Security pari mutuel betting
The system places all wagers in a pari-mutuel pool and calculates new odds based on the size of each bet. It pays out based on the finishing position of each item in the pool. The same method could also be used for any group of items that have a price or index, or other numerical value that fluctuates over time. This filing is yet another addition to the portfolio of intellectual property Esports Technologies has built in less than a year. In August , the company filed a provisional patent application for a technology that uses artificial intelligence to generate odds models for use in a betting algorithm for esports tournaments and various stages of a tournament.
Equipment provided at a licensed facility allowed wagering consumers to place wagers there and have their bets placed into the facility's pari-mutuel pool. With the initial form of simulcast pari-mutuel wagering, a licensed simulcast operator had a direct communication link to the facility where the event was being conducted so that the wagers generally became part of the facility's pari-mutuel pool and the payout to the winners was the same as that paid out at the facility itself. In the late 's, the reach of legal gambling on pari-mutuel events, specifically horse racing, was dramatically expanded when it became possible, and legal, for advance account wagering services to set up funded accounts for wagering consumers and to accept bets over the phone or Internet for pari-mutuel wagering events at any facility hosting a pari-mutuel event.
An account is set up and maintained by a licensed Advance Deposit Wagering ADW Company and the wagering consumer is assigned a unique account identifying user name or account number and password or pin to access his ADW Company account. When the wagering consumer makes a wager, and before the wager is placed with the facility's main pool, confirmation that there are sufficient funds to cover the wager is received by the ADW Company, and the wagering consumer can place bets on a pari-mutuel event at any originating pari-mutuel facility, which by agreement permits the ADW Company to accept wagers on its events.
The wagering consumer can place his wager against his ADW account by using a hard line phone, cellular or mobile phone, web enabled phones, personal data assistant PDA or other devices as well as a computer via the Internet. The amount of the wager is deducted from his account and, if the bet is successful, his account is credited with the pari-mutuel odds payout.
The ADW Company has reliable, fast communications links with the originating pari-mutuel event facility so that wagers made through the ADW Company are made part of the originating facility's pari-mutuel pool. By contract, the ADW Company receives a portion of the takeout for originating the wager. Thus, through the use of a telephone, internet or other communication device and an ADW account, a wagering consumer can wager on a variety of pari-mutuel events at a variety of originating pari-mutuel facilities, from a number of public and private locations.
The use of an audio phone is disadvantageous, however, in that the handicapping information such as, in a thoroughbred race, the horse's prior starts, bloodlines, and even jockey available to the wagering consumer is limited or non-existent. The use of video phones, while known in the art, are prohibitively expensive and of generally low speed communications so that the download of handicapping information, while existent, is not practical.
A high speed video connection to a pari-mutuel event originating facility is clearly desirable over a purely audio communication link to the facility. As set forth above, the wagering consumer's account is credited or debited, depending on the success of the bet. Efficient communication between the ADW Company and the originating pari-mutuel event facility make it possible for all wagers, whether placed remotely through the ADW Company or physically at the originating facility can be placed into a single pari-mutuel pool at the originating facility.
This is important from the standpoint that it eliminates confusion as to the payout and because it increases the handle for the originating facility, which bears the cost of putting on the event. While the explosion of cell phone use has made it possible to place wagers on pari-mutuel events from virtually anywhere through ADW accounts the limitations of communicating over cell phones carry significant disadvantages.
For example, the vast majority of cell phones are not presently equipped with high speed video communications so that a wagering consumer cannot generally receive a video feed of the event upon which he has wagered. In addition, using a telephone keypad to select and enter account information, followed by facility selection, event selection, and wager selection win, place, show, exacta, trifecta, etc.
A computer having a high speed Internet connection and a graphic operating system allow a wagering consumer to bet using their ADW account by clicking on facility location, event selection, horse or participating player, and other information. The present invention addresses the disadvantages of the prior art by providing a betting kiosk at a fixed location with a high speed communication link.
The kiosk is beneficial in that it brings a legal wagering event to consumers in a non-licensed facility. It allows consumers to easily make wagers in a facility without the involvement of the facility in the wager transaction. The betting kiosk is user friendly, with instructions on how to open and maintain an Advance Deposit Wagering account, and has dedicated keys to allow a user to easily and quickly select a facility e.
The kind of wager and amount are then easily entered. Finally, once the bet is placed, the kiosk affords the wagering consumer an opportunity to watch the event upon which he has bet by virtue of a display of a video feed from the facility over a high speed streaming video communication link.
The kiosk has high quality video resolution provided by state of the art video cards and monitors. An audio feed is also provided to give the wagering consumer the facility's announcer's call of the race, which is particularly advantageous if the video monitor is small or if the video feed is bumpy or slow, because the audio feed is not bumpy or slow. By simply providing access to Advance Deposit Wagering accounts through the kiosk, the present invention is compliant with state and federal law regarding pari-mutuel wagering , while also bringing the opportunity to wager on pari-mutuel events to public locations that are not currently licensed to accept wagers.
This is particularly advantageous for sports bars, restaurants, and other public retail locations that can now provide an additional entertainment option to their customers and as a tool to acquire and retain additional customers, who have or may have an interest in pari-mutuel events and legal United States based wagering. Making pari-mutuel wagering more accessible and convenient in this manner is also advantageous to the thoroughbred racing and breeding industry by increasing participation in pari-mutuel wagering, thereby providing improved outlets and greater distribution for their product.
The high speed Internet connection allowing for real time display of the pari-mutuel event and the facility's event card provides a wagering consumer more information regarding the event participants and a greater knowledge base to make a wager, then watch the event, at any location, public or private, licensed or unlicensed. Objects of the Invention It is an object of the present invention to provide a method for placing legal wagers on pari-mutuel events from public or private locations without a wagering or gaming license.
It is another object of the present invention to provide a method for placing wagers on pari-mutuel events providing real time video and audio display of facility conditions, odds and races bet upon. It is yet another object of the present invention to provide a method for placing wagers on pari-mutuel events using advance deposit wagering accounts and providing real time video and audio of display of events bet upon. It is a further object of the present invention to provide a method for wagering on pari-mutuel events using secure, high speed communications with the originating pari-mutuel facility to provide streaming audio and video to remote betting kiosks.
It is a further object of the present invention to provide a device for betting on pari-mutuel events comprising a betting kiosk having simple access and instructions on how to set up and use advance deposit wagering accounts. It is yet another object of the present invention to provide a betting kiosk having high speed communications provisions allowing real time display of video and audio of facility conditions, odds and the pari-mutuel events themselves. It is a further object of the present invention to provide a betting kiosk having secure access to advance deposit wagering accounts allowing wagering consumers to place wagers on pari-mutuel events.
It is another object of the present invention to provide a fixed betting kiosk in a public or private, unlicensed facility for receiving advance deposit wagering account wagers and displaying video and audio output from the originating pari-mutuel facility.
It is yet another object of the present invention to provide a betting kiosk having provisions for accessing archived video of completed pari-mutuel events in which current competitors have competed to allow wagering customers to become more fully informed in making wagers on pari-mutuel events.
It is another object of the present invention to provide a betting kiosk having a security interlock switch to automatically log off users when they walk away from the kiosk. It is a further object of the present invention to provide a betting kiosk having a user keyboard for placing wagers and a receipt generator for printing out confirmation receipts of the wagers.
It is yet another object of the present invention to provide a method for accepting wagers on pari-mutuel events at facilities not having a gaming license. It is a further object of the present invention to provide a method for conducting the business of wagering on pari-mutuel events by providing a convenient and accessible opportunity in locations that that do not have a gaming license to set up advance deposit wagering accounts and to take wagers using ADW accounts on pari-mutuel events.
These and other objects and advantages of the present invention will be apparent from a review of the following specification and accompanying drawings. The wagering consumer can also view video of the pari-mutuel event wagered upon at the unlicensed public location. The invention also provides a consumer an opportunity to watch pari-mutuel events even if they have not wagered on the event. The steps of the business method are to first, provide a betting kiosk having user input capacity and video and audio display capacity.
The next step is to provide a high speed dedicated communication link from the betting kiosk to an advance deposit wagering company to communicate wager information from the kiosk to the advance deposit wagering company. The business method also provides a secure authorization means for a user to access an advance deposit wagering account.
The next step in the method is the communicating of video and audio feeds generated at a pari-mutuel wagering facility to the betting kiosk. The business method next provides simple instructions to a user at the kiosk on how to set up and access an advance deposit wagering account at the betting kiosk. Finally the business method of the present invention contemplates the step of placing the betting kiosk in a lawfully compliant location open to the public.
The most preferred embodiment of the business method of the present invention further comprises the step of providing a security interlock cutoff so that when a wagering consumer walks away from the betting kiosk, the transactions in the wagering consumer's account are terminated automatically. In addition, the method of the present invention further comprises the step of communicating daily facility schedule card information from a pari-mutuel facility to the betting kiosk.
Another embodiment of the present invention provides a betting kiosk for use in any licensed or unlicensed facility wherein a user input device is provided to confirm advance deposit wagering account information. The kiosk also has means for selecting the video, audio, data stream from a desired pari-mutuel facility, and means for displaying the video, audio, data stream from the desired facility.
The kiosk of the present invention has means for communicating bet information to the desired pari-mutuel facility through the advance deposit wagering company, such that a bet is placed into an appropriate parimutuel pool. The preferred embodiment of the betting kiosk further comprises a high speed communication link to an advance deposit wagering company, and a security pad positioned adjacent said betting kiosk requiring wagering consumer presence thereon in order to stay logged in to the advance deposit wagering account.
A method for conducting the business of wagering on pari-mutuel events is also provided comprising the steps of placing a user friendly betting kiosk for receiving wagers in a public place not licensed as a gaming location. Next, a communications network between the kiosk and the pari-mutuel facility's pari-mutuel pool is provided so that wagers at said betting kiosk are included in said pari-mutuel pool. The business method of the present invention providing for the placement of a user friendly kiosk further comprises placing a betting kiosk having a video display for providing simple, prompt driven instruction to wagering consumers on how to set up an advance deposit wagering account and how to place bets after the advance deposit wagering account is set up.
The preferred embodiment of the business method further comprises placement of a user friendly betting kiosk. The method further comprises the step of placing a betting kiosk having a video display for providing video depiction of a pari-mutuel event regardless of whether or not there has been a wager placed on the event. The betting kiosk 10 merely requires power and a high speed Internet communication link 12 to place wagers and receive information from the originating facility as set forth in more detail herein.
In the preferred embodiment of the present invention, the betting kiosk 10 is located in a public place accessible to the public to place wagers on pari-mutuel events such as horse races. By so locating the betting kiosk 10, it provides a method for conducting the business of wagering on pari-mutuel events, such as thoroughbred, harness, trotting and greyhound races plus games of jai alai, conveniently accessible to a large segment of the population that would not otherwise be able or inclined to participate in placing wagers on legal pari-mutuel wagering events such as the races and jai alai described above.
Although the preferred embodiment of the present invention contemplates its use with any pari-mutuel facility, it is most illustrative to describe its operation in terms of horse race betting, although the principles of the present invention may be extended to, and specifically contemplate, the use in any form of pari-mutuel wagering, including without limitation horse races, dog races and Jai Alai.
The betting kiosk 10 is accessible to those experienced in pari-mutuel wagering who have an advanced deposit wagering account already set up. For those wagering consumers, the betting kiosk 10 is designed to prompt and accept account identification information to confirm the account information and balance via communication with an advance deposit wagering company. Upon confirmation of identity and account balance information, the betting kiosk 10 then visually prompts the wagering consumer to select a facility at which a wager is to be placed.
When the facility has been identified by the wagering consumer, the Advance Deposit Wagering Company procures data from the facility including, typically, audio and video feeds and a schedule card via a high speed communication link The data is then communicated to the wagering consumer at the kiosk 10 via a high speed communication link 15, the data comprising with a screen depicting the schedule card at the selected facility and an audio and video feed from the facility.
In addition, archived audio, video and text results of prior events may be stored, either by the Advance Deposit Wagering Company or by the selected facility, such archives being available to wagering consumers for handicapping purposes.
The wagering consumer then selects the event upon which he wishes to place a wager, and the wagering consumer then is presented with a listing of the participants in the field for that event. The wagering consumer is then prompted to select a type and amount of wager. If the wagering consumer is placing a multi-race or multi-horse wager such as an exacta, trifecta, superfecta or box or wheel bet, the wagering consumer is prompted to enter each leg of the bet.
The wagering consumer then confirms the type and amount of wager, horses and race s selected and, when the wagering consumer is sure the bet is correct, clicks on a SUBMIT BET button. The betting kiosk 10 is also accessible to new users and provides an initial SET UP account screen 17 for users that do not have an advance wagering account already set up.
The new users age and residency is then confirmed via a reporting agency. Once it is confirmed that the user is a resident of a state where it is legal to have an advance deposit wagering account and that they are of a legal age in that state, the account is created and they are provided with a unique account identifying number.
When the account is successfully set up, the betting kiosk 10 will prompt the new user to make a deposit of funds into the account via their checking account or from a debit or credit card. The use of advance deposit wagering accounts as a means for placing wagers on pari-mutuel events, such as horse races and Jai-Alai, is well known.
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BASEBALL BETTING PICK OF THE DAY
In contrast, fixed-odds wagers are determined by an oddsmaker. As a result, pari-mutuel wagers fluctuate until post-time, even after bettors place their wagers. In comparison, the payouts on fixed-odds wagers remain fixed in place after bettors submit their bets. How do pari-mutuel wagering odds work?
Racetracks post pari-mutuel wagering odds as fractions that represent the ratio of the amount the bettor stands to win versus how much they must risk. Bettors can read more about horse racing odds here: Horse Racing Odds Explained How much commission do tracks keep from pari-mutuel wagering pools? The track take-out varies by track, type of wager, and location of the originating bet.
Typically, straight bets involve less take-out than exotics. Where is pari-mutuel wagering legal? Pari-mutuel wagering is legal in most states. Trifecta: The bettor must correctly pick the three runners which finish first, second, and third, in the correct order introduced on 26 May , replacing Trio which allowed any order.
Multiple races Jackpot: A Pick 4 bet on races 3—6 at every meeting. Pick Six: On races 1—6 at one meeting on all Sundays and occasionally on other days introduced on 9 January Placepot: The better must correctly pick one horse to place in each of the races 2—7.
Bet types for harness racing trotting : Single race Vinnare winner : Runner must finish first. Plats place : Runner must finish within the first two places up to five runners or first three places six runners or more. Asking for a bet of "50 SEK vinnare och plats" costs SEK Tvilling twin : The bettor must pick the runners that finish first and second, but need not specify which will finish first. Trio trio : The bettor must pick the runners that finish first, second and third in a nominated race.
Multiple races Dagens Dubbel daily double and Lunchdubbel lunch double : The bettor must pick the winners of two nominated races at the same track. V3: The bettor must pick the winners of three nominated races at the same track. Unlike V4, V5, V65 and V75, where a bet for all races must be made before the start of the first race, in V3 the bettor selects the winner one race at a time.
V4: The bettor must pick the winners of four nominated races at the same track. V5: The bettor must pick the winners of five nominated races at the same track. V The bettor must pick the winners of six nominated races at the same track.
Return is also given for combinations of five correctly picked winners, even if the same bet included all the six winners. Return is also given for combinations of five or four correctly picked winners, even if the same bet included more correct picks. V The bettor must pick the winners of seven nominated races at the same track. Return is also given for combinations of six or five winners picked correctly, even if the same bet included more correct picks. V The bettor must pick the winners of eight nominated races at the same track.
Return is also given for combinations of seven or six winners picked correctly, even if the same bet included more correct picks. Place: Select correctly the 1st, 2nd or 3rd horse in a race with 7 or more declared starters, alternatively select correctly the 1st or 2nd in a race where there are 4 to 6 declared starters. Quinella: Select correctly the 1st and 2nd horses in any order in a race.
Quinella Place: Select correctly any two of the first three placed horses in any order in a race. Tierce: Select the 1st, 2nd and 3rd horses in the correct order in a race. Trio: Select correctly the 1st, 2nd and 3rd horses in any order in a race. Quartet: Select correctly the 1st, 2nd, 3rd and 4th in correct order in a race First 4: Select correctly the 1st, 2nd, 3rd and 4th horses in any order in a race.
Multiple races Double: Select correctly the 1st horse in each of the two nominated races. There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in the first nominated race and the 2nd horse in the second nominated race.
Treble: Select correctly the 1st horse in each of the three nominated races. There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in the first two Legs and the 2nd horse in the third Leg of the three nominated races. Double Trio: Select correctly the 1st, 2nd and 3rd horses in any order in each of the two nominated races. Triple Trio: Select correctly the 1st, 2nd and 3rd in any order in each of the three nominated races.
There is a consolation prize given under the conditions that the player has selected correctly the 1st, 2nd and 3rd horses in any order in the first two Legs of the three nominated races. Six Up: Select correctly the 1st or 2nd horse in each of the six nominated races. There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in each of the six nominated races. For example, betting 1, yen to Each-way means betting yen to Win and yen to Place-Show.
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