System and method for spread betting on a participant in a group of events

A method, comprising:

• receiving, by at least one processor, a first bet at a first quote, the first bet having an associated first unit stake, the first quote corresponding with a total number of units that may potentially be earned by a participant in a plurality of events;
• after receiving the first bet, receiving, by the at least one processor, information about a final position of the particular participant in each of the plurality of events;
• calculating, by the at least one processor, a number of units earned by the participant in the plurality of events by determining, for each of the plurality of events, a number of units earned by the participant in the event based at least in part on the final position of the participant in the event and a purse distribution structure defining a distribution of a purse of units over a plurality of final positions in the event;
• and
• after determining the number of units earned by the participant, causing to be output, by the at least one processor, payout information for the first bet based at least in part on the first unit stake, the first quote, and the determined total number of units earned by the participant in the plurality of events.

An apparatus comprising:

• at least one processor;
• and
• a memory having instructions stored thereon that are configured to cause the at least one processor to:
• receive a first bet at a first quote, the first bet having an associated first unit stake, the first quote corresponding with a total number of units that may potentially be earned by a participant in a plurality of events;
• after receiving the first bet, receive information about a final position of the particular participant in each of the plurality of events;
• calculate a number of units earned by the participant in the plurality of events by determining, for each of the plurality of events, a number of units earned by the participant in the event based at least in part on the final position of the participant in the event and a purse distribution structure defining a distribution of a purse of units over a plurality of final positions in the event;
• and
• after determining the number of units earned by the participant, cause to be output payout information for the first bet based at least in part on the first unit stake, the first quote, and the determined total number of units earned by the participant in the plurality of events.

A non-transitory computer-readable medium having instructions stored thereon that are configured to cause at least one processor to:

• receive a first bet at a first quote, the first bet having an associated first unit stake, the first quote corresponding with a total number of units that may potentially be earned by a participant in a plurality of events;
• after receiving the first bet, receive information about a final position of the particular participant in each of the plurality of events;
• calculate a number of units earned by the participant in the plurality of events by determining, for each of the plurality of events, a number of units earned by the participant in the event based at least in part on the final position of the participant in the event and a purse distribution structure defining a distribution of a purse of units over a plurality of final positions in the event;
• and
• after determining the number of units earned by the participant, cause to be output payout information for the first bet based at least in part on the first unit stake, the first quote, and the determined total number of units earned by the participant in the plurality of events.