Apparatus for pari-mutuel racing game with finish order betting

• US 9,652,926 B2
• Filed: 10/08/2007
• Issued: 05/16/2017
• Est. Priority Date: 10/06/2006
• Status: Active Grant

• Current Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Original Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Inventors: Alderucci, Dean P., Gelman, Geoffrey M.
• Primary Examiner(s): Shah, Milap
• Application Number:
  US11/868,673
• Publication Number:
  US 20080227532A1
• Time in Patent Office: 3,508 Days
• Field of Search: 463 28, 463 6, 463 1, 463 16- 20, 463 25, 463 29- 31, 463 40- 43, 273139
• CPC Class Codes: A61B 5/1038 Measuring plantar pressure during gait
• CPC Class Codes: G01G 17/08 for weighing livestock
• CPC Class Codes: G01G 19/414 using electronic computing means only
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3248 involving non-monetary media of fixed value, e.g. casino chips of fixed value
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

In various embodiments, a device may test the health of race participants in order to ensure the fairness of a bet on an order of finish.

Claims

1. An apparatus comprising:

at least one processor; and

at least one tangible memory device having software stored thereon that when executed by the at least one processor directs the at least one processor to;

receive via a communications network a plurality of inputs comprising bets that a plurality of participants will win a race;

determine, based at least on the plurality of received bets and a weight measurement of each participant, payoff odds for each of the plurality of participants, in which the participant with a lowest payoff odds is a favored participant to win the race, the participant with a next lowest payoff odds is a next favored participant to win the race, and the participant with a highest payoff odds is a least favored participant to win the race;

determine, based at least on the payoff odds, a potential order in which all participants in the race might finish the race, in which the potential order includes the favored participant finishing the race first, the next favored participant finishing the race second, and the least favored participant finishing the race last;

receive a reverse-order-bet that all participants in the race will finish the race in an order that is a reverse order of the determined potential order, in which the reverse order includes the least favored participant finishing the race first, the next favored participant finishing the race second to last, and the favored participant finishing the race last;

based on results of the race received via a communications network, determine an actual order in which the plurality of participants finished the race;

based on the actual order in which the plurality of participants finished the race, determine whether the reverse order transpired; and

determine a payment amount based on and whether the reverse order transpired.

2. The apparatus of claim 1,

in which to receive the plurality of bets includes to receive a first set of bets for a first of the plurality of participants to win the race and to receive a second set of bets for a second of the plurality of participants to win the race;

in which the second set of bets have a total that is less than a total of the first set of bets; and

in which to determine the potential order includes to determine an order such that the first participant will finish the race before the second participant.

3. The apparatus of claim 1, in which the race comprises a horse race.

4. The apparatus of claim 1, in which the plurality of participants in the race include one of:

(a) horses, (b) dogs, (c) cars, (d) camels, (e) sail boats, (f) people, (g) runners, (h) cyclists, (i) swimmers, (j) boats, and (k) computer generated characters.

5. The apparatus of claim 1, in which the the at least one processor is further configured to render an indication of a size of a fixed prize pool on a display device.

6. The apparatus of claim 1, in which to offer the reverse-order-bet includes to offer one million dollars to be divided among all bettors who successfully bet that the reverse order will transpire.

7. The apparatus of claim 1, in which to determine the potential order includes to determine an order such that the lower a total of bets placed on a given participant, the later the given participant will finish the race.

8. The apparatus of claim 1, in which the software, when executed by the at least one processor, further directs the at least one processor to cause to be displayed an indication of the reverse order.

9. The apparatus of claim 8, in which the reverse order includes twelve participants.

10. The apparatus of claim 1, in which to determine the payment amount the at least one processor is configured to:

determine a number of received reverse-order-bets that were successful;

divide a fixed prize pool by a number of received total bets to generate a number of substantially equal portions of the fixed prize pool; and

determine that at least one payment is one of the number of portions.

11. The apparatus of claim 1, in which a predetermined threshold is seven.

12. The apparatus of claim 1, in which the reverse-order-bet is offered if a number of participants in the race exceeds a predetermined threshold.

13. The apparatus of claim 1, in which the determined payment amount to the at least one bettor is at least a portion of a fixed prize pool.

14. A method comprising:

receiving, via a communications network by at least one processor, for each of a plurality of participants in a race, a plurality of bets that the participant will win the race;

determining, by at least one processor, based on a plurality of received bets, payoff odds for each of the plurality of participants, in which the participant with a lowest payoff odds is a favored participant to win the race, the participant with a next lowest payoff odds is a next favored participant to win the race, and the participant with a highest payoff odds is a least favored participant to win the race;

determining by the at least one processor, based at least on the payoff odds a potential order in which all participants in the race might finish the race, in which the potential order includes the favored participant finishing the race first, the next favored participant finishing the race second, and the least favored participant finishing the race last;

receiving, by the at least one processor, at least one reverse-order-bet that all participants in the race will finish the race in an order that is a reverse order of the determined potential order, in which the reverse order includes the least favored participant finishing the race first, the next favored participant finishing the race second to last, and the favored participant finishing the race last;

based at least on results of the race received via a communication network, determining, by the at least one processor, an actual order in which the plurality of participants finished the race;

based at least on the actual order in which the plurality of participants finished the race, determining by the at least one processor whether the reverse order transpired; and

determining, by the at least one processor, a payment amount based at least on whether the reverse order transpired.

15. The method of claim 14, in which the race comprises a horse race.

16. The method of claim 14, further comprising displaying, by the at least one processor, an indication of the reverse order.

17. The method of claim 14, in which the determined payment amount is at least a portion of a fixed prize pool.

18. The method of claim 17, in which determining the payment amount further comprises determining, by the at least one processor, a number of successful reverse-order bets;

dividing, by the at least one processor, the fixed prize pool by a number of total bets to generate a number of substantially equal portions of the fixed prize pool; and

determining, by the at least one processor, that the payment is one of the number of portions.