Wager Odds Calculation System for Real-Time Combination Bets
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Users face difficulties in calculating odds for combination wagers due to frequent changes in odds provided by bookmakers, making it challenging to determine favorable risk levels before odds become invalid.
Innovation Solution
A computer system that receives and calculates combined odds for various event outcomes, allowing users to select and visualize combinations of odds, enabling informed placement of combination wagers by automatically generating contracts based on chosen odds.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If users manually calculate odds for combination wagers, then they can determine favorable risk levels, but it is time-consuming and odds may change before calculations are complete
Solution Approach 1:
The system pre-calculates and stores all possible combination odds for multiple events and outcome types before the user needs to place a wager. When a user requests combination wager options, the pre-computed odds are immediately retrieved and displayed, eliminating calculation time and ensuring odds validity.
Solution Approach 2:
The system creates a digital copy of all possible wager combinations and their associated odds, allowing users to view and select from pre-computed combination options without performing manual calculations. This virtual representation of all possible bets enables instant access to accurate odds information.
2Loss of information
If the system provides all possible combination odds, then users can make informed wagering decisions, but the complexity of the system increases
Solution Approach 1:
The system segments the complex task of odds calculation by separating the computation phase (performed automatically in the background) from the presentation phase (displaying results to users). The interface is divided into event selection, outcome type selection, and results display sections, making the complex system manageable and user-friendly.
Solution Approach 2:
The system introduces an intermediary computational layer that automatically generates and stores combination odds data, mediating between the raw event odds from bookmakers and the user's wagering decisions. This intermediary layer handles the complexity of combinatorial calculations, presenting only the essential information to users.
3Adaptability or versatility
If odds are updated frequently by bookmakers, then the betting market remains dynamic and competitive, but users cannot complete their odds calculations before the odds become invalid
Solution Approach 1:
The system continuously monitors and updates odds from multiple bookmakers in real-time, maintaining a current database of available odds. This continuous data refresh ensures that the system always has the latest odds information to work with, adapting to market changes without requiring user intervention.
Solution Approach 2:
The system pre-calculates combination odds based on current bookmaker odds and stores them for immediate retrieval. By performing the calculation action in advance (before the user needs to place a bet), the system ensures that odds information remains valid and actionable even as market conditions change.
Data Source
AI summary
Users will often want to calculate odds for a variety of combinations of events to establish a favourable/desired amount of risk in order to place a wager. Regrettably, odds produced by bookmakers often change with sufficient frequency that it is not possible for a user to calculate all the possible odds for a variety of combinations of events before the odds produced by a bookmaker change, thus invalidating their calculations. The invention provides a computer system for enabling placement of wagers that calculates a plurality of combined odds, each of the combined odds comprising a combination of events with corresponding selected outcome types. In this way, users may place combination wagers on the outcomes of a combination of events in an informed manner; that is, being aware of the combined odds and alternative combined odds available.