Method and system for parimutuel wagering on outcomes

Inactive Publication Date: 2011-03-31
AARON JOHN M
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

It is difficult to accurately and profitably manage large scale projects.
Aside from issues of scale, the persons with the most knowledge of what is needed to accomplish project goals are often implementation workers with limited ability to affect project operations, particularly at a scale beyond their own implementation efforts.
While implementation workers may express their concerns or needs to immediate supervisors, it is common that as project difficulties mount, supervisors may become reticent to accurately report to their supervisors, and senior management may have limited knowledge of the problems faced by those ‘in the field’.
Thus, senior management has a pressing need to know and understand project difficulties, but is often ill-sited to receive the info

Method used

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  • Method and system for parimutuel wagering on outcomes
  • Method and system for parimutuel wagering on outcomes
  • Method and system for parimutuel wagering on outcomes

Examples

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Embodiment Construction

[0020]FIG. 1 illustrates a flowchart of a method 100 for determining an award for at least one winner, in accordance with one aspect of the invention. Method 100 includes establishing at least a first outcome, at step 110. The first outcome is predicated on a common output produced by a plurality of entities working in conjunction. In one embodiment, the outcome relates to a project, and each of the plurality of entities is working on at least a portion of the project. Each entity can be an individual, a company, or an association of individuals working as a team for a common goal as a portion of the project. The project can be any project, such as, but not limited to, software implementation, software coding, or the like. At step 120, at least three scenarios are established, such that each scenario is associated with a condition of the first outcome. Each scenario relates to the outcome and describes a potential condition of the outcome. For example, in a three scenario situation,...

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PUM

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Abstract

A method for determining an award for at least one winner includes establishing at least a first outcome predicated on a common output produced by a plurality of entities working in conjunction, and establishing at least three scenarios associated with the first outcome, each scenario associated with a condition of the first outcome, and receiving a plurality of wagers associated with each scenario and at least one of the entities. The method further includes awarding at least a first award in a parimutuel basis based on the received wagers.

Description

RELATED APPLICATIONS[0001]This application claims the benefit of, and priority to, U.S. patent application Ser. No. 12 / 124,702 filed May 21, 2008 as a continuation-in-part application. Additionally, this application claims the benefit of, and priority to, U.S. Provisional Patent Application 61 / 384,386 filed Sep. 20, 2010.FIELD OF THE INVENTION[0002]The present invention relates to parimutuel wagering on outcomes.BACKGROUND OF THE INVENTION[0003]It is difficult to accurately and profitably manage large scale projects. Aside from issues of scale, the persons with the most knowledge of what is needed to accomplish project goals are often implementation workers with limited ability to affect project operations, particularly at a scale beyond their own implementation efforts. While implementation workers may express their concerns or needs to immediate supervisors, it is common that as project difficulties mount, supervisors may become reticent to accurately report to their supervisors, ...

Claims

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Application Information

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IPC IPC(8): A63F9/24
CPCG06Q30/02
Inventor AARON, JOHN M.
Owner AARON JOHN M
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