System and method for providing a contest-based game

Abstract

A method of multiple pricing for a predetermined shared jackpot in a contest-based game is disclosed. For instance, a contest-based game ticket that is purchased for one dollar can result in a five million dollar win, a contest-based game ticket that is purchased for two dollars can result in a ten million dollar win, a contest-based game ticket that is purchased for three dollars can result in a fifteen million dollar win, etc. Further, different winnings increments can be used. For instance, the three-dollar ticket can result in a twenty million dollar win. In addition, the contest-based game prize can be a variable prize that progressively increases with a percentage of each ticket sold. The determination of the winner of a contest-based game as described herein is made based on the player's prediction of occurrences that can transpire in association with a contest such as a sporting event or racing event, or a series of such events.

Description

RELATED APPLICATIONS [0001] This application is a Continuation-In-Part application of U.S. patent application Ser. No. 10 / 766,656, filed on Jan. 27, 2004, entitled A SYSTEM AND METHOD OF PROVIDING A GUARANTEE IN A LOTTERY. This application is also a Continuation-In-Part application of U.S. patent application Ser. No. 11 / 043,913, filed on Jan. 25, 2005, entitled LOTTERY TICKET PROVIDING FOR MULTIPLE GAMES which in turn is a Continuation-In-Part application of U.S. patent application Ser. No. 10 / 766,676, filed on Jan. 27, 2004, entitled MULTIPLE PRICING SHARED SINGLE JACKPOT IN A LOTTERY by Robert J. Wright, now U.S. Pat. No. 6,935,948, all of which are hereby incorporated by reference in their entireties.BACKGROUND [0002] 1. Field [0003] A system and method are disclosed which generally relate to gaming, and more specifically to games of chance. [0004] 2. General Background [0005] A contest-based game is a game of chance in which players predict one or more occurrences or outcomes in...

AI Technical Summary

Benefits of technology

[0026] In another aspect, the method can provide a guarantee of payment of the first-price category intra-shared distribution and a guarantee of payment of the second-price category intra-shared distribution. The guarantee can be in exchange for a stipulation of a percentage of ticket sales revenue from the first-price category contest-based game tickets and from the second-price category contest-based game tickets. The guarantee occurs prior to ticket sales in the contest-based game. The percentage of the ticket sales revenue is then received. The guarantee can ensure that the payment of the prize will be paid even if the ticket sales are not sufficient in amount to satisfy a prize-payment obligation. Furthermore, the guarantee can ensure that the payment of the prize will be made even if the percentage of the ticket sales revenue allocated to prizes is not sufficient in amount to satisfy the prize-payment obligation.

Problems solved by technology

One potential problem with the pari-mutuel model is that a sufficient number of tickets need to be sold in order to provide a reasonable contest-based game prize.

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