Pari-mutuel sports wagering system
First Claim
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1. A pari-mutuel wagering method comprising the steps of:
- offering a plurality of wagering options related to human sporting events to a plurality of bettors, wherein the wagering options include wagers based on performance statistics, wherein the wagers are not directly related to the outcome of the sporting events or to predicting the outcome of sub-events that may occur during the sporting events;
taking wagers from the bettors to create multiple pool of wagers based on the performance statistics;
allocating a portion of each pool of wagers as commission to an operator;
allocating the remainder of each pool of wagers as a common pari-mutuel fund for paying winning wagers;
determining whether each wager is a winning wager; and
paying each bettor an amount from the common pari-mutuel fund for each winning wager respectively made by the bettor.
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Abstract
This invention relates to sports and event wagering, particularly to a new sport and event wagering game and system. This game and supporting system allows pari-mutuel wagering with respect to new areas other than horse or dog racing, which will expand the sports wagering industry to encompass new areas of interest and enjoyment to bettors. Specifically, pari-mutuel wagering is enabled with respect to the performance statistics of individual sport or event participants, combinations of sport participants, combinations of event participants, and sport teams. This wagering game is supported by an electronic system, which allows interaction with the game via various communications methods, remotely or in-person, which can allow or restrict wagering activity based upon bettor location.
325 Citations
27 Claims
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1. A pari-mutuel wagering method comprising the steps of:
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offering a plurality of wagering options related to human sporting events to a plurality of bettors, wherein the wagering options include wagers based on performance statistics, wherein the wagers are not directly related to the outcome of the sporting events or to predicting the outcome of sub-events that may occur during the sporting events;
taking wagers from the bettors to create multiple pool of wagers based on the performance statistics;
allocating a portion of each pool of wagers as commission to an operator;
allocating the remainder of each pool of wagers as a common pari-mutuel fund for paying winning wagers;
determining whether each wager is a winning wager; and
paying each bettor an amount from the common pari-mutuel fund for each winning wager respectively made by the bettor. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. A system for pari-mutuel sports wagering comprising:
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at least one processing element which is adapted to receive wagers relating to human sporting events, wherein the wagers are based on performance statistics and are not directly related to the outcome of the sporting events or to predicting the outcome of sub-events that may occur during the sporting events, and wherein the at least one processing element is further adapted to create multiple pools of wagers based on the performance statistics, to allocate a portion of each pool of wagers as commission to an operator, to calculate odds relating to the wagers based on a pari-mutuel wagering strategy, to determine whether the received wagers are winning wagers, and to determine a payout amount for the winning wagers based on the pari-mutuel wagering strategy;
a plurality of linking elements which are communicatively coupled to the at least one processing element and which ire adapted to allow for communication with the at least one processing element; and
a plurality of input elements which are communicatively coupled to the plurality of linking elements and which allow bettors to communicate with the at least one processing element in order to place wagers. - View Dependent Claims (22, 23, 24, 25, 26, 27)
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Specification
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Current AssigneeDavid W. Downes
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Original AssigneeDavid W. Downes
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InventorsDownes, David W.
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Primary Examiner(s)Harrison, Jessica
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Assistant Examiner(s)RADA, ALEX P
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Application NumberUS10/126,266Publication NumberTime in Patent Office1,166 DaysField of Search463 25- 26, 463 28- 29, 463 40- 42, 700 91- 92US Class Current463/28CPC Class CodesG07F 17/32 for games, toys, sports, or...G07F 17/3223 Architectural aspects of a ...G07F 17/3288 Betting, e.g. on live event...
