Parimutuel Wagering Interface for Reducing Handicapping Time
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Solution Overview
Problem
Current online parimutuel sports wagering systems present a high learning curve for novice players and inefficiencies for experienced players, particularly in analyzing handicapping information and placing multi-contestant wagers, leading to increased time consumption and potential errors.
Innovation Solution
The development of improved graphical user interfaces and analytical tools that recast tote board information into a more informative format, including quantitative measures like probability and value parameters, to assist players in making informed wagers on multi-contestant events, such as Exacta wagers, by leveraging historical data and odds patterns.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional tote board information is displayed in conventional format, then all wagering information is available to players, but players require significant time and effort to analyze handicapping information and place multi-contestant wagers
Solution Approach 1:
The patent segments the complex task of placing multi-contestant wagers into distinct phases: (1) selecting desired contestants using simplified interface elements, (2) automatically generating combination wagers based on selections, and (3) presenting pre-calculated odds and potential payouts. This segmentation reduces the cognitive load and time required compared to traditional manual analysis of tote board information.
Solution Approach 2:
The system performs preliminary actions by automatically calculating combination odds, potential payouts, and optimizing wager selections before the player places their bet. The interface pre-processes tote board data to identify optimal wagering opportunities, eliminating the need for players to perform time-consuming manual calculations and analysis.
2Loss of information
If comprehensive tote board information is provided for analysis, then players have access to all necessary data, but the complexity of analyzing multi-contestant combinations increases the learning curve
Solution Approach 1:
The patent introduces an intermediary processing layer between the raw tote board data and the player interface. This intermediary automatically processes comprehensive wagering information, calculates combination odds, and presents simplified visual representations. Players interact with this intermediary layer rather than directly analyzing complex tote board data, reducing interface complexity while maintaining information completeness.
Solution Approach 2:
The system replaces the manual mechanical process of analyzing tote board information with automated computational processing. Algorithms automatically calculate combination odds, evaluate wager opportunities, and present results through simplified interface elements, eliminating the need for players to manually process complex information while preserving all necessary data.
3Reliability
If players manually analyze tote board information to place multi-contestant wagers, then informed decisions can be made, but errors increase and efficiency decreases
Solution Approach 1:
The patent implements feedback mechanisms that automatically provide players with calculated odds, potential payouts, and optimization suggestions based on their selections. The system continuously updates wagering information and highlights optimal opportunities, reducing errors by eliminating manual calculation mistakes and improving efficiency through automated information delivery.
Solution Approach 2:
The system performs self-service by automatically generating combination wagers, calculating odds, and identifying optimal betting opportunities based on player selections. This eliminates manual errors in calculation and analysis while maintaining informed decision-making, thereby improving both reliability and productivity simultaneously.
Data Source
AI summary
A user interface for the display of a parimutuel wagering device, that enables a player to place a combination wager on an upcoming contest, includes: (a) combination indicators that appear in the display, and wherein each of these represents one of the possible winning combinations of the wager, (b) value parameters that appear in the display, and wherein each of these is associated with one the combination indicators, (c) wherein each of the value parameters is a quantitative measure of the likelihood that a wager on its associated combination indicator will yield a return that is greater than the cost of the wager, and (d) wherein this value parameters is calculated from some of the temporally-updated information that is provided by the tote board that controls these parimutuel wagers.