Pari-Mutuel Wagering System Using Historical Event Replay
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Solution Overview
Problem
Traditional pari-mutuel wagering systems, such as those found in racetracks, face challenges in providing patrons with immediate rewards and higher frequency wagering opportunities, as they often have limited wagering options and fixed odds, which can lead to waning interest and increased competition from lotteries and casinos.
Innovation Solution
A system and method for pari-mutuel wagering on actual past events using a video server, game server, and terminals connected via a wide area network, allowing players to select winners and handicapping factors, with features like progressive pools and instant payoffs, enabling more frequent and varied wagering experiences.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional pari-mutuel wagering systems are used, then wagering on actual racing events is enabled, but wagering frequency is limited and immediate rewards are not provided
Solution Approach 1:
The system transitions from static, schedule-based wagering to dynamic, on-demand wagering. Players can initiate wagers at any time by selecting from a library of past racing events, making the wagering system adaptable and responsive to player availability rather than constrained by fixed race schedules.
Solution Approach 2:
The system pre-stores a library of past racing events and prepares them for immediate wagering. By having events pre-loaded and ready, the system eliminates the need to wait for future scheduled races and enables instant wagering on historical events that have already occurred.
2Ease of operation
If fixed odds are used in racing games, then game operation is simplified, but player interest wanes due to lack of pari-mutuel excitement
Solution Approach 1:
The system integrates multiple wagering modes within a single platform, combining both fixed odds wagering on simulated races and pari-mutuel wagering on actual past events. This allows players to switch between different wagering types based on their preferences, providing both simplicity and variety in one system.
Solution Approach 2:
The system changes the odds parameter dynamically based on the wagering mode and selected event. For pari-mutuel wagers on actual races, odds are calculated based on real-time pool distributions from the totalisator, while simulated races use fixed odds. This parameter flexibility allows the system to adapt to different player expectations and wagering types.
3Adaptability or versatility
If simulcasting is used to offer more wagering variety, then patron loyalty is enhanced, but wagering frequency remains limited compared to slot machines
Solution Approach 1:
The system pre-loads a comprehensive library of past racing events that are ready for immediate wagering. By having these events prepared in advance, players can instantly wager on a wide variety of historical races without waiting for future simulcast events, dramatically increasing wagering frequency while maintaining variety.
Solution Approach 2:
The system creates virtual copies of past racing events from the totalisator library, allowing players to wager on replicated historical races. These digital copies enable repeated wagering on the same event type without requiring actual live races, providing endless variety and frequency similar to slot machine replay capabilities.
4Measurement precision
If a totalisator system is implemented for pari-mutuel wagering, then accurate odds calculation is achieved, but system complexity increases
Solution Approach 1:
The system uses a gateway as an intermediary component that interfaces between the gaming terminal and the totalisator system. This gateway handles the complex communication protocols and data translation, allowing the terminal to access accurate pari-mutuel odds from the totalisator without requiring the terminal itself to be overly complex.
Solution Approach 2:
The gaming terminal is designed as a multi-functional device that can handle both fixed odds wagering and pari-mutuel wagering through a single interface. By making the terminal universal, the system avoids requiring separate specialized hardware for different wagering types, thereby managing complexity while providing accurate odds calculation capabilities.
Data Source
AI summary
A system for pari-mutuel wagering on actual past events includes, in one embodiment, game terminals and a game server, all couplable to a network. The game terminals are configured to receive respective initial pari-mutuel wagers on a historic gaming event from respective players. The game terminals are further configured to receive respective winner selections for the historic gaming event for respective players. The game server is configured to randomly select the historical gaming event from a database and determine respective payouts for the game terminals based on results of the historical gaming event and the respective winner selections. The game server is further configured to admit at least one of the respective players to a bonus game, provide a bonus pool for the bonus game, and determine bonus payouts from the bonus pool to the at least one of the respective players based on bonus game results.