Method for pari-mutuel wagering

A system for allowing a plurality of players to form a pari-mutuel pool, by making pari-mutuel wagers on previously-run, order-of-finish contests (PROOFCs), each of which has a specified race condition, a plurality of contestants and an order-of-finish result, and wherein for each of a plurality of rounds of said wagering on said PROOFCs requires a first player of the plurality of players to make contestant selection choices and place wagers of a defined monetary amount from a balance of funds available to said first player, from which an appropriate payout is made to said first player whose contestant selections are correct, said system comprising:

• a networked totalisator including a processor and a first memory device configured to store totalisator control software, executable by said processor;
• a plurality of networked wagering terminals, each of the wagering terminals including a display device configured to display a screen interface, a terminal processor, and a second memory device configured to store terminal control software, executable by said terminal processor;
• and
• a database storing said race conditions, the number of said plurality of contestants, and the order-of-finish results applicable to each of said PROOFCs;
• wherein said terminal control software and said totalisator control software include instructions that cause said networked wagering terminals to:
• (a) provide to each of said players a PROOFC on which said players may wager, (b) establish a terminal-specified, pari-mutuel pool on which each of said players may wager, (c) receive from each of said players said contestant selection choices and said wagers, (d) display to each of said players a pertinent PROOFC order-of-finish result and said appropriate payout applicable to said contestant selection choices of said players, and (e) dispense, from said pari-mutuel pool, said appropriate payouts to each of said players;
• wherein said database further stores a selected collection of said PROOFCs for use by said system that yields a controlled wagering experience for said players which is defined as having an average variability of the wagering results achieved by said players for said selected collection and a financial return on the wagers of said players when wagering on said selected collection that are both within a range of acceptable values;
• and
• wherein said totalisator control software and said terminal control software further include instructions that cause said networked wagering terminals to provide said players with the ability to configure and customize the appearance and operation of said screen interfaces of networked terminals being used by said players, wherein said customization includes providing said players with options including:
• (a) configuring said screen interface so as to select between a traditional or a graphically-entertaining interface, (b) electively placing a wager on each of said PROOFCs in said collection, (c) wagering in an additional, optional pool, rather than solely in a mandatory pool, (d) electively viewing said race conditions pertaining to a specific PROOFC, (e) personally handicapping a specific PROOFC on which said players are considering placing a wager, and (f) utilizing a third-party handicapping tool to assist said players in handicapping a PROOFC.

A non-transitory, computer-readable medium storing instructions that, when executed causes a network that includes a totalisator and a plurality of wagering terminals to allow a plurality of players to form a pari-mutuel pool, by making pari-mutuel wagers on previously-run, order-of-finish contests (PROOFCs), each of which has a specified race condition, a plurality of contestants and an order-of-finish result, and wherein for each of a plurality of rounds of said wagering on said PROOFCs requires a first player of the plurality of players to make contestant selection choices and place wagers of a defined monetary amount from a balance of funds available to said first player, from which an appropriate payout is made to said first player whose contestant selections are correct, said instructions on said medium comprising the steps of enabling said network to:

• utilize a database of said race conditions, the number of said plurality of contestants, and the order-of-finish results applicable to each of said PROOFCs;
• wherein said networked totalisator including said processor and a first memory device configured to store totalisator control software, executable by said processor;
• wherein each of said plurality of networked wagering terminals including a display device configured to display a screen interface, a terminal processor, and a second memory device configured to store terminal control software, executable by said terminal processor;
• utilize said terminal control software and said totalisator control software to cause said networked wagering terminals to:
• (a) provide to each of said players a PROOFC on which said players may wager, (b) establish a terminal-specified, pari-mutuel pool on which each of said players may wager, (c) receive from each of said players said contestant selection choices and said wagers, (d) display to each of said players a pertinent PROOFC order-of-finish result and said appropriate payout applicable to said contestant selection choices of said players, and (e) dispense, from said pari-mutuel pool, said appropriate payouts to each of said players;
• assemble a selected collection of said PROOFCs that yields a controlled wagering experience for said players which is defined as having an average variability of the wagering results achieved by said players for said selected collection and a financial return on the wagers of said players when wagering on said selected collection that are both within a range of acceptable values;
• and
• further utilize said totalisator control software and said terminal control software to cause said networked wagering terminals to provide said players with the ability to configure and customize the appearance and operation of said screen interfaces of the networked terminals being used by said players, wherein said customization includes providing said players with options including:
• (a) configuring said screen interface so as to select between a traditional or a graphically-entertaining interface, (b) electively placing a wager on each of said PROOFCs in said collection, (c) wagering in an additional, optional pool, rather than solely in a mandatory pool, (d) electively viewing said race conditions pertaining to a specific PROOFC, (e) personally handicapping a specific PROOFC on which said players are considering placing a wager, and (f) utilizing a third-party handicapping tool to assist said player in handicapping a PROOFC.