Managing bets that select events and participants

• US 9,098,883 B2
• Filed: 02/03/2004
• Issued: 08/04/2015
• 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:
  US10/771,076
• Publication Number:
  US 20050181862A1
• Time in Patent Office: 4,200 Days
• Field of Search: 463 16- 20, 463/25, 463 40- 43, 707/100, 705 64- 69, 273/139
• US Class Current: 1/1
• 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 method, comprising the steps of:

at a computer processor of a computer betting system, receiving a plurality of group bets from respective bettors, each group bet comprising;

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

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

a bet amount;

combining the amounts of the group bets of the plurality to form a betting pool, the betting system permitting the bettors to select different combinations of events and participants from each other for pooling in a common pool; and

at a computer processor, determining an amount of a payout for winning group bets of the plurality based at least in part on the amount of the bets in the betting pool.

2. The method of claim 1, further comprising the steps of:

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

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

3. The method 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 correspond to a winning participant for each of the first plurality of events selected and the group bet of the plurality of group bets includes a winning participant of a specified event.

4. The method 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 correspond to a winning participant for each of the first plurality of events selected and the group bet amount is at least as high as a specified amount.

5. The method 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 correspond to a winning participant for each of the first plurality of events selected and the selected respective participants of the group bet comprise participants having specified odds.

6. The method of claim 2, further comprising the step of:

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 method of claim 2, further comprising the step of:

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 amount bet on the events in the pool.

8. The method 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.

9. The method of claim 2, further comprising the step of:

increasing 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 based at least in part on the first winning bet'"'"'s selected respective participants for each of the first plurality of events selected each had specified odds.

10. The method of claim 2 further comprising the step of:

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 selection of the first winning group bets'"'"' event for a bonus, selection being known to bettors while group bets are received.

11. The method of claim 2, further comprising the step of:

increasing 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 selection of the first winning group bets'"'"' event for a bonus, selection occurring after group bets are received.

12. The method 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.

13. The method of claim 1, further comprising the steps of:

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

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

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

14. The method of claim 1, further comprising the steps of:

canceling at least one event of the group of events;

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

determining 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 first plurality of events selected in the group bet.

15. The method of claim 1, wherein the first plurality of events comprise horse racing events held at different tracks.

16. The method of claim 1, wherein the first plurality of events comprise events held on different days.

17. The method of claim 1, wherein the first plurality of events comprise two or more events selected from events 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.

18. The method of claim 17, wherein the first plurality of events comprise at least one horse racing event and at least one football event.

19. The method of claim 17, wherein the first plurality of events comprise at least one football event and at least one basketball event.

20. The method of claim 17, wherein the first plurality of events comprise:

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; and

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

21. The method of claim 1, further comprising stipulating an adjustment parameter that provides a bonus to the plurality of group bets upon satisfaction of the adjustment parameter.

22. The method of claim 1, further comprising the steps of:

receiving results of the group of events; and

determining one or more winning group bets of the plurality of group bets based on the results.

23. The method of claim 1, wherein at least one event selected for a first of the group bets of the pool comprises a type of event different from the types of the events selected for a second of the group bets.

41. The method of claim 1, further comprising the steps of:

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

determining one or more winning group bets of the plurality of group bets by determining for each of the plurality of group bets if each selected respective participant corresponds to the winning participant for each of the first plurality of events selected in the group bet;

determining an amount to be paid for a winning group bet of the one or more winning group bets based on the plurality of winning group bets, the amount of the total payout and the group bet amount of the winning group bet of the one or more winning group bets.

42. The method of claim 41, further comprising paying a bonus from the amount of the total payout if the winning group bet of the one or more winning group bets comprises a winning participant of a specified event.

43. The method of claim 41, further comprising paying a bonus from the amount of the total payout if at least some of the selected respective participants for each of the first plurality of events selected of the winning group bet of the one or more winning group bets had specified odds.

44. The method of claim 41, wherein the first plurality of events comprise horse racing events held at different tracks.

45. The method of claim 41, wherein the first plurality of events comprise at least one football event and at least one of the following types of events:

horse racing, dog racing, basketball, baseball, hockey, soccer, jai-alai, golf, boxing, rugby, cricket, auto racing, bicycle racing, tennis, Olympic or other sporting events.

46. The method of claim 41, wherein the first plurality of events comprise:

a first event comprising 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 comprising 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 are different types of events.

47. The method of claim 41, further comprising the step of:

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

24. A system for managing group bets, comprising:

a tangible nonvolatile computer storage memory and processor designed to store and operate on data representing a plurality of group bets from respective bettors, each group bet comprising;

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

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

a bet amount;

the betting system permitting the bettors to select different combinations of events and participants from each other for pooling in a common pool;

the processor programmed to;

combine group bets to form a betting pool, the betting system permitting the bettors to select different combinations of events and participants from each other for pooling in a common pool; and

determine an amount of a total payout for winning group bets of the plurality based at least in part on the amount of the group bets in the betting pool.

25. The system of claim 24, 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 correspond to a winning participant for each of the first plurality of events selected and the group bet of the plurality of group bets includes a winning participant of a specified event.

26. The system of claim 24, 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 correspond to a winning participant for each of the first plurality of events selected and the bet amount is at least as high as a specified amount.

27. The system of claim 24, 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 correspond to a winning participant for each of the first plurality of events selected and the selected respective participants of the group bet comprise participants having specified odds.

28. The system of claim 24, wherein the processor is operable to determine an amount to be paid for each winning group bet further based on the odds of the selected respective participants of each winning group bet.

29. The system of claim 24, wherein the processor is operable to increase a payout for a first winning group bet of the one or more winning group bets if the first winning group bet'"'"'s selected respective participants for each of the first plurality of events selected each had specified odds.

30. The system of claim 24, wherein the processor is operable to increase a payout for a first winning group bet of the one or more winning group bets if at least one of the first winning group bet'"'"'s selected events comprises a specified event.

31. The system of claim 24, wherein a processor operable to determining an amount of a total payout based at least in part on the betting pool comprises a processor operable to add to the betting pool a carryover amount from a previous betting pool.

32. The system of claim 24, wherein the processor is further operable 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 by determining for each of the plurality of group bets if each selected respective participant corresponds to the winning participant for each of the first plurality of events selected in the group bet; and

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

33. The system of claim 24, wherein the processor is further operable 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 first plurality of events selected in the group bet.

34. The system of claim 24, wherein the first plurality of events comprise horse racing events held at different tracks.

35. The system of claim 24, wherein the first plurality of events comprise events held on different days.

36. The system of claim 24, wherein the first plurality of events comprise one or more 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.

37. The system of claim 24, wherein the first plurality of events comprise at least one horse racing event and at least one football event.

38. The system of claim 24, wherein the first plurality of events comprise at least one football event and at least one basketball event.

39. The system of claim 24, wherein the first plurality of events comprise:

a first event comprising 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 comprising 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

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

40. The system of claim 24, wherein the processor is operable to communicate an adjustment parameter that provides a bonus to the plurality of group bets upon satisfaction of the adjustment parameter.

48. The system of claim 24, wherein the at least one event selected for a first of the group bets of the pool comprises a type of event different from the types of the events selected for a second of the group bets.

49. A method, comprising the steps of:

at a computer processor of a computer betting system, receiving data representing group bets from respective bettors, each group bets comprising;

a selection of a first plurality of events by the respective bettor from among a group of events offered by a sponsor of group bets, each event having a plurality of participants;

a selection of a respective participant from among the participants in each event selected for the group bet; and

a bet amount;

the betting system programmed to process data representing the group bets to combine the amounts of the group bets of the plurality to form a common betting pool, the betting system accepting data from bettors that have selected different combinations of events and participants from each other for pooling in the common pool, and programmed to determine an amount of a total payout for winning group bets of the plurality based at least in part on an amount of the common pool formed by combining the group bets amount.

50. The method of claim 49, wherein at least one event selected for a first of the group bets of the pool comprises a type of event different from the types of the events selected for a second of the group bets of the pool.

51. The method of claim 49, wherein the first selected plurality of events comprises a different plurality of events than the second selected plurality of events.

52. A method, comprising the steps of:

at a computer entry device, accepting 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 turning on the performance of the participants; and

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 that differ among the group bets in the pool, the betting pool to be processed by a processor to determine a payout for winning group bets of the plurality based on the outcomes of at least two events designated by group bets in the betting pool.

53. The method of claim 52, further comprising the steps of:

receiving results of the group of events, the results identifying a winning outcome for each event of the group of events; and

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

54. The method of claim 53, 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 outcomes correspond to a winning outcome for each of the first plurality of events selected and the group bet of the plurality of group bets includes a winning outcome of a specified event.

55. The method of claim 53, 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 outcomes correspond to a winning outcome for each of the first plurality of events selected and the group bet amount is at least as high as a specified amount.

56. The method of claim 53, 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 outcomes correspond to a winning outcome for each of the first plurality of events selected and the selected respective outcomes of the group bet comprise outcomes having specified odds.

57. The method of claim 53, further comprising the step of:

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 outcome of the event of the first winning group bet, the increase being based at least in part on the relative odds among the winning outcomes of the winning group bets in the pool.

58. The method of claim 53, further comprising the step of:

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 outcome of the event of the first winning group bet, the increase being based at least in part on the relative amount group bet on the events in the pool.

59. The method of claim 53, further comprising the step of:

increasing 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 group bets on the same event as the first winning group bet based at least in part on the first winning group bet'"'"'s selected respective outcomes for each of the first plurality of events selected each had specified odds.

60. The method of claim 53, further comprising the step of:

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 outcome of the event of the first winning group bet, the increase being based at least in part on selection of the first winning group bets'"'"' event for a bonus, selection being known to bettors while group bets are received.

61. The method of claim 53, further comprising the step of:

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 outcome of the event of the first winning group bet, the increase being based at least in part selection of the first winning group bets'"'"' event for a bonus, selection occurring after group bets are received.

62. The method of claim 53, wherein determining an amount to be paid for each winning group bet is further based on the odds of the selected respective outcomes of each winning group bet.

63. The method of claim 52, 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.

64. The method of claim 52, further comprising the steps of:

receiving results of the group of events, the results identifying a winning outcome for each event of the group of events;

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

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

65. The method of claim 52, further comprising the steps of:

canceling at least one event of the group of events;

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

determining one or more winning group bets by determining for each of the plurality of group bets if at least one of the selected respective outcomes corresponds to the winning outcome for at least one of the first plurality of events selected in the group bet.

66. The method of claim 52, wherein the first plurality of events comprise horse racing events held at different tracks.

67. The method of claim 52, wherein the first plurality of events comprise events held on different days,

and wherein the events underlying bets in the pool comprise two or more event types selected from events from the group of types 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.

68. The method of claim 52, wherein:

the events underlying bets in the pool comprise at least one horse racing event and at least one football event.

69. The method of claim 52, wherein:

the events underlying bets in the pool comprise at least one football event and at least one basketball event.

70. The method of claim 52, wherein events underlying bets in the pool comprise:

a first event selected from events 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, political or entertainment event; and

a second event selected from events 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, political or entertainment event; and

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

71. The method of claim 52, further comprising:

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

72. An apparatus comprising:

means for receiving a plurality of group bets from respective bettors, each group bet comprising;

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

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

a bet amount;

means for combining the amounts of the group bets of the plurality to form a betting pool;

means for permitting the bettors to select different combinations of events and participants from each other for pooling in a common pool; and

means for determining an amount of a payout for winning group bets of the plurality based at least in part on the amount of the bets in the betting pool.