pool, (d) electively viewing said race conditions pertaining to a specific PROOFC, (e) personally handicapping a specific PROOFC on which said players are considering placing a wager, and (f) utilizing a third-party handicapping tool to assist said players in handicapping a PROOFC.

15. The system as recited in claim 14, wherein

said terminal control software further includes instructions that cause said networked wagering terminals to randomize an order of a sequence in which said PROOFCs are offered by said system to said first player for wagering.

16. The system as recited in claim 15, wherein

said terminal control software further includes instructions that cause said networked wagering terminals to provide for an occasional and random reshuffling of the order of the sequence in which said PROOFCs are offered by said system to said first player for wagering.

17. The system as recited in claim 16, further comprising:

said database further stores a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

18. The system as recited in claim 17, wherein

said first memory device further stores a mathematical formula configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable financial return on the wagers of said players.

19. The system as recited in claim 18, wherein:

said specifiable average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said specifiable financial return on the wagers of said first player for said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

20. The system as recited in claim 15, further comprising:

said database further stores a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

21. The system as recited in claim 20, wherein

said first memory device further stores a mathematical formula configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable financial return on the wagers of said players.

22. The system as recited in claim 14, wherein

said terminal control software further includes instructions that cause said networked wagering terminals to provide for an occasional and random reshuffling of the order of the sequence in which said PROOFCs are offered by said system to said first player for wagering.

23. The system as recited in claim 14, wherein:

said database further stores a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

24. The system as recited in claim 23, wherein

said first memory device further stores a mathematical formula configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable financial return on the wagers of said players.

25. The system as recited in claim 24, wherein:

said specifiable average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said specifiable financial return on the wagers of said first player for said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

26. The system as recited in claim 23, wherein:

said specifiable average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said specifiable financial return on the wagers of said first player for said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

27. A non-transitory, computer-readable medium storing instructions that, when executed causes a network that includes a totalisator and a plurality of wagering terminals to allow a plurality of players to form a pari-mutuel pool, by making pari-mutuel wagers on previously-run, order-of-finish contests (PROOFCs), each of which has a specified race condition, a plurality of contestants and an order-of-finish result, and wherein for each of a plurality of rounds of said wagering on said PROOFCs, a first player of the plurality of players is required to make contestant selection choices and place wagers of a defined monetary amount from a balance of funds available to said first player, from which an appropriate payout is made to said first player whose contestant selections are correct and wherein a controlled wagering experience is provided that results in a specifiable average wagering variability and a specifiable financial return on the wagers of said first player, said instructions on said medium comprising the steps of enabling said network to:

utilize a database of said race conditions, the number of said plurality of contestants, and the order-of-finish results applicable to each of said PROOFCs,

wherein said networked totalisator including a processor and a first memory device configure to store totalisator control software, executable by said processor;

wherein said plurality of networked wagering terminals, each of the wagering terminals including a display device configured to display a screen interface, a terminal processor, and a second memory device configured to store terminal control software, executable by said terminal processor;

utilize said terminal control software and said totalisator control software to cause said networked wagering terminals to;

(a) provide to each of said players a PROOFC on which said player may wager, (b) establish a terminal-specified, pari-mutuel pool on which each of said players may wager, (c) receive from each of said players said contestant selection choices and said wagers, (d) display to each of said players a pertinent PROOFC order-of-finish result and said appropriate payout applicable to said contestant selection choices of said players, and (e) dispense, from said pari-mutuel pool, said appropriate payouts to each of said players; and

further utilize said terminal control software and said totalisator control software to cause said networked wagering terminals to provide said players with the ability to configure and customize the appearance and operation of said screen interfaces of the networked terminals being used by said players, wherein said customization includes providing said players with options including;

(a) configuring said screen interface so as to select between a traditional or a graphically-entertaining interface, (b) electively placing a wager on one of said PROOFCs, (c) wagering in an additional, optional pool, rather than solely in a mandatory pool, (d) electively viewing said race conditions pertaining to a specific PROOFC, (e) personally handicapping a specific PROOFC on which said players are considering placing a wager, and (f) utilizing a third-party handicapping tool to assist said players in handicapping a PROOFC.

28. The non-transitory, computer-readable medium storing instructions as recited in claim 27, said instructions further comprising the steps of enabling said network to:

utilize said terminal control software and said totalisator control software to cause said networked wagering terminals to randomize an order of a sequence in which said PROOFCs are offered by said network to said first player for wagering.

29. The non-transitory, computer-readable medium storing instructions as recited in claim 28, said instructions further comprising the steps of enabling said network to:

utilize said terminal and totalisator control software to cause said networked wagering terminals to provide for an occasional and random reshuffling of an order of a sequence in which said PROOFCs are offered by said network to said first player for wagering.

30. The non-transitory, computer-readable medium storing instructions as recited in claim 29, said instructions further comprising the steps of enabling said network to:

assemble a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

31. The non-transitory, computer-readable medium storing instructions as recited in claim 30, said instructions further comprising the steps of enabling said network to:

utilize a mathematical formula, store in said first memory device, configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable, financial return on the wagers of said players.

32. The non-transitory, computer-readable medium storing instructions as recited in claim 31, wherein:

said specifiable average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said specifiable financial return on the wagers of said first player when wagering on said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

33. The non-transitory, computer-readable medium storing instructions as recited in claim 30, wherein:

said specifiable average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said specifiable financial return on the wagers of said first player when wagering on said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

34. The non-transitory, computer-readable medium storing instructions as recited in claim 28, said instructions further comprising the steps of enabling said network to:

assemble a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

35. The non-transitory, computer-readable medium storing instructions as recited in claim 34, said instructions further comprising the steps of enabling said network to:

utilize a mathematical formula, store in said first memory device, configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable, financial return on the wagers of said players.

36. The non-transitory, computer-readable medium storing instructions as recited in claim 34, wherein:

said specifiable average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said specifiable financial return on the wagers of said first player when wagering on said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.

37. The non-transitory, computer-readable medium storing instructions as recited in claim 27, said instructions further comprising the steps of enabling said network to:

utilize said terminal and totalisator control software to cause said networked wagering terminals to provide for an occasional and random reshuffling of an order of a sequence in which said PROOFCs are offered by said network to said first player for wagering.

38. The non-transitory, computer-readable medium storing instructions as recited in claim 27, said instructions further comprising the steps of enabling said network to:

assemble a collection of said PROOFCs that yields said controlled wagering experience for said players which is defined as having said average variability of the wagering results achieved by said players for said collection and said financial return on the wagers of said players when wagering on said collection that are both within a range of acceptable values.

39. The non-transitory, computer-readable medium storing instructions as recited in claim 38, said instructions further comprising the steps of enabling said network to:

utilize a mathematical formula, store in said first memory device, configured to predict, based on the race conditions and the number of said plurality of contestants in each of said PROOFCs in said collection, said specifiable average wagering variability and said specifiable financial return on the wagers of said players.

40. The non-transitory, computer-readable medium storing instructions as recited in claim 38, wherein:

said specifiable average wagering variability achieved by said first player for said collection is in the range of 50%-200% of $X,

said specifiable financial return on the wagers of said first player when wagering on said collection is in the range of 6%-25% of $X per round, and

wherein $X is defined to be the average amount being wagered per round by said first player.