# US 2013/0157750 A1 · System and method for spread betting on a participant in a group of events > Agents: this data is available as JSON from the patentgrep API and MCP server — see https://patentgrep.com/llms.txt - Number: US 2013/0157750 A1 - Document ID: US20130157750A1 - Status: Published application - Kind: A1 - Application number: 13/615,914 - Filed: 2012-09-14 - Published: 2013-06-20 - Earliest claimed: 2003-03-31 - Inventors: Lee M. Amaitis; Joseph M. Asher; Adam Burgis; Dominic Crosthwaite - Web page: https://patentgrep.com/patent/US20130157750A1 ## CPC - G07F 17/3244: {Payment aspects of a gaming system, e.g. payment schemes, setting payout ratio, bonus or consolation prizes} - G06Q 99/00: Subject matter not provided for in other groups of this subclass - G07F: COIN-FREED OR LIKE APPARATUS (coin sorting G07D3/00; coin testing G07D5/00; {handling coins or paper currencies apart from payment activated apparatus G07D; payment architectures, schemes or protocols G06Q20/00}) - G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR ## Abstract A method of managing bets includes receiving a first bet at a first quote, the first bet having an associated first unit stake, the first quote corresponding with the total number of units potentially earned by a participant in a plurality of events. Results of each of the plurality of events are received, which may include the positioning of the particular participant in each of the plurality of events. The total number of units earned by the participant in the plurality of events may be determined based at least in part on the results of each of the plurality of events. An amount of a payout for the first bet may be determined based at least in part on the first unit stake, the first quote, and the total number of units earned by the participant in the plurality of events. ## Claims ### Claim at position 1 1-23. (canceled) ### Claim 24 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. ### Claim 25 (depends on 24) The method of claim 24, further comprising: providing a spread quote comprising an upper index number and a lower index number, both the upper index number and the lower index number associated with a total quantity of units that may potentially be earned by the participant in the plurality of events; wherein the first quote comprises the upper index number and the first bet comprises a bet that the total number of units earned by the participant will be greater than the upper index number; and receiving a second bet that the total number of units earned by the participant will be less than the lower index number. ### Claim 26 (depends on 24) The method of claim 24, wherein the number of units earned by the participant comprises a total amount of money earned by the participant in the plurality of events. ### Claim 27 (depends on 24) The method of claim 24, wherein the plurality of events comprises a plurality of horse races and the plurality of participants comprises a plurality of jockeys. ### Claim 28 (depends on 24) The method of claim 24, wherein the plurality of events comprises a plurality of races and the plurality of participants comprises a plurality of drivers. ### Claim 29 (depends on 24) The method of claim 24, wherein the first bet comprises a bet that the total number of units earned by the participant will be one of (1) greater than the first quote and (2) less than the first quote. ### Claim 30 (depends on 24) The method of claim 24, wherein determining the payout for the first bet comprises multiplying the unit stake by the difference between the first quote and the total number of units earned by the participant in the plurality of events. ### Claim 31 (depends on 24) The method of claim 24, further comprising, after one or more of the plurality of events has occurred, receiving a second bet defined at least by a second unit stake and a second quote, the second quote corresponding with a total number of units that may potentially be earned by the participant in the plurality of events excluding the one or more events that have occurred. ### Claim 32 (depends on 31) The method of claim 31, wherein the first bet and the second bet are received from a first user, and wherein the combination of the first bet and the second bet guarantee a positive payout to the first user regardless of the total number of units earned by the particular participant in the plurality of events. ### Claim 33 (depends on 31) The method of claim 31, further comprising, after one or more of the plurality of events has occurred: receiving a request to settle the first bet; and determining an amount of a settlement payment for the first bet based at least in part on the first unit stake, the first quote, and the second quote; paying out the settlement payment; and canceling the first bet. ### Claim 34 (depends on 24) The method of claim 24, further comprising, after one or more of the plurality of events has occurred: receiving a request to settle the first bet; determining an amount of a settlement payment for the first bet based at least in part on the first unit stake, the first quote, and the final position of the participant in each of the one or more events that has occurred; paying out the settlement payment; and canceling the first bet. ### Claim 35 (depends on 24) The method of claim 24, wherein the plurality of events occur over a period of time greater than one week. ### Claim 36 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. ### Claim 37 (depends on 36) The system of claim 36, wherein the memory is further operable to store: a spread quote comprising an upper index number and an lower index number, both the upper index number and the lower index number associated with the total number of units that may potentially be earned by the participant in the plurality of events; wherein the first quote comprises the upper index number and the first bet comprises a bet that the total number of units earned by the participant will be greater than the upper index number; and a second bet comprising a bet that the total number of units earned by the participant will be less than the lower index number. ### Claim 38 (depends on 36) The system of claim 36, wherein the first bet comprises a bet that the total number of units earned by the participant will be one of (1) greater than the first quote and (2) less than the first quote, and wherein the payout information is determined by multiplying the unit stake by the difference between the first quote and the total number of units earned by the participant in the plurality of events. ### Claim 39 (depends on 36) The system of claim 36, wherein the memory is further operable to store a received second bet defined at least in part by a second unit stake and a second quote, the second quote corresponding with the total number of units potentially earned by the participant in the plurality of events excluding each of one or more of the plurality of events that has occurred. ### Claim 40 (depends on 39) The system of claim 39, wherein the first bet and the second bet are received from a first user, and wherein the combination of the first bet and the second bet guarantee a positive payout to the first user regardless of the total number of units earned by the particular participant over the course of the plurality of events. ### Claim 41 (depends on 39) The system of claim 39, wherein the processor is further operable to perform the following functions for a particular participant bet after one or more of the plurality of events has occurred: receive a request to settle the first bet; and determine an amount of a settlement payment for the first bet based at least in part on the first unit stake, the first quote, and the second quote; and cancel the first bet. ### Claim 42 (depends on 36) The system of claim 36, wherein the processor is further operable to perform the following functions for a particular participant bet after one or more of the plurality of events has occurred: receive a request to settle the first bet; determine an amount of a settlement payment for the first bet based at least in part on the first unit stake, the first quote, and the final position of the participant in each of the one or more events that has occurred; and cancel the first bet. ### Claim 43 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.