System and method for betting on a subset of participants in an event wherein betting parameters may change over time
US7311606B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 22, 2004 |
| Grant date | Dec 25, 2007 |
| Priority date | — |
| Expiry date | Jan 19, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F17/3288
- WIPO fieldControl
- WIPO sectorInstruments
Abstract
A method of managing bets is provided. The method includes identifying a set of participants in an event and receiving a group bet for the event. The group bet comprises a bet that one of an undefined subset of the set of participants will win the event. The undefined subset of participants associated with the group bet is defined at some time after receiving the group bet by determining participants for the subset of participants. For example, the undefined subset of participants may be defined after the close of betting on the event. Results of the event that identify a winning participant are received, and an amount of a group bet payout for the group bet is determined based at least on whether the defined subset of participants includes the winning participant.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.