Tiered payout gaming system and method
OwnerVache OURFALIAN, Nick PARKERinventors
Life of this patent
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Abstract
A sporting event wagering system for accepting auction bid amount for a plurality of sporting event participants and computing a prize purse from the collected winning auction bid amounts and assigning a payout to users owning a sporting event participant that wins one or more contests of a sporting event, the payouts assigned according to predefined payout rules that are optionally modifiable by the users.
Claims17
A method for storing a plurality of wager data from a plurality of individual users in a sporting event wagering game (i) non-volatile data storage, and (ii) a user device having a volatile data storage device, wherein the wager data for each individual wager includes an auction bid amount, a winning auction bid amount, a sporting event participant associated with the winning auction bid amount;
- a sporting event identifier, a prize purse and wager field, and a unique wager identifier, the method comprising:
- (a) storing the wager data for each of the individual users in the non-volatile data storage;
- (b) after an auction bid amount is stored in the non-volatile data storage, storing a part of the wager data for each of the individual wagers in the volatile data storage device, the stored portion of the wager data including at least (i) the auction bid amount and (ii) an associated sporting event participant associated with the auction bid amount;
- (c) generating in real time a user recommendation to the user concerning the auction bid amount for the associated sporting event participant according to a most recent auction bid and storing the user recommendation in volatile memory;
- (d) assigning a sporting event round payout for each of a plurality of sporting event rounds according to a predefined percentage of a total of funds received from winning auction bid amounts;
- (e) designating a final payout amount as a percentage of the prize purse for each user according to a performance result of the sporting event participant;
- and
- (f) transferring funds equal to the designated final payout amount to a designated financial account of each user.
A wagering system, comprising a wager platform having a wager server in communication with a plurality of user devices, the wager platform and user devices each having non-volatile memory devices and the user devices having volatile memory, comprising:
- a rules application program comprised of computer readable code under the control of a wager server processor, configured wherein execution of the computer readable code by the wager server processor performs the following steps:
- (a) storing the wager data for each of the individual users in the non-volatile data storage;
- (b) after an auction bid amount is stored in the non-volatile data storage, storing a part of the wager data for each of the individual wagers in the volatile data storage device, the stored portion of the wager data including at least (i) the auction bid amount and (ii) an associated sporting event participant associated with the auction bid amount;
- (c) generating in real time a user recommendation to the user concerning the auction bid amount for the associated sporting event participant according to a most recent auction bid and storing the user recommendation in volatile memory;
- (d) assigning a sporting event round payout for each of a plurality of sporting event rounds according to a predefined percentage of a total of funds received from winning auction bid amounts;
- (e) designating a final payout amount as a percentage of the prize purse for each user according to a performance result of the sporting event participant;
- and
- (f) transferring funds equal to the designated final payout amount to a designated financial account of each user.
Dependencies are inferred from the claim text.