Real Time Parlay Odds Calculation System

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Solution Overview

Problem

Current systems for determining in-game betting odds face challenges in accurately calculating probabilities and adjusting odds in real-time, especially when new information becomes available during a game, leading to potentially inaccurate prices and limited in-game wager opportunities due to manual processes and limited manpower.

Innovation Solution

A system that automatically calculates odds for in-game events using real-time game information and an odds database, with the ability to update odds based on in-game events, allowing for immediate settlement of bets and opening of new betting events, potentially assisted by automated information and human error correction.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Measurement precision

If manual processes are used to determine in-game betting odds, then operational simplicity is maintained, but accuracy and speed of odds calculation deteriorate

Engineering Contradiction:

Improveaccuracy of odds calculationVSAvoidcomplexity of odds determination system

Core Design Contradiction:

Measurement precisionVSDevice complexity

Solution Approach 1:

The patent replaces manual mechanical processes with an automated computer-based system that continuously monitors game events and automatically calculates odds using pre-established mathematical models and algorithms, eliminating human error and improving calculation speed and accuracy

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The system automatically monitors game events, updates odds calculations, and manages betting opportunities without requiring manual intervention, allowing the system to self-regulate and respond to changing game conditions in real-time

Inventive Principle:

Principle #25Self-service

2Speed

If real-time automated odds calculation is implemented, then speed and accuracy of odds update improve, but system complexity and computational requirements worsen

Engineering Contradiction:

Improvespeed of odds updateVSAvoidcomplexity of automated system

Core Design Contradiction:

SpeedVSDevice complexity

Solution Approach 1:

The system pre-establishes mathematical models, algorithms, and computational frameworks before the game begins, so that when game events occur, the odds can be calculated and updated automatically and rapidly using pre-configured processing logic

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system continuously monitors game events and automatically updates odds in real-time without interruption, maintaining constant computational processing to ensure odds are always current and accurate as the game progresses

Inventive Principle:

Principle #20Continuity of useful action

3Productivity

If automated information processing is used, then productivity and manpower efficiency improve, but potential for human error correction is reduced

Engineering Contradiction:

Improveproductivity of odds calculationVSAvoidreliability of information accuracy

Core Design Contradiction:

ProductivityVSReliability

Solution Approach 1:

The system incorporates feedback mechanisms that continuously verify calculated odds against actual game events and outcomes, allowing for automatic correction of errors and continuous improvement of calculation accuracy through monitored performance data

Inventive Principle:

Principle #23Feedback

Data Source

PatentUS20230005323A1Real time parlay

Publication Date: 2023.01.05 CFPH LLC

AI summary

Various methods and apparatus related to parlay wagering are described. In some embodiments, real time parlay odds may be offered. Further embodiments are described.