Enhanced parimutuel wagering
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United States of America Patent
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Feb 5, 2013
Grant Date -
Apr 7, 2011
app pub date -
Oct 5, 2010
filing date -
Jul 21, 1999
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Methods and systems for engaging in enhanced parimutuel wagering and gaming. In one embodiment, different types of bets can be offered and processed in the same betting pool on an underlying event, such as a horse or dog race, a sporting event or a lottery, and the premiums and payouts of these different types of bets can be determined in the same betting pool, by configuring an equivalent combination of fundamental bets for each type of bet, and performing a demand-based valuation of each of the fundamental bets in the equivalent combination. In another embodiment, bettors can place bets in the betting pool with limit odds on the selected outcome of the underlying event. The bets with limit odds are not filled in whole or in part, unless the final odds on the selected outcome of the underlying event are equal to or greater than the limit odds.
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