Multi-person parimutuel betting games based on sporting events

A computerized method of playing a parimutuel betting game between a plurality of players, said parimutuel betting game based on events unfolding during a live sporting event, a principal objective of the game being to acquire the largest number of betting tokens by the end of the sporting event, wherein the players are in direct competition with each other because each player's winnings come from other players' losses, the game being administered by an administrator, comprising:

• providing a host processor, said host processor programmed for analyzing and processing input data and outputting data and information relevant to the parimutuel betting game;
• interactively connecting a plurality of player processors to said host processor, said player processors programmed for playing the parimutuel betting game, each said player processor having a display means operatively associated therewith for displaying data received from said host processor and for entering data and sending data to said host processor;
• interactively connecting an administrative processor to said player processors via said host processor, said administrative processor programmed for administering the parimutuel betting game, said administrative processor having a display means operatively associated therewith for displaying data received from said host processor and for entering data and sending data to said host processor;
• displaying an administrator browser page on said display means of said administrative processor;
• displaying a player browser page on said display means of each said player processor;
• using said processors to allocate betting tokens to each of the players prior to commencement of said sporting event;
• the administrator monitoring said sporting event for situations giving rise to bettable events;
• the players and the administrator using said browser pages and said processors to conduct a plurality of betting events, each said betting event based on a bettable event occurring during said sporting event, each said step of conducting a betting event comprising:
• the administrator selecting a betting event from said bettable events;
• administering at least one betting line for said betting event, each said step of administering a betting line comprising:
• the administrator using said administrative browser page to open a betting line for said betting event, said betting line based on a finite set of possible outcomes of said betting event;
• upon the administrator opening a new betting line, said administrative processor sending a betting line identifier and a bonus amount for said new line to said host processor;
• upon receiving said betting line identifier for said new line, said host processor opening a new betting line;
• displaying betting event information for said open betting line on said display means of said player processors,
• allowing the players an amount of time within which to use said player browser pages to selectively bet tokens on said possible outcomes of said betting event;
• for each bet placed by a player on a betting line, sending data concerning said bet to said host computer for processing, said data including a player identification, a betting line identification, a betting choice identification, and an amount bet;
• freezing tokens bet on said open betting line such that said frozen tokens are not available for further betting until a payoff has been made on said betting event;
• displaying updated betting event information for each said betting line on said player browser pages;
• the administrator closing said betting line after a selected interval such that no further tokens may be bet on said line;
• upon the administrator closing said new line, said administrative processor sending said line identifier for said new line to said host processor;
• upon receiving said betting line identifier, said host closing said new betting line such that no further bets can be placed on said line;
• the administrator monitoring said sporting event until a termination event occurs with regard to said betting event;
• terminating said betting event upon occurrence of said termination event for said betting event;
• upon the administrator terminating said betting event for said new line, said administrative processor sending said line identifier and a winning choice identification to said host processor for calculating said parimutuel payoff on said new line;
• upon termination of each said betting event, paying off winners of each said betting line in said betting event in parimutuel style, said payoffs being determined and processed by said host processor;
• performing updates on a periodic basis wherein said host processor sends data to all the player processors and said administrative processor reflecting changes to said browser pages;
• and
• repeating said process of selectively conducting betting events until the sporting event has concluded.

A system for playing a parimutuel betting game between a plurality of players, said parimutuel betting game based on events unfolding during a live sporting event, a principal objective of the game being to acquire the largest number of betting tokens by the end of the sporting event, wherein the players are in direct competition with each other because each player's winnings come from other players' losses, the game being administered by an administrator, comprising:

• a host processor programmed for analyzing and processing input data and outputting data and information relevant to the parimutuel betting game;
• a plurality of player processors interactively connected to said host processor, said player processors programmed for playing the parimutuel betting game;
• an administrative processor interactively connected to said player processors via said host processor, said administrative processor programmed for administering the game based on input from the administrator;
• a display means operatively associated with each said player processor for displaying data received from said host processor, and for entering data and sending data to said host processor;
• a display means operatively associated with each said administrative processor for displaying data received from said host processor, and for entering data and sending data to said host processor,
• said processors programmed to:
• allocate betting tokens to each said player processor prior to commencement of said sporting event;
• open and conduct a plurality of betting events, each said betting event based on a bettable event occurring during said sporting event, said betting events being selectable by the administrator;
• open a plurality of betting lines for each said bettable events, each said betting line based on a finite set of possible outcomes of said betting event, said betting lines being selectable by the administrator;
• receive and process bets of tokens placed by the players on said possible outcomes of said betting event on each betting line opened during the game;
• freeze tokens bet on each said open line such that said frozen tokens are not available for further betting until a payoff has been made on said betting event;
• close each said open betting line after a selected interval, said interval being selected by the administrator, such that no further tokens may be bet on said line;
• terminate said betting event upon occurrence of a termination event for said betting event;
• upon termination of said betting event, pay off winners of each said betting line in said betting event in parimutuel style.