Managing bets that select events and participants

• US 10,229,553 B2
• Filed: 08/03/2015
• Issued: 03/12/2019
• Est. Priority Date: 02/03/2004
• Status: Active Grant

• Current Assignee: Cantor Index LLC
• Original Assignee: Cantor Index LLC
• Inventors: Asher, Joseph M., Miller, Kenneth L.
• Primary Examiner(s): Ahmed, Masud
• Application Number:
  US14/816,562
• Publication Number:
  US 20160098893A1
• Time in Patent Office: 1,317 Days
• Field of Search: 273139, 463 42, 463 25
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 17/3223 Architectural aspects of a gaming system, e.g. internal configuration, master/slave, wireless communication
• CPC Class Codes: G07F 17/3258 Cumulative reward schemes, e.g. jackpots
• CPC Class Codes: G07F 17/3272 Games involving multiple players
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A method of managing bets is provided. The method includes receiving one or more bets. Each bet comprises a selection of a first number of events selected from a group of events, a selection of a respective participant for each of the first number of events selected and a bet amount. The method also includes combining each bet amount to form a betting pool and determining an amount of a total payout based at least in part on the betting pool.

Claims

1. A non-tangible machine-readable medium having instructions stored thereon which are configured to, when executed by at least one processor of at least one computer in electronic communication with at least one other computer via an electronic communications network, direct the at least one processor to:

receive at least one electronic message comprising a plurality of group bets from a plurality of bettors, each group bet being received from one of the plurality of bettors via a computing device in networked communication with the at least one processor, each group bet comprising;

plurality of events selected from among a group of events offered by a sponsor of the group bets, each event having a plurality of participants;

a respective participant selected for each of the plurality of events selected for the group bet; and

a bet amount;

combine the amounts of the group bets of the plurality to form a betting pool, in which the act of combining the amounts of the group bets comprises combining amounts of different bets having different selected combinations of events and different selected participants from each other that are pooled together in the betting pool, in which the act of combining the amounts to form a betting pool comprises causing data representing the combined amounts to be stored in a database in electronic communication with the at least one processor; and

compute an amount of a payout for one or more winning group bets of the plurality based at least in part on the combined amounts of the bets in the betting pool;

generate commands to render the amount of payout to a remote display in communication with a display interface of a self-service machine via a remote electronic track interface system; and

determine whether to generate electronic signals to cause a physical dispense of the amount of the payout at a physical dispense payment interface in communication with the self-service machine via the remote electronic track interface system.

2. The non-transitory machine-readable medium of claim 1, in which the instructions are further configured to, when executed, direct the at least one processor to:

receive results of the group of events, the results identifying a winning participant for each event of the group of events; and

determine one or more winning group bets of the plurality of group bets based at least in part on the results,

in which for each group bet, the selected plurality of events is selected from among a group of events by a respective one of the plurality of bettors.

3. The non-transitory machine-readable medium of claim 2, wherein:

a rule for determining a payout to a winning group bet is based at least in part on whether at least some of the selected respective participants selected in a respective group bet correspond to a winning participant for each of the plurality of events selected in the respective group bet and the respective group bet of the plurality of group bets includes a winning participant of a specified event.

4. The non-transitory machine-readable medium of claim 2, wherein:

a rule for determining a payout to a winning group bet is based at least in part on whether at least some of the selected respective participants selected in a respective group bet correspond to a winning participant for each of the plurality of events selected in the respective group bet and the respective group bet amount is at least as high as a specified amount.

5. The non-transitory machine-readable medium of claim 2, wherein:

a rule for determining a payout to a winning group bet is based at least in part on whether at least some of the selected respective participants selected in a respective group bet correspond to a winning participant for each of the plurality of events selected in the respective group bet and the selected respective participants of the respective group bet comprise participants having specified odds.

6. The non-transitory machine-readable medium of claim 2, in which the instructions are further configured to, when executed, direct the at least one processor to:

increasing a payout for a first winning group bet of the one or more winning group bets relative to a pari-mutuel payout for the winning participant of the event of the first winning group bet, the increase being based at least in part on the relative odds among the winning participants of the winning group bets in the pool.

7. The non-transitory machine-readable medium of claim 6, wherein determining an amount to be paid for each winning group bet is further based on the odds of the selected respective participants of each winning bet.

8. The non-transitory machine-readable medium of claim 2, in which the instructions are further configured to, when executed, direct the at least one processor to:

increase a payout for a first winning group bet of the one or more winning group bets relative to a pari-mutuel payout for the winning participant of the event of the first winning group bet, the increase being based at least in part on the relative amount bet on the events in the pool.

9. The non-transitory machine-readable medium of claim 2, in which the instructions are further configured to, when executed, direct the at least one processor to:

increase a payout for a first winning group bet of the one or more winning group bets relative to a pari-mutuel payout for only the bets on the same event as the first winning bet, the increase being based at least in part on the first winning group bet'"'"'s selected respective participants for each of the respective selected plurality of events each having specified odds.

10. The non-transitory machine-readable medium of claim 2, in which the instructions are further configured to, when executed, direct the at least one processor to:

increase a payout for a first winning group bet of the one or more winning group bets relative to a pari-mutuel payout for the winning participant of the event of the first winning group bet, the increase being based at least in part on a selection of the first winning group bets'"'"' event for a bonus, the selection being known to bettors while group bets are received.

11. The non-transitory machine-readable medium of claim 2, in which the instructions are further configured to, when executed, direct the at least one processor to:

increase a payout for a first winning group bet of the one or more winning bets relative to a pari-mutuel payout for the winning participant of the event of the first winning group bet, the increase being based at least in part on a selection of the first winning group bets'"'"' event for a bonus, the selection occurring after group bets are received.

12. The non-transitory machine-readable medium of claim 1,

wherein determining an amount of a total payout based at least in part on the betting pool comprises adding to the betting pool a carryover amount from a previous betting pool, and

wherein for at least one of the plurality of group bets, the respective selected plurality of events comprises events held on different days.

13. The non-transitory machine-readable medium of claim 1, in which the instructions are further configured to, when executed, direct the at least one processor to:

receive results of the group of events, the results identifying a winning participant for each event of the group of events;

determine whether there are any winning group bets based at least in part on determining, for each of the plurality of group bets, if each respective selected participant corresponds to the winning participant for each of the respective plurality of events selected in the respective group bet; and

determine a carryover amount to carry over to a future total payout if there are no winning group bets.

14. The non-transitory machine-readable medium of claim 1, in which the instructions are further configured to, when executed, direct the at least one processor to:

cancel at least one event of the group of events;

receive results of the group of events, the results identifying a winning participant for at least one event of the group of events; and

determine one or more winning group bets by determining for each of the plurality of group bets if at least one of the selected respective participants corresponds to the winning participant for at least one of the plurality of events selected in the group bet,

wherein, for at least one of the plurality of group bets, the respective selected of events comprises horse racing events held at different tracks.

15. The non-transitory machine-readable medium of claim 1, wherein, for at least one of the plurality of group bets, the respective selected plurality of events comprises two or more events selected from the group consisting of horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic or other sporting events.

16. The non-transitory machine-readable medium of claim 15,

wherein, for at least one of the plurality of group bets, the respective selected plurality of events comprises at least one horse racing event and at least one football event, and

in which the instructions are further configured to, when executed, direct the at least one processor to:

stipulate an adjustment parameter that provides a bonus to the plurality of group bets upon satisfaction of the adjustment parameter.

17. The non-transitory machine-readable medium of claim 15, wherein the plurality of events comprises at least one football event and at least one basketball event.

18. The non-transitory machine-readable medium of claim 15, wherein, for at least one of the plurality of group bets, the respective selected plurality of events comprises:

a first event selected from events from the group consisting of a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event; and

a second event selected from events from the group consisting of a horse racing, dog racing, basketball, football, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic, political or entertainment event,

wherein the first event and the second event comprise different types of events.

19. A non-transitory machine-readable medium having instructions stored thereon which are configured to, when executed by at least one processor of at least one computer in electronic communication with at least one other computer via an electronic communications network, direct the at least one processor to:

receive at least one electronic message comprising a plurality of bets, in which bet is received via a computing device in networked communication with the at least one processor, each bet comprising;

a set of events selected from a group of events;

a selected participant for each event of the set of events selected; and

a bet amount;

combine each bet amount to form a betting pool, in which the act of combining each amount to form a betting pool comprises causing data representing the combined bet amounts to be stored in a database in electronic communication with the at least one processor;

determine an amount of a total payout based at least in part on the betting pool;

receive via an electronic interface electronic data indicating results of the group of events, the results identifying a winning participant for each event of the group of events;

determine one or more winning bets of the plurality of bets by determining, for each of the plurality of bets, if each selected respective participant of the respective bet corresponds to the winning participant for each event of the respective set of events selected in the respective bet;

determine an amount to be paid for a winning bet of the one or more winning bets based on the determined one or more winning bets, the amount of the total payout, and the bet amount of the winning bet;

causing the amount to be paid to a holder of the winning bet;

generate commands to render the amount of payout to a remote display in communication with a display interface of a self-service machine via a remote electronic track interface system; and

determine whether to generate electronic signals to cause a physical dispense of the amount of the payout at a physical dispense payment interface in communication with the self-service machine via the remote electronic track interface system.

20. A non-transitory machine-readable medium having instructions stored thereon which are configured to, when executed by at least one processor of at least one computer in electronic communication with at least one other computer via an electronic communications network, direct the at least one processor to:

accept from a user a group bet that selects an event and outcome of the event on which to bet, each event available for betting having a plurality of participants, the outcome of the event depending on the performance of the participants, the group bet being input via a computer entry device;

transmit an electronic message comprising information about the group bet, in which the act of transmitting the electronic message comprises forwarding the group bet for assembly of a plurality of group bets from a plurality of users into a betting pool, each group bet in the plurality including a designation of an event and an amount, the plurality of group bets in the betting pool including group bets on a plurality of distinct events such that at least one of the plurality of distinct events is selected in one of the plurality of group bets and not selected in another of the plurality of group bets, the betting pool to be processed by a processor to determine a payout for one or more winning group bets of the plurality based on the outcomes of at least two events designated by group bets in the betting pool,

in which information about the betting pool is stored in a database in electronic communication with the at least one processor,

generate commands to render the amount of payout to a remote display in communication with a display interface of a self-service machine via a remote electronic track interface system; and

determine whether to generate electronic signals to cause a physical dispense of the amount of the payout at a physical dispense payment interface in communication with the self-service machine via the remote electronic track interface system.