Pari-Mutuel Wagering System with Random Jackpot Integration

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Solution Overview

Problem

Pari-mutuel wagering faces competitive pressure due to the complexity and time-consuming nature of handicapping, leading to a loss of market share as bettors prefer simpler, jackpot-based wagering options like video slots and lotteries, which do not offer the opportunity to utilize skills-based predictions.

Innovation Solution

A system that combines pari-mutuel wagering with jackpot opportunities by assigning randomly generated numbers to bets, creating a jackpot pool, and paying out winnings based on matches, with the option to carry over the jackpot to subsequent events if no match is found, allowing for life-altering jackpots with low minimum wagering units.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If pari-mutuel wagering is used, then bettors can employ skills-based predictions, but the wagering process becomes complex and time-consuming

Engineering Contradiction:

Improveskills-based prediction capabilityVSAvoidwagering process simplicity

Core Design Contradiction:

Adaptability or versatilityVSEase of operation

Solution Approach 1:

The patent combines pari-mutuel wagering with jackpot wagering into a single integrated system. Bettors place one wager that simultaneously participates in both the skills-based pari-mutuel outcome and the random jackpot drawing, merging two distinct wagering types into a unified process that maintains skill-based prediction while adding jackpot excitement without increasing operational complexity

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The wagering system serves multiple functions simultaneously: it provides skills-based prediction opportunities through pari-mutuel wagering, offers random jackpot opportunities, and enables both functions through a single wager placement mechanism. This multi-functionality allows the system to appeal to both skill-based and luck-based bettors without requiring separate wagering processes

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Ease of operation

If simpler jackpot-based wagering is used, then the wagering process becomes easier and faster, but bettors lose the opportunity to use skills-based predictions

Engineering Contradiction:

Improvewagering process simplicityVSAvoidskills-based prediction capability

Core Design Contradiction:

Ease of operationVSAdaptability or versatility

Solution Approach 1:

The system merges simple jackpot wagering with pari-mutuel wagering so that bettors enjoying the simplicity of jackpot games also retain the option to use skills-based predictions. The single wager placement process maintains ease of operation while incorporating both simple random jackpot mechanics and skills-based pari-mutuel prediction capabilities

Inventive Principle:

Principle #5Merging (Combining)

3Adaptability or versatility

If jackpot opportunities are added to pari-mutuel wagering, then life-altering jackpot opportunities are provided, but the system complexity increases

Engineering Contradiction:

Improvejackpot opportunity provisionVSAvoidwagering system complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent merges jackpot pool management with the existing pari-mutuel wagering system infrastructure. The same wager acceptance and processing system handles both pari-mutuel bets and jackpot contributions, eliminating the need for separate complex systems and reducing overall system complexity while providing life-altering jackpot opportunities

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The wagering system performs multiple functions using the same infrastructure: it processes pari-mutuel bets, manages jackpot pools, conducts random drawings, and handles payouts all through a unified system. This multi-functionality provides jackpot opportunities without proportionally increasing system complexity, as the same core system handles multiple wagering types

Inventive Principle:

Principle #6Universality (Multi-functionality)

4Adaptability or versatility

If a portion of wagered sums is assigned to jackpot pool, then life-altering jackpots become possible, but the takeout requirements increase

Engineering Contradiction:

Improvejackpot pool creationVSAvoidtakeout requirements

Core Design Contradiction:

Adaptability or versatilityVSLoss of energy

Solution Approach 1:

The system merges jackpot funding with regular pari-mutuel wagering operations, where a portion of each wager automatically contributes to the jackpot pool. This integrated approach funds life-altering jackpots through normal wagering activity without requiring additional takeout or separate funding mechanisms, as the jackpot pool is built from the same wagered sums that fund regular payouts

Inventive Principle:

Principle #5Merging (Combining)

Data Source

PatentUS8556711B2Pari-mutuel wagering combined with random-generated numbers for generating jackpots with a random draw

Publication Date: 2013.10.15 BERNSEN DAVID

AI summary

A method for wagering may include accepting bets for wagered sums from a plurality of bettors based on each bettor's selected expected outcome of a pari-mutuel event and assigning one or more of a predetermined quantity of randomly generated numbers to each bettor's bet. A portion of the wagered sums may be assigned to a jackpot pool. Event-winning bettors may be paid a calculated pari-mutuel sum after the event if the bettor's selected outcome occurs. A drawing may be conducted from among the predetermined quantity of randomly generated numbers. At least a portion of the jackpot may be paid to any one of the event-winning bettors if there is a match between a drawn number and one of the randomly generated numbers of the event-winning bettor; and if not, carrying over the jackpot to a subsequent event thereby increasing the value of the potential wager to the bettor.