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Method and apparatus that control risk and uncertainty in a lottery game

a lottery game and risk control technology, applied in the field of lottery games, can solve the problems of generating net loss in traditional raffle games, affecting the success of traditional raffle games, and a financial risk related to marketing factors

Inactive Publication Date: 2012-11-29
LOTTERY DYNAMICS
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0012]In another aspect of the disclosure, a computer program product includes a computer useable medium having a computer readable program. The computer readable program when executed on a computer causes the computer to generate, with a lottery machine apparatus, a first predetermined quantity of unique combinations of a first set of first game indicia and a second predetermined quantity of unique combinations of a second set of second game indicia. Further, the computer readable program when executed on the computer causes the computer to print, with a lottery ticket printer, a set of lottery tickets for a lottery game such that each of the lottery tickets in the set of lottery tickets distinctly corresponds to one of the first predetermined quantity of unique combinations of a first set of first game indicia and to one of the second predetermined quantity of unique combinations of a second set of second game indicia. In addition, the computer readable program when executed on the computer causes the computer to distribute a subset of the set of lottery tickets in a plurality of lots. The computer readable program when executed on the computer also causes the computer to determine a maximum prize winner by selecting a winning unique combination from a subset of a set of the predetermined quantity of unique combinations of the first set of game indicia and the predetermined quantity of unique combinations of the second set of game indicia that are associated with the subset of the set of lottery tickets. Further, the computer readable program when executed on the computer also causes the computer to determine a plurality of secondary prize winning matches based upon a plurality of partial matches from the first predetermined quantity of unique combinations of a first set of first game indicia and the second predetermined quantity of unique combinations of a second set of second game indicia.

Problems solved by technology

Traditional raffle games carry a financial risk related to marketing factors.
If enough raffle tickets are not sold to cover the fixed prize costs in a traditional raffle game, profits may be much lower than expected.
The traditional raffle game may produce a net loss if tickets sales volume is not enough to cover costs.
In other words, if enough tickets are not sold, the cost of running the game can exceed revenues generated from ticket sales.
Further, the costs of the ticket or raffle unit may be ten dollars.

Method used

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  • Method and apparatus that control risk and uncertainty in a lottery game
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Embodiment Construction

[0043]A method and apparatus are disclosed that provide a probabilities-based prize structure in a raffle game. The probabilities-based prize structure provides a known universe of prizes that would be awarded if all raffle tickets are sold. However, the awarding of prizes and the number of prizes is randomly determined based upon probabilities and odds regardless of the volume of tickets or units sold. In contrast to a lottery game, in one configuration, the raffle game would not provide for sharing of a prize in the event of multiple winners. In further contrast to a lottery game, in one configuration, the raffle game would not allow for rollovers, i.e., prizes amounts that have not been won in a particular drawing are not available for subsequent drawings.

[0044]FIG. 1 illustrates a probabilities-based raffle prize structure 100. As an example, the ticket price 102 for a probabilities-based raffle ticket may be fifty dollars. A payout table 104 indicates the various prizes corresp...

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PUM

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Abstract

A process is provided. The process generates, with a lottery machine apparatus, a predetermined quantity of unique combinations of a set of game indicia. Further, the process prints, with a lottery ticket printer, a set of lottery tickets for a lottery game such that each of the lottery tickets in the set of lottery tickets distinctly corresponds to one of the unique combinations of the set of game indicia. In addition, the process distributes a subset of the set of lottery tickets in a plurality of lots. The process also determines a maximum prize winner by selecting a winning unique combination from a subset of the predetermined quantity of unique combinations of the first set of game indicia that is associated with the subset of the set of lottery tickets.

Description

RELATED APPLICATIONS[0001]This application is a Continuation-In-Part application of U.S. patent application Ser. No. 12 / 258,373, filed on Oct. 24, 2008, entitled METHOD AND APPARATUS THAT CONTROL RISK AND UNCERTAINTY IN A PROMOTIONAL LOTTERY GAME WITH A HYRBRID PRIZE STRUCTURE, which is a Continuation-In-Part application of U.S. patent application Ser. No. 12 / 254,777, filed on Oct. 20, 2008, entitled METHOD AND APPARATUS THAT CONTROL RISK AND UNCERTAINTY IN A VARIABLE PRICED PROMOTIONAL LOTTERY GAME, which is a Continuation-In-Part application of U.S. patent application Ser. No. 12 / 250,270, filed on Oct. 13, 2008, entitled METHOD AND APPARATUS THAT CONTROL RISK AND UNCERTAINTY IN A FREQUENCY PRICED RAFFLE, which is a Continuation-In-Part application of U.S. patent application Ser. No. 12 / 206,376, filed on Sep. 8, 2008 and entitled METHOD AND APPARATUS THAT CONTROL RISK AND UNCERTAINTY IN A RAFFLE, all of which are hereby incorporated by reference in their entireties.BACKGROUND[0002]...

Claims

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Application Information

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IPC IPC(8): A63F3/06
CPCA63F3/081G07F17/329G06Q50/34
Inventor FRICK, MICHAEL D.DAVIS, MARK B.PADE, STAN
Owner LOTTERY DYNAMICS