Methods and systems for betting with pari-mutuel payouts

a pari-mutuel and payout technology, applied in the field of distributed computing networks, can solve the problems of difficult to achieve loosing, difficult to reward the bettor, difficult to achieve house take, etc., and achieve the effect of removing the risk of the hous

Inactive Publication Date: 2006-12-21
MAHAFFEY CLAY +1
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0011] It is an object of the disclosed technology to combine the very attractive features of pari-mutuel gambling with games and sporting events where one could only traditionally bet against the house. It is another objec...

Problems solved by technology

However, if a bettor believes that an unlikely event will occur, such as a large underdog winning outright rather than merely by winning with the spread added to their total, the bettor is not rewarded and receives the same payout as the underdog bet...

Method used

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  • Methods and systems for betting with pari-mutuel payouts
  • Methods and systems for betting with pari-mutuel payouts
  • Methods and systems for betting with pari-mutuel payouts

Examples

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Embodiment Construction

[0024] The present invention overcomes many of the prior art problems associated with traditional gambling. The advantages, and other features of the system disclosed herein, will become more readily apparent to those having ordinary skill in the art from the following detailed description of certain preferred embodiments taken in conjunction with the drawings which set forth representative embodiments of the present invention and wherein like reference numerals identify similar structural elements.

[0025] Referring now to the FIG. 1, there is shown a block diagram of an environment 10 for implementing the methodology of the present disclosure. The environment 10 is hosted by an entity (hereinafter the house) so that a plurality of gamblers can bet against each other in real-time. The following discussion describes the structure of such an environment 10 but further discussion of the applications program and data modules that embody the methodology of the present invention is descri...

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Abstract

A server for facilitating real-time betting, wherein the server communicates with clients via a distributed computing network. The server includes a memory storing an operating system, an instruction set, event data related to a sporting event, gambler data related to gamblers participating in a competition based upon the sporting event and site data related to electronic pages associated with the real-time para-mutuel betting. A processor runs the instruction set and communicates with the memory and the distributed computing network. The processor is operative to enroll the gamblers by presenting betting rules associated with the sporting event, collect wagering from the gamblers, accept predictions for discrete events within the sporting event from each gambler and determine a first winner of the competition based upon the predictions.

Description

BACKGROUND OF THE INVENTION [0001] 1. Field of the Invention [0002] The subject disclosure relates to methods and systems for gaining technology in a distributed computing network, and more particularly to improved methods and systems for betting with pari-mutuel payouts while utilizing the real-time capabilities of a distributed computing network. [0003] 2. Background of the Related Art [0004] Bookmaking is the practice of gambling on sporting events. A bookmaker or bookie is an entity that takes bets and pays winnings to the gamblers. Traditional bookmaking is generally illegal in the United States, with Nevada being a notable exception. In the United States, most bookmakers accept wagers on boxing, college sports, professional sports, horse racing and dog racing. In other countries, such as the United Kingdom, a wider range of bets is common such as outcomes of political elections, the Wimbledon tennis champion and the probability that it will snow on Christmas. [0005] Bookmaking...

Claims

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Application Information

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IPC IPC(8): A63F9/24
CPCG07F17/3288G07F17/32
Inventor MAHAFFEY, CLAYMAHAFFEY, GUY
Owner MAHAFFEY CLAY
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