System and method for pari-mutuel gaming based on sporting event results

• US 20050245305A1
• Filed: 04/29/2004
• Published: 11/03/2005
• Est. Priority Date: 04/29/2004
• Status: Active Grant

• Current Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Original Assignee: CFPH LLC (Cantor Fitzgerald, L.P.)
• Inventors: Lutnick, Howard W., Asher, Joseph M.
• Granted Patent: US 7,458,891 B2
• Time in Patent Office: Days
• US Class Current: 463/16
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• 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

A method of pari-mutuel betting is provided. Bets regarding the result of a game, such as a casino game for example, are received from a number of users. Each bet has a unit stake. One or more inputs for the game are determined based on event results from a sporting event. A result of the game is determined for a particular bet based at least on a set of rules associated with the game and the one or more determined inputs. If the particular bet is determined to be a winning bet based on the result of the game for the particular bet, a payout is determined for the particular bet based at least on the unit stake associated with the particular bet and the value of the pari-mutuel wager pool that includes at least a portion of the total of the unit stakes of the plurality of received bets.

Claims

1. A method of pari-mutuel gaming, comprising:

receiving a plurality of bets regarding the result of a game for each of a plurality of users, wherein each bet has an associated unit stake and wherein the result of the game for each user is based on a set of rules and one or more inputs;

assigning each received bet to one of a plurality of sporting events, each sporting event corresponding to one of a plurality of pari-mutuel wager pools; and

for a particular sporting event corresponding to a particular one of the plurality of pari-mutuel wager pools;

determining the value of the particular pari-mutuel wager pool, the value comprising at least a portion of the total of the unit stakes of the received bets assigned to the particular sporting event;

for each received bet assigned to the particular sporting event, determining one or more inputs for the game based on event results from the particular sporting event;

for each received bet assigned to the particular sporting event, determining a result of the game based at least on the set of rules and the one or more determined inputs for that bet;

for each received bet assigned to the particular sporting event, determining whether the bet is a winning bet based on the result of the game for that bet; and

for each determined winning bet, determining an amount of a payout based at least on the unit stake associated with that bet, the total unit stake associated with all determined winning bets, and the value of the particular pari-mutuel wager pool for the particular sporting event.

2. The method of claim 1, wherein the game comprises one of the following casino games:

craps;

blackjack;

roulette;

slots;

keno;

baccarat;

war;

money wheel; and

poker.

3. The method of claim 1, wherein:

the particular sporting event comprises a race event having a plurality of participants; and

the event results comprise the finishing position of at least one of the plurality of participants in the race event.

4. The method of claim 1, wherein each pari-mutuel wager pool is hosted by one of a plurality of pool hosts.

5. The method of claim 4, wherein each of one or more of the plurality of pool hosts comprises a different sporting event location.

6. The method of claim 3, wherein the race event comprises a horse race.

7. The method of claim 3, wherein the race event comprises a dog race.

8. The method of claim 3, wherein the race event comprises a jai alai game.

9. The method of claim 3, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises craps; and

determining one or more inputs for the game for each bet comprises determining a simulated die roll based on the numerical identifier of one or more participants finishing in one or more particular positions.

10. The method of claim 3, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises a card game; and

determining one or more inputs for the game for each bet comprises determining the value of one or more simulated cards based on the numerical identifier of one or more participants finishing in one or more particular positions.

11. The method of claim 3, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises roulette; and

determining one or more inputs for the game for each bet comprises determining a result of a simulated roulette spin based on the numerical identifier of one or more participants finishing in one or more particular positions.

12. The method of claim 3, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises slots; and

determining one or more inputs for the game for each bet comprises determining a result of a simulated spin of a slot machine based on the numerical identifiers of each of a plurality of participants finishing in a plurality of particular positions.

13. The method of claim 1, wherein determining one or more inputs for the game for a particular one of the bets assigned to the particular sporting event comprises determining one or more inputs for the game for the particular bet based on event results from the particular sporting event and one or more bet parameters associated with the particular bet.

14. The method of claim 13, wherein the one or more bet parameters associated with the particular bet are selected by the user from whom the particular bet is received.

15. The method of claim 13, wherein the one or more bet parameters associated with the particular bet are determined randomly.

16. The method of claim 13, wherein:

the particular sporting event comprises a race event having a plurality of participants;

each of the participants in the race event has a numerical identifier;

the one or more bet parameters associated with the particular bet comprise an indication of one or more finishing positions in the race event;

the event results comprise the numerical identifier of the participant finishing in one or more finishing positions in the race event; and

determining the one or more inputs for the game for the particular bet comprises determining based on the event results the participant that finished in each of the one or more finishing positions indicated by the one or more bet parameters associated with the particular bet.

17. The method of claim 1, wherein determining the value of the particular pari-mutuel wager pool for a particular race event comprises at least adding the total of the unit stakes of the received bets assigned to the particular race event with a carryover wager pool, at least a portion of the carryover wager pool comprising the unit stakes of bets that were assigned to a race event prior to the particular race event but carried over to the particular race event.

18. The method of claim 1, further comprising:

for each bet assigned to the particular sporting event, determining whether the bet is a push;

for each determined push, including the unit stake associated with the push in a carryover wager pool; and

including the carryover wager pool in the pari-mutuel wager pool for a subsequent sporting event corresponding to the particular pari-mutuel wager pool.

19. The method of claim 1, further comprising for each bet assigned to the particular sporting event, determining whether the bet is a losing bet based on the result of the game for that bet, and if the bet is determined a losing bet, determining a zero payout for that bet.

20. The method of claim 1, wherein the particular pari-mutuel wager pool is closed before the beginning of the particular sporting event such that no bets are assigned to the particular sporting event after the beginning of the particular sporting event.

21. The method of claim 1, wherein the particular pari-mutuel wager pool remains open during at least a portion of the occurrence of the sporting event such that unit stakes of one or more bets may be assigned to the particular pari-mutuel wager pool during the at least a portion of the occurrence of the sporting event.

22. The method of claim 1, further comprising communicating to a client from which a particular bet assigned to the particular sporting event was received an indication of the progress of the particular sporting event.

23. The method of claim 22, wherein communicating to the client an indication of the progress of the particular sporting event comprises communicating to the client streaming video of the particular sporting event.

24. The method of claim 23, wherein the streaming video of the particular sporting event is communicated to the client substantially in real time.

25. The method of claim 1, wherein the identity of the particular sporting event to which a user'"'"'s bet is assigned is not made available to the user before the bet is received from the user.

26. A method of pari-mutuel gaming, comprising:

receiving a plurality of bets regarding the result of a game for each of a plurality of users, wherein each bet has an associated unit stake and wherein the result of the game for each user is based on a set of rules and one or more inputs;

determining one or more inputs for the game based on event results from a sporting event;

determining a result of the game for a particular bet received from a particular user based at least on the set of rules and the one or more determined inputs;

determining whether the particular bet is a winning bet based on the result of the game for the particular bet; and

if the particular bet is determined a winning bet, determining an amount of a payout for the particular bet based at least on the unit stake associated with the particular bet and the value of a pari-mutuel wager pool, the value of the pari-mutuel wager pool comprising at least a portion of the total of the unit stakes of the plurality of received bets.

27. The method of claim 26, wherein the game comprises one of the following casino games:

craps;

blackjack;

roulette;

slots;

keno;

baccarat;

war;

money wheel; and

poker.

28. The method of claim 26, wherein:

the sporting event comprises a race event having a plurality of participants; and

the event results comprise the finishing position of at least one of the plurality of participants in the race event.

29. The method of claim 28, wherein the race event comprises a horse race and the plurality of participants comprises a plurality of horses in the horse race.

30. The method of claim 28, wherein the race event comprises a dog race and the plurality of participants comprises a plurality of dogs in the dog race.

31. The method of claim 28, wherein the race event comprises a jai alai game.

32. The method of claim 28, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises craps; and

determining one or more inputs for the game based on the results of the race event comprises determining a simulated die roll based on the numerical identifier of one or more participants finishing in one or more particular positions.

33. The method of claim 28, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises a card game; and

determining one or more inputs for the game based on the results of the race event comprises determining the value of one or more simulated cards based on the numerical identifier of one or more participants finishing in one or more particular positions.

34. The method of claim 28, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises roulette; and

determining one or more inputs for the game based on the results of the race event comprises determining a result of a simulated roulette spin based on the numerical identifier of one or more participants finishing in one or more particular positions.

35. The method of claim 28, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises slots; and

determining one or more inputs for the game based on the results of the race event comprises determining a result of a simulated spin of a slot machine based on the numerical identifiers of each of a plurality of participants finishing in a plurality of particular positions.

36. The method of claim 26, wherein determining one or more inputs for the game based on event results from a sporting event comprises determining one or more inputs for the game for the particular bet based on event results from the sporting event and one or more bet parameters associated with the particular bet.

37. The method of claim 36, wherein the one or more bet parameters associated with the particular bet are selected by the particular user.

38. The method of claim 36, wherein the one or more bet parameters associated with the particular bet are determined randomly.

39. The method of claim 36, wherein:

the sporting event comprises a race event having a plurality of participants;

each of the participants in the race event has a numerical identifier;

the one or more bet parameters associated with the particular bet comprise an indication of one or more finishing positions in the race event;

the event results comprise the numerical identifier of the participant finishing in one or more finishing positions in the race event; and

determining the one or more inputs for the game comprises determining based on the event results the participant that finished in each of the one or more finishing positions indicated by the one or more bet parameters associated with the particular bet.

40. The method of claim 26, further comprising:

determining whether the particular bet is a losing bet based on the result of the game for that bet; and

if the bet is determined a losing bet, determining a zero payout for the particular bet.

41. The method of claim 26, wherein the pari-mutuel wager pool is closed before the beginning of the sporting event.

42. The method of claim 26, wherein the pari-mutuel wager pool remains open during at least a portion of the occurrence of the sporting event such that unit stakes of one or more bets may be assigned to the pari-mutuel wager pool during the at least a portion of the occurrence of the sporting event.

43. The method of claim 26, further comprising communicating to a client associated with the particular user an indication of the progress of the sporting event.

44. The method of claim 43, wherein communicating to a client associated with the particular user an indication of the progress of the sporting event comprises communicating to the client streaming video of the sporting event.

45. The method of claim 44, wherein the streaming video of the sporting event is communicated to the client substantially in real time.

46. The method of claim 26, wherein:

the sporting event comprises a particular one of a plurality of race events; and

the identity of the particular race event is not made available to the particular user before the particular bet is received from the particular user.

47. The method of claim 26, further comprising:

determining whether the particular bet is a push based on the result of the game for the particular bet; and

if the particular bet is determined a push;

including the unit stake associated with the particular bet in a carryover wager pool; and

determining an updated value of the pari-mutuel wager pool for a subsequent sporting event, the updated value comprising at least a portion of the total of the unit stakes of a plurality of subsequent bets and the carryover wager pool.

48. The method of claim 26, further comprising:

determining whether the particular bet is a push based on the result of the game for the particular bet; and

if the particular bet is determined a push;

including the unit stake associated with the particular bet in a carryover wager pool;

receiving from each of one or more subsequent users a subsequent bet regarding the result of the game for that user, each subsequent bet having an associated unit stake;

determining an updated value of the pari-mutuel wager pool comprising at least a portion of the total of the unit stakes of the plurality of subsequent bets and the carryover wager pool;

determining one or more subsequent inputs for the game based on event results from a subsequent sporting event;

determining a subsequent result of the game for the particular bet based at least on the set of rules and the one or more determined subsequent inputs;

making a subsequent determination of whether the particular bet is a winning bet based on the subsequent result of the game for the particular bet; and

if the particular bet is a winning bet according to the subsequent determination, determining an amount of a payout for the particular bet based at least on the unit stake associated with the particular bet and the updated value of the parimutuel wager pool.

49. The method of claim 26, further comprising:

for each bet received from the plurality of users;

determining one or more inputs for the game based on event results from the sporting event;

determining a result of the game for that bet based at least on the set of rules and the one or more determined inputs; and

determining whether that bet is a winning bet based on the result of the game for that bet; and

if none of the bets received from the plurality of users are determined winning bets, including the unit stake associated with the particular bet in a subsequent parimutuel wager pool associated with a subsequent sporting event.

50. A system for pari-mutuel gaming, comprising:

a memory operable to store a plurality of bets regarding the result of a game for each of a plurality of users, wherein each bet has an associated unit stake and wherein the result of the game for each user is based on a set of rules and one or more inputs; and

a processor operable to;

assign each received bet to one of a plurality of sporting events, each sporting event corresponding to one of a plurality of pari-mutuel wager pools; and

for a particular sporting event corresponding to a particular one of the plurality of pari-mutuel wager pools;

receive event results from the particular sporting event;

determine the value of the particular pari-mutuel wager pool, the value comprising at least a portion of the total of the unit stakes of the received bets assigned to the particular sporting event;

for each received bet assigned to the particular sporting event, determine one or more inputs for the game based on received event results;

for each received bet assigned to the particular sporting event, determine a result of the game based at least on the set of rules and the one or more determined inputs for that bet;

for each received bet assigned to the particular sporting event, determine whether the bet is a winning bet based on the result of the game for that bet; and

for each determined winning bet, determine an amount of a payout based at least on the unit stake associated with that bet, the total unit stake associated with all determined winning bets, and the value of the particular parimutuel wager pool for the particular sporting event.

51. The system of claim 50, wherein the game comprises one of the following casino games:

craps;

blackjack;

roulette;

slots;

keno;

baccarat;

war;

money wheel; and

poker.

52. The system of claim 50, wherein:

the particular sporting event comprises a race event having a plurality of participants; and

the event results comprise the finishing position of at least one of the plurality of participants in the race event.

53. The system of claim 50, wherein each pari-mutuel wager pool is hosted by one of a plurality of pool hosts.

54. The system of claim 53, wherein each of one or more of the plurality of pool hosts comprises a different sporting event location.

55. The system of claim 52, wherein the race event comprises a horse race.

56. The system of claim 52, wherein the race event comprises a dog race.

57. The system of claim 52, wherein the race event comprises a jai alai game.

58. The system of claim 52, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises craps; and

determining one or more inputs for the game for each bet comprises determining a simulated die roll based on the numerical identifier of one or more participants finishing in one or more particular positions.

59. The system of claim 52, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises a card game; and

determining one or more inputs for the game for each bet comprises determining the value of one or more simulated cards based on the numerical identifier of one or more participants finishing in one or more particular positions.

60. The system of claim 52, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises roulette; and

determining one or more inputs for the game for each bet comprises determining a result of a simulated roulette spin based on the numerical identifier of one or more participants finishing in one or more particular positions.

61. The system of claim 52, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises slots; and

determining one or more inputs for the game for each bet comprises determining a result of a simulated spin of a slot machine based on the numerical identifiers of each of a plurality of participants finishing in a plurality of particular positions.

62. The system of claim 50, wherein determining one or more inputs for the game for a particular one of the bets assigned to the particular sporting event comprises determining one or more inputs for the game for the particular bet based on event results from the particular sporting event and one or more bet parameters associated with the particular bet.

63. The system of claim 62, wherein the one or more bet parameters associated with the particular bet are selected by the user from whom the particular bet is received.

64. The system of claim 62, wherein the one or more bet parameters associated with the particular bet are determined randomly.

65. The system of claim 62, wherein:

the particular sporting event comprises a race event having a plurality of participants;

each of the participants in the race event has a numerical identifier;

the one or more bet parameters associated with the particular bet comprise an indication of one or more finishing positions in the race event;

the event results comprise the numerical identifier of the participant finishing in one or more finishing positions in the race event; and

determining the one or more inputs for the game for the particular bet comprises determining based on the event results the participant that finished in each of the one or more finishing positions indicated by the one or more bet parameters associated with the particular bet.

66. The system of claim 50, wherein determining the value of the particular pari-mutuel wager pool for a particular race event comprises at least adding the total of the unit stakes of the received bets assigned to the particular race event with a carryover wager pool, the carryover wager pool comprising the unit stakes of bets that were assigned to a race event prior to the particular race event but carried over to the particular race event.

67. The system of claim 50, wherein the processor is further operable to:

for each bet assigned to the particular sporting event, determine whether the bet is a push;

for each determined push, include the unit stake associated with the push in a carryover wager pool; and

include the carryover wager pool in the pari-mutuel wager pool for a subsequent sporting event corresponding to the particular pari-mutuel wager pool.

68. The system of claim 50, wherein the processor is further operable to, for each bet assigned to the particular sporting event, determine whether the bet is a losing bet based on the result of the game for that bet, and if the bet is determined a losing bet, determining a zero payout for that bet.

69. The system of claim 50, wherein the processor is further operable to close the particular pari-mutuel wager pool before the beginning of the particular sporting event such that no bets are assigned to the particular sporting event after the beginning of the particular sporting event.

70. The system of claim 50, wherein the particular pari-mutuel wager pool remains open during at least a portion of the occurrence of the sporting event such that processor may assign the unit stakes of one or more bets to the particular parimutuel wager pool during the at least a portion of the occurrence of the sporting event.

71. The system of claim 50, wherein the processor is further operable to communicate to a client from which a particular bet assigned to the particular sporting event was received an indication of the progress of the particular sporting event.

72. The system of claim 71, wherein communicating to the client an indication of the progress of the particular sporting event comprises communicating to the client streaming video of the particular sporting event.

73. The system of claim 72, wherein the streaming video of the particular sporting event is communicated to the client substantially in real time.

74. The system of claim 50, wherein the identity of the particular sporting event to which a user'"'"'s bet is assigned is not made available to the user before the bet is received from the user.

75. A system for pari-mutuel gaming, comprising:

a memory operable to store a plurality of bets regarding the result of a game for each of a plurality of users, wherein each bet has an associated unit stake and wherein the result of the game for each user is based on a set of rules and one or more inputs; and

a processor operable to;

receive event results from a sporting event;

determine one or more inputs for the game based on the received event results;

determine a result of the game for a particular bet received from a particular user based at least on the set of rules and the one or more determined inputs;

determine whether the particular bet is a winning bet based on the result of the game for the particular bet; and

if the particular bet is determined a winning bet, determine an amount of a payout for the particular bet based at least on the unit stake associated with the particular bet and the value of a pari-mutuel wager pool that comprises at least a portion of the total of the unit stakes of the plurality of received bets.

76. The system of claim 75, wherein the game comprises one of the following casino games:

craps;

blackjack;

roulette;

slots;

keno;

baccarat;

war;

money wheel; and

poker.

77. The system of claim 75, wherein:

the sporting event comprises a race event having a plurality of participants; and

the event results comprise the finishing position of at least one of the plurality of participants in the race event.

78. The system of claim 77, wherein the race event comprises a horse race and the plurality of participants comprises a plurality of horses in the horse race.

79. The system of claim 77, wherein the race event comprises a dog race and the plurality of participants comprises a plurality of dogs in the dog race.

80. The system of claim 77, wherein the race event comprises a jai alai game.

81. The system of claim 77, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises craps; and

determining one or more inputs for the game based on the results of the race event comprises determining a simulated die roll based on the numerical identifier of one or more participants finishing in one or more particular positions.

82. The system of claim 77, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises a card game; and

determining one or more inputs for the game based on the results of the race event comprises determining the value of one or more simulated cards based on the numerical identifier of one or more participants finishing in one or more particular positions.

83. The system of claim 77, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises roulette; and

determining one or more inputs for the game based on the results of the race event comprises determining a result of a simulated roulette spin based on the numerical identifier of one or more participants finishing in one or more particular positions.

84. The system of claim 77, wherein:

each of the participants in the race event has a numerical identifier;

the game comprises slots; and

determining one or more inputs for the game based on the results of the race event comprises determining a result of a simulated spin of a slot machine based on the numerical identifiers of each of a plurality of participants finishing in a plurality of particular positions.

85. The system of claim 75, wherein determining one or more inputs for the game based on event results from a sporting event comprises determining one or more inputs for the game for the particular bet based on event results from the sporting event and one or more bet parameters associated with the particular bet.

86. The system of claim 85, wherein the one or more bet parameters associated with the particular bet are selected by the particular user.

87. The system of claim 85, wherein the one or more bet parameters associated with the particular bet are determined randomly.

88. The system of claim 85, wherein:

the sporting event comprises a race event having a plurality of participants;

each of the participants in the race event has a numerical identifier;

the one or more bet parameters associated with the particular bet comprise an indication of one or more finishing positions in the race event;

the event results comprise the numerical identifier of the participant finishing in one or more finishing positions in the race event; and

determining the one or more inputs for the game comprises determining based on the event results the participant that finished in each of the one or more finishing positions indicated by the one or more bet parameters associated with the particular bet.

89. The system of claim 75, wherein the processor is further operable to:

determine whether the particular bet is a losing bet based on the result of the game for that bet; and

if the bet is determined a losing bet, determine a zero payout for the particular bet.

90. The system of claim 75, wherein the processor is further operable to close the pari-mutuel wager pool before the beginning of the sporting event.

91. The system of claim 75, wherein the pari-mutuel wager pool remains open during at least a portion of the occurrence of the sporting event such that the processor may assign the unit stakes of one or more bets to the pari-mutuel wager pool during the at least a portion of the occurrence of the sporting event.

92. The system of claim 75, wherein the processor is further operable to communicate to a client associated with the particular user an indication of the progress of the sporting event.

93. The system of claim 92, wherein communicating to a client associated with the particular user an indication of the progress of the sporting event comprises communicating to the client streaming video of the sporting event.

94. The system of claim 93, wherein the streaming video of the sporting event is communicated to the client substantially in real time.

95. The system of claim 75, wherein:

the sporting event comprises a particular one of a plurality of race events; and

the identity of the particular race event is not made available to the particular user before the particular bet is received from the particular user.

96. The system of claim 75, wherein the processor is further operable to:

determine whether the particular bet is a push based on the result of the game for the particular bet; and

if the particular bet is determined a push;

include the unit stake associated with the particular bet in a carryover wager pool; and

determine an updated value of the pari-mutuel wager pool for a subsequent sporting event, the updated value comprising at least a portion of the total of the unit stakes of a plurality of subsequent bets and the carryover wager pool.

97. The system of claim 75, wherein the processor is further operable to:

determine whether the particular bet is a push based on the result of the game for the particular bet; and

if the particular bet is determined a push;

include the unit stake associated with the particular bet in a carryover wager pool;

receive from each of one or more subsequent users a subsequent bet regarding the result of the game for that user, each subsequent bet having an associated unit stake;

determine an updated value of the pari-mutuel wager pool comprising at least a portion of the total of the unit stakes of the plurality of subsequent bets and the carryover wager pool;

determine one or more subsequent inputs for the game based on event results from a subsequent sporting event;

determine a subsequent result of the game for the particular bet based at least on the set of rules and the one or more determined subsequent inputs;

make a subsequent determination of whether the particular bet is a winning bet based on the subsequent result of the game for the particular bet; and

if the particular bet is a winning bet according to the subsequent determination, determine an amount of a payout for the particular bet based at least on the unit stake associated with the particular bet and the updated value of the parimutuel wager pool.

98. The system of claim 75, wherein the processor is further operable to:

for each bet received from the plurality of users;

determine one or more inputs for the game based on event results from the sporting event;

determine a result of the game for that bet based at least on the set of rules and the one or more determined inputs; and

determine whether that bet is a winning bet based on the result of the game for that bet; and

if none of the bets received from the plurality of users are determined winning bets, include the unit stake associated with the particular bet in a subsequent parimutuel wager pool associated with a subsequent sporting event.