System and method for betting on-the-board or off-the-board in an event
First Claim
1. A computer-implemented method of managing bets, comprising:
- receiving one or more first type of bets from a first group of one or more bettors, each first type of bet associated with a bet amount and comprising a bet that a participant selected from a set of participants in an event will finish in a predetermined subset of finishing positions associated with the event, wherein the set of participants in the event comprises at least three participants;
receiving one or more second type of bets from a second group of one or more bettors, each second type of bet associated with a bet amount and comprising a bet that the selected participant will not finish in the predetermined subset of finishing positions associated with the event, wherein at least one of the bettors in the second group of bettors is not in the first group of bettors;
adding the bet amounts associated with the first type of bets with the bet amounts associated with the second type of bets to form a betting pool; and
electronically determining an amount of a payout based at least in part on the betting pool.
1 Assignment
0 Petitions
Accused Products
Abstract
A system for managing bets comprises a memory and a processor. The memory stores one or more first type of bets and one or more second types of bets. Each first type of bet is associated with a bet amount and comprises a bet that a participant selected from a set of participants in an event will finish in a predetermined subset of finishing positions associated with the event. Each second type of bet is associated with a bet amount and comprises a bet that the selected participant will not finish in the predetermined subset of finishing positions associated with the event. The processor adds the bet amounts associated with the first type of bets with the bet amounts associated with the second type of bets to form a betting pool. The processor determines an amount of a payout based at least in part on the betting pool.
124 Citations
26 Claims
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1. A computer-implemented method of managing bets, comprising:
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receiving one or more first type of bets from a first group of one or more bettors, each first type of bet associated with a bet amount and comprising a bet that a participant selected from a set of participants in an event will finish in a predetermined subset of finishing positions associated with the event, wherein the set of participants in the event comprises at least three participants; receiving one or more second type of bets from a second group of one or more bettors, each second type of bet associated with a bet amount and comprising a bet that the selected participant will not finish in the predetermined subset of finishing positions associated with the event, wherein at least one of the bettors in the second group of bettors is not in the first group of bettors; adding the bet amounts associated with the first type of bets with the bet amounts associated with the second type of bets to form a betting pool; and electronically determining an amount of a payout based at least in part on the betting pool. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A method comprising:
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receiving a plurality of first type of bets, the first type of bets being associated with bet amounts and comprising bets that a participant selected from a set of participants in an event will finish in a predetermined subset of finishing positions associated with the event, wherein the set of participants in the event comprises at least three participants; receiving a plurality of second type of bets, the second type of bets being associated with bet amounts and comprising bets that the selected participant will not finish in the predetermined subset of finishing positions associated with the event; adding at least the bet amounts associated with the first type of bets and the bet amounts associated with the second type of bets to a betting pool; and based at least in part on the betting pool, electronically determining for at least one of the first type of bets and the second type of bets a payout. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17)
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18. A method comprising:
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receiving a first bet on an event, wherein the event comprises; at least three participants, and a plurality of finishing positions; and wherein the first bet comprises; a first bet amount, and a bet that a selected one of the at least three participants will finish the event in a selected subset of the finishing positions; receiving a second bet on the event, wherein the second bet comprises; a second bet amount, and a bet that the selected one of the at least three participants will not finish the event in the selected subset of the finishing positions; adding at least the first bet amount and the second bet amount to a betting pool; based at least in part on the first bet amount and the betting pool, electronically determining a first payout for the first bet; and based at least in part on the second bet amount and the betting pool, electronically determining a second payout for the second bet. - View Dependent Claims (19, 20)
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21. A method comprising:
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receiving a first bet on an event, wherein the event comprises; a plurality of participants, and a plurality of finishing positions; and wherein the first bet comprises; a first bet amount, at least two selected participants from the plurality of participants, a selected subset of the finishing positions, and a bet that at least one of the at least two selected participants will finish the event in the selected subset of the finishing positions; receiving a second bet on the event, wherein the second bet comprises; a second bet amount, and a bet that none of the at least two selected participants will finish the event in the selected subset of the finishing positions; adding at least the first bet amount and the second bet amount to a betting pool; and based at least in part on the betting pool, electronically determining for at least one of the first bet and the second bet a payout. - View Dependent Claims (22, 23)
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24. A method comprising:
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receiving a first bet on an event, wherein the event comprises; a plurality of participants, and a plurality of finishing positions; and wherein the first bet comprises; a first bet amount, at least two selected participants from the plurality of participants, a selected subset of the finishing positions, and a bet that the at least two selected participants will finish the event in the selected subset of the finishing positions; receiving a second bet on the event, wherein the second bet comprises; a second bet amount, and a bet that at least one of the at least two selected participants will not finish the event in the selected subset of the finishing positions; adding at least the first bet amount and the second bet amount to a betting pool; and based at least in part on the betting pool, electronically determining a payout for at least one of the first bet and the second bet. - View Dependent Claims (25, 26)
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Specification