Automated In-Game Betting Odds Calculation System
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current systems for determining and managing in-game betting odds lack efficiency and accuracy, particularly in situations where new information becomes available quickly, leading to potential inaccuracies and limited in-game wager opportunities due to manual calculations and labor constraints.
Innovation Solution
A system that automatically calculates odds for in-game events using real-time data and algorithms, updating probabilities based on in-game information, and allowing for automated settlement and opening of new betting events, potentially assisted by human operators for error correction.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual calculations are used to determine in-game betting odds, then human judgment and flexibility are maintained, but speed and accuracy of odds determination deteriorate due to labor constraints and time delays
Solution Approach 1:
The patent replaces manual mechanical calculations with automated computer algorithms that process real-time in-game data to calculate betting odds. The system automatically monitors game events, updates probabilities, and determines odds without human intervention, thereby eliminating time delays and improving both speed and accuracy of odds determination.
Solution Approach 2:
The system performs self-service by automatically monitoring game conditions, calculating odds, and updating probabilities without requiring human operators. The automated algorithm continuously processes in-game information and adjusts odds independently, enabling rapid response to changing game states while maintaining high accuracy through computational precision.
2Productivity
If automated systems are implemented to calculate odds quickly, then response time and productivity improve, but system complexity and initial setup requirements increase
Solution Approach 1:
The patent implements a universal automated system that handles multiple functions including real-time data collection, probability calculation, odds determination, and dynamic updating. This multi-functional approach consolidates what would otherwise require multiple separate systems into a single integrated platform, improving productivity while managing complexity through functional consolidation.
Solution Approach 2:
The system incorporates continuous feedback mechanisms where in-game events are monitored, probabilities are recalculated based on current game state, and odds are automatically updated. This feedback loop enables rapid response to changing conditions while the automated nature of the feedback process manages complexity through standardized computational routines rather than ad-hoc human decision-making.
3Quantity of substance
If more wagering opportunities are created through automated processing, then quantity and variety of bets increase, but manual monitoring and error correction requirements worsen
Solution Approach 1:
The automated system performs self-service by independently generating, monitoring, and managing numerous wagering opportunities without requiring proportional increases in manual labor. The algorithm automatically processes game data, calculates odds for multiple event types, and manages betting operations independently, thereby increasing the quantity of wagering opportunities while maintaining ease of operation through automation.
Solution Approach 2:
The patent replaces manual monitoring and error correction with automated computational systems that continuously verify odds calculations and monitor game events. This substitution eliminates the need for human operators to manually check each wagering opportunity, allowing the quantity of opportunities to increase while maintaining operational ease through automated verification and error detection.
Data Source
AI summary
Some embodiments may include interaction among sports books. Various other systems and methods are described.