Sports betting system and method of using the same
OwnerReece Markman, Jared Leidnerinventors
Life of this patent
Estimating the term…
Abstract
A system and method for sports betting, permitting parlay bets to win even when one or more legs of the parlay bet lose by determining an aggregate amount by which each of the two or more legs of the parlay bet have exceed or fail to reach a pre-established point spread or value associated with each leg of said parlay bet and awarding a payout when said amount is positive. Side bets, bonuses, weight factors and multipliers may be incorporated. An award may require an aggregate amount to meet a positive threshold amount.
Claims23
A system for paving a parlay bet when less than all legs of said parlay bet win, comprising:
- a user interface;
- a processor running executable instructions;
- a memory device storing said executable instructions allowing said processor to:
- (i) receive a monetary bet;
- (ii) receive two or more legs of a parlay bet via said user interface;
- (iii) create a record of said parlay bet including a potential payout;
- (iv) evaluate said parlay bet once said two or more legs of said parlay bet have been decided to determine a positive or negative outcome value by which each leg of said two or more legs of said parlay bet exceeds or fails to exceed, respectively, a pre-established point spread or value associated with each leg of said two or more legs of said parlay bet and sum said outcome value for each leg of said two or more legs of said parlay bet to determine a total outcome value for all legs of said parlay bet;
- and (v) award a payout when said total outcome value for all legs of said parlay bet is positive;
- and
- a data entity configured to provide said processor with access to results of said two or more legs of said parlay bet for evaluation under step (iv).
A system for paving a parlay bet when less than all legs of said parlay bet win, comprising:
- a user interface configured to allow a player to place a monetary parlay bet on results of two or more future events, said one or more future events comprising one or more of the following:
- sporting events, fantasy point projections and stock value projections;
- a processor running executable instructions;
- a memory device storing said executable instructions allowing said processor to:
- (i) create a record of said parlay bet including a potential payout;
- (ii) collect or receive said results of said two or more future events;
- (iii) determine positive or negative outcome value by which each future event of said two or more future events exceeds or fails to exceed, respectively, a pre-established point spread or value associated with each future event of said two or more future events and sum said outcome value for all future events of said two or more future events to determine a total outcome value;
- and (iv) award a payout when said total outcome value for all future events of said two or more future events is positive;
- and
- a data entity configured to provide said processor with access to results of said two or more future events under step (ii).
A method for paving a parlay bet when less than all legs of said parlay bet win, comprising:
- via a user interface, receiving a monetary bet;
- via said user interface, receiving two or more legs of a parlay bet;
- printing or digitally storing a record of said parlay bet including a potential payout;
- via a processor, evaluating said parlay bet once said two or more legs of said parlay bet have been decided;
- via said processor, determining a positive or negative outcome value by which each leg of said two or more legs of said parlay bet exceeds or fails to exceed, respectively, a pre-established point spread or value associated with each leg of said two or more legs of said parlay bet and summing each outcome value of each leg of said two or more legs of said parlay bet to determine total outcome value;
- via said processor, awarding a payout when said total outcome value of each leg of said two or more legs of said parlay bet is positive;
- and
- a data entity configured to provide said processor with access to results of said two or more legs of said parlay bet for evaluating said parlay bet once said two or more legs of said parlay bet have been decided.
Dependencies are inferred from the claim text.