U.S. patent application number 11/734056 was filed with the patent office on 2008-10-16 for system and method for odds-based sports wagering.
Invention is credited to Nicholas Koustas, John Mix, Alexander Oxman.
Application Number | 20080254876 11/734056 |
Document ID | / |
Family ID | 39854227 |
Filed Date | 2008-10-16 |
United States Patent
Application |
20080254876 |
Kind Code |
A1 |
Koustas; Nicholas ; et
al. |
October 16, 2008 |
SYSTEM AND METHOD FOR ODDS-BASED SPORTS WAGERING
Abstract
The present invention can provide a system and method for sports
wagering and entertainment. In one exemplary embodiment, the
present invention can include a method for odds-based sports
wagering, the method comprising: receiving, from a bettor, a
selection of at least one players; providing, to the bettor, odds
associated with the selection of at least one players; receiving,
from the bettor, an at least one bet type and an at least one bet
amount based on the odds associated with the selection of at least
one players; and returning, to the bettor, a result for the at
least one bet type and the at least one bet amount.
Inventors: |
Koustas; Nicholas;
(Englewood, CO) ; Mix; John; (Denver, CO) ;
Oxman; Alexander; (Denver, CO) |
Correspondence
Address: |
COOLEY GODWARD KRONISH LLP;ATTN: Patent Group
Suite 1100, 777 - 6th Street, NW
WASHINGTON
DC
20001
US
|
Family ID: |
39854227 |
Appl. No.: |
11/734056 |
Filed: |
April 11, 2007 |
Current U.S.
Class: |
463/28 |
Current CPC
Class: |
G07F 17/3272 20130101;
G07F 17/3288 20130101; G07F 17/32 20130101 |
Class at
Publication: |
463/28 |
International
Class: |
A63F 3/00 20060101
A63F003/00 |
Claims
1. A method for odds-based sports wagering, the method comprising:
receiving, from a bettor, a selection of at least one players;
providing, to the bettor, odds associated with the selection of at
least one players; receiving, from the bettor, an at least one bet
type and an at least one bet amount based on the odds associated
with the selection of at least one players; and returning, to the
bettor, a result for the at least one bet type and the at least one
bet amount.
2. The method of claim 1, further comprising: providing, to the
bettor, a list of available players.
3. The method of claim 2, further comprising: providing, to the
bettor, odds associated with the list of available players.
4. The method of claim 1, further comprising: providing, to the
bettor, a list of events; receiving, from the bettor, an event
selection; providing, to the bettor, a list of available players
associated with the event selection.
5. The method of claim 4, further comprising: providing, to the
bettor, odds associated with the list of available players.
6. The method of claim 1, wherein the odds comprise a projected
point total for the selection of at least one players.
7. The method of claim 1, wherein the odds comprise odds that the
selection of at least one players will receive a certain number of
points.
8. The method of claim 1, wherein the at least one bet amount is a
monetary bet amount.
9. The method of claim 1, wherein the at least one bet type
comprises a bet that the selection of at least one players will
receive a certain number of points.
10. The method of claim 1, wherein the result is a monetary
payout.
11. The method of claim 1, further comprising: calculating odds for
the selection of at least one players based on odds associated with
each player from the selection of at least one players.
12. The method of claim 11, wherein calculating odds comprises
averaging the odds associated with each player from the selection
of at least one players.
13. The method of claim 1, further comprising: determining a result
for the at least one bet type and the at least one bet amount.
14. The method of claim 13, wherein determining a result comprises
comparing a point total for the selection of at least one players
with a number of points and, if the point total for the selection
of at least one players is higher, calculating a payout amount
based on the at least one bet amount and the odds associated with
the selection of at least one players, or, if the point total for
the selection of at least one players is lower, determining the
result is a loss.
Description
FIELD OF THE INVENTION
[0001] The present invention relates generally to systems and
methods for sports wagering and entertainment.
BACKGROUND OF THE INVENTION
[0002] In fantasy sports, fantasy owners generally build and manage
a team that competes over an entire season against teams built by
other fantasy owners. Fantasy owners typically build or draft a
roster of players at the beginning of each season from which they
will select a lineup for each game of the season. In current
systems and methods, fantasy owners earn points based on the
game-by-game statistical performances of their selected players and
those point totals are directly compared to the point totals of
other fantasy owners. In such systems, fantasy owners need to both
pick a quality roster and manage that roster well during the
season.
[0003] In other fantasy sports systems, fantasy owners are given a
certain point or salary allotment which they use on a game-by-game
or week-by-week basis to select players. Once again, the fantasy
owners compete with other fantasy owners to see who can accumulate
the highest number of points.
[0004] With these systems, fantasy owners are limited to competing
only against other fantasy owners who wish to participate for the
same time duration. Since there is no way to standardize the
results, fantasy owners cannot easily join the competition late,
compete intermittently, or leave early and still be able to
reasonably participate.
[0005] Moreover, current fantasy sports bettors are generally
limited to competing against an undefined opponent. Rather than
measuring success by how well their selected team performed,
fantasy sports bettors are always betting against how other fantasy
sports bettors performed. To this extent, the opponent is undefined
until after all fantasy sport bettor have selected a lineup. This
limits fantasy sports bettors to a restricted number of wagering
options and strategies. Since there is no standardized measure of
success, fantasy sports bettors are limited to trying to select the
players who will achieve the greatest number of points.
[0006] Accordingly, there is a need for a system and method for
allowing fantasy sports bettors greater bet variety and greater
participation flexibility.
SUMMARY OF THE INVENTION
[0007] Exemplary embodiments of the present invention that are
shown in the drawings are summarized below. These and other
embodiments are more fully described in the Detailed Description
section. It is to be understood, however, that there is no
intention to limit the invention to the forms described in this
Summary of the Invention or in the Detailed Description. One
skilled in the art can recognize that there are numerous
modifications, equivalents and alternative constructions that fall
within the spirit and scope of the invention as expressed in the
claims.
[0008] The present invention can provide a system and method for
sports wagering and entertainment. In one exemplary embodiment, the
present invention can include a method for odds-based sports
wagering, the method comprising: receiving, from a bettor, a
selection of at least one players; providing, to the bettor, odds
associated with the selection of at least one players; receiving,
from the bettor, an at least one bet type and an at least one bet
amount based on the odds associated with the selection of at least
one players; and returning, to the bettor, a result for the at
least one bet type and the at least one bet amount.
BRIEF DESCRIPTION OF THE DRAWINGS
[0009] Various objects and advantages and a more complete
understanding of the present invention are apparent and more
readily appreciated by reference to the following Detailed
Description and to the appended claims when taken in conjunction
with the accompanying Drawings wherein:
[0010] FIG. 1 illustrates a typical architecture on which
embodiments of the present invention could be utilized;
[0011] FIG. 2 illustrates exemplary software modules that could be
operated by the server;
[0012] FIG. 3 illustrates a paper sports betting slips that could
be used with embodiments of the present invention;
[0013] FIG. 4 illustrates a betting interface screen that could be
used with embodiments of the present invention;
[0014] FIG. 5 illustrates one method by which a bettor can make an
odds-based wager on fantasy sports;
[0015] FIG. 6 illustrates one method for collecting event and
player information for fantasy sports wagering;
[0016] FIG. 7 illustrates one method for collecting a bettor's bet
and wager information for odds-based fantasy sports wagering;
[0017] FIG. 8 illustrates one method for returning bet and wager
outcomes to bettors;
[0018] FIG. 9 illustrates one method for evaluating player event
data; and
[0019] FIG. 10 illustrates one method of evaluating bettor
information and returning bettor outcomes.
DETAILED DESCRIPTION
[0020] Referring now to the drawings, where like or similar
elements are generally designated with identical reference numerals
throughout the several views, and referring in particular to FIG.
1, it illustrates an exemplary architecture on which embodiments of
the present invention could be utilized. This embodiment includes a
server connected to bettors through a network. The server generally
contains software for collecting, generating and displaying
information for use by bettors, collecting information from
bettors, and for analyzing that information. By way of example, a
bettor or bettors could be connected to the server through a
network device such as a personal computer, an interactive
television, a kiosk, or a wireless device, such as a PDA or cell
phone. The illustrated arrangement of these components is logical
and not meant to be an actual hardware diagram. The network that
connects the bettors to the server could be the internet, an
intranet, a corporate LAN, or any other type of network. Thus, the
components can be combined, hardwired or further separated in an
actual implementation. Moreover, the construction of each
individual component is well-known to those of skill in the
art.
[0021] Referring now to FIG. 2 it illustrates exemplary software
modules that could be the server. These modules are described
according to their functions and could be grouped differently. As
those of skill in the art understand, many of these functions could
be combined together into one software module and similarly, many
of these functions could be divided into several different software
modules. These functional modules are described briefly with regard
to FIG. 2 and in more detail with regard to the subsequent flow
charts.
[0022] Referring first to the bettor interface module, it is an
input-output controller and serves as the interface for the bettor
or the bettor's computing devices to interact with the other
modules. Similarly, the bettor interface directs the communications
from the other modules to the bettor. For example, the bettor
interface could be used to present lineup odds from the lineup odds
generator module to the bettor.
[0023] The second software module shown in FIG. 2 is a bet, wager
and player data collection module. This module is designed to
collect and provide information such as bet, wager and player data
to and from both the bettor and other external and internal
sources. For example, the bet, wager and player data collection
module could be designed to communicate with the lineup odds
generator so that after player data has been collected, the lineup
odds generator could calculate the given lineup's odds. The bet,
wager and player data collection module could read and write the
information to long-term and short-term storage.
[0024] The bettor score determination module from FIG. 2 could
communicate with other internal modules in order to determine the
bettor's score. For example, the bettor score determination module
could communicate with the bet, wager and player data collection
module in order to acquire external, non-bettor supplied,
information needed to calculate scores.
[0025] The final module shown in FIG. 2 is a bettor payout
evaluator. This module could communicate with other modules in
order to determine the bettor payout, if any, and then have that
payout information reported to the bettor.
[0026] Although one embodiment disclosed herein uses interactive
electronic devices in order to present information to and acquire
information from a bettor, FIG. 3 represents an exemplary
embodiment of how paper sports betting slips could be used. The
front of the paper sports betting slip in FIG. 3 lists the
available players for a specific event. On the back of the paper
betting slip there are eight form fields where the bettor can fill
in his or her selected players. As those skilled in the art can
understand, numerous variations could be made to the betting slips
without affecting the present invention. Additionally, those
skilled in the art can understand how the use of betting slips
could be combined with electronic devices. For example, the
available players list could be displayed on an electronic device,
such as a television display, while the bettors used paper betting
slips to indicate player selections.
[0027] After the bettor has filled out the betting slip to indicate
his or her selected players, the information from the betting slip
would need to be collected (not shown). In one embodiment, the
information from the betting slip could be read and entered
manually. In another embodiment the betting slips may be
electronically scanned in order to collect the bettor's selected
lineup. Those skilled in the art can understand various ways the
information from the betting slips would be collected consistent
with the present invention.
[0028] Referring now to FIG. 4 it represents an exemplary
embodiment of a betting interface screen for the devices from FIG.
1. FIG. 4 illustrates a screen with areas to display players lists
and bettor information, to input selected players and an event ID,
and to provide a bet slip. It would be obvious to those skilled in
the art that this information can be further separated, combined or
reorganized within the scope of the present invention. The betting
interface screen may be a touch screen display that, for example,
allows bettors to drag and drop selected players into their lineup.
In another embodiment the screen may include data entry fields that
allow users to use an attached keyboard or keypad to enter selected
players by number and bet amounts. Those skilled in the art can
understand many variations on the functionality of the betting
interface screen consistent with the present invention.
[0029] In FIG. 5 a flow chart represents broadly one method by
which a bettor wagers on odds-based fantasy sports. The use of the
term `fantasy` is intended to be descriptive for those who are
skilled in the art, and is not in any way meant to limit the
present invention to fantasy sports. In the first step in FIG. 5
the bettor is provided with a list of available events such as
"NCAA I-A Football Games for Saturday September 4", "MLB Games for
Saturday and Sunday September 4-5", "NFL Games for Sunday Morning",
"NFL Week 6 Games", "Football Games (NCAA I-A and NFL) for Thursday
through Monday September 2-6". This allows the bettor to select an
event that meets the bettor's time and curiosity constraints. Once
an event has been selected, the bettor is presented with a list of
available players, and the players' corresponding odds, for the
selected event.
[0030] For example, as displayed in FIG. 4, if a bettor wanted to
wager on fantasy football and wanted to be done before Sunday
night, he could select the event ID that corresponds to the Sunday
morning football games. The bettor would then be provided with a
list of players available for those games only. So if the Miami
Dolphins were playing Monday Night Football, none of the members of
the Miami dolphin team nor the team itself, would be available
players for selection. In this exemplary embodiment, events refers
to a selection of football games limited by some time constraint.
Those skilled in the art, however, can realize that event can refer
to various fantasy sports and various time parameters consistent
with the present invention. Moreover, in one embodiment of the
present invention players can refer to the members of the football
teams, the defense of the football team, or the football teams
themselves. Those skilled in the art can realize that player could
have other meanings in various fantasy sports schemes that would
also be consistent with the present invention.
[0031] Returning to FIG. 5, once the bettor is presented with the
list of available players the bettor is then able to select a
lineup for the event. In an exemplary embodiment, a lineup for a
fantasy football wager would include selecting two running backs, a
quarterback, two wide receivers, a tight end, a kicker, and a
defense. Odds for the lineup would then be generated and presented
to the bettor. The bettor would then be able to make a bet and
wager on the selected lineup. Finally, the bettor would receive the
results of his or her bet and wager. The types and kinds of bets
the bettor can make are discussed more fully later, but it is worth
mentioning here that the wager could be both a monetary and a
non-monetary wager. In this way, the system and method could be
used for traditional gambling or recreational use. Moreover, even
in the context of monetary wagering the wager here could be some
portion of a bettor's point allotment that is only part of a
wagering system. Those skilled in the art would be aware of many
variations on bets and wagering consistent with the present
invention.
[0032] The present invention is not limited to having to select
multiple player lineups, nor is it limited to selecting lineups
composed of multiple different player types. In another embodiment
of the present invention, a bettor could select a single player for
the lineup. For example, a player could select the quarterback from
the Indianapolis Colts if he thinks that particular player is going
to do well but doesn't want to bet on which running backs,
defenses, etc., are going to do well. In other sports, such as
baseball, a bettor might just select a pitcher or a batter. In a
different embodiment of the present invention, a player could be
allowed to select multiple players from a limited subset of player
types. For example, a bettor might select multiple quarterbacks but
not select players from any other positions. A bettor could also
select only quarterbacks and running backs. For other sports, for
example basketball, a bettor might select all guards and defenses.
Those skilled in the art will realize the numerous variations
consistent with the present invention.
[0033] FIG. 5 presents only one possibility of what would happen
after the bettor is presented his odds. Those skilled in the art
would realize that after a bettor is presented with his odds, the
bettor could further be given the ability to go back and change the
selected lineup. In this way, the bettor would be given a chance to
make changes until the bettor received odds that he wanted to bet
and wager on. Moreover, in another embodiment, the odds calculation
may be dynamic, allowing the bettor to monitor the odds as each
player is selected. Other modifications consistent with the present
invention would be obvious to those skilled in the art. Finally,
after the bettor makes a bet and wager on the selected lineup the
bettor waits to receive results.
[0034] Now referring to FIG. 6, it is a flowchart that illustrates
one method for collecting event and player information for fantasy
sports wagering. First, a list of all available events is
collected. This can be done in numerous fashions. In the exemplary
embodiment, the bet, wager and player data collection module from
FIG. 2 could collect this information. This could be collected from
manual entry or automatically via the internet through a statistics
provider. Once the event list has been collected, the bet, wager
and data collection module could then collect player information
for all the events. For example, information on lineups for a given
game, schedules, injury lists would be needed in order to determine
what players are actually available for a given event.
[0035] Once the player information has been collected, an available
players list for all events can be populated. The bet, wager and
data collection module could be used to evaluate the data and
populate an available players list for all events. In the exemplary
embodiment, for fantasy football this would include checking which
teams (defensive teams are included as players) are playing, what
players are hurt, etc. In other fantasy sports there will be other
considerations. For example, in baseball, the pitching rotation
would be relevant to evaluate in order to determine what pitchers
are available for a given event.
[0036] Once the available players list has been populated the next
step in FIG. 6 is to collect odds for available players for all
events. Once again, the bet, wager and data collection module could
be used to collect the odds for all available players for all
events. These odds may be entered manually or collected
automatically from an odds provider. Alternatively, the lineup odds
generator could be used to generate odds for available players.
[0037] FIG. 7 illustrates one method for collecting a bettor's bet
and wager information for odds-based fantasy sports wagering.
First, FIG. 7 shows presenting a bettor with a list of available
events. Here, the bettor interface module could access the bet,
wager and player data collection module (FIG. 2) in order to
transfer the stored event list for presentation to the bettor. For
example: the list might include baseball games split up into events
that cover individual days, or multi-day periods; the list might
have different events for college football and pro-football; the
list could include a weekend or a weekday basketball games event.
The bettor interface module might present this information by
printing the information out or by electronically displaying the
information (not shown).
[0038] Next, in FIG. 7, the bettor's event selection is collected.
In one embodiment the bettor interface might communicate
information directly with the bettor's computing device, or the
information may be input by another person or machine using a
written selection made by the bettor. Once the players event
selection is collected, a list of available players and odds are
presented to the bettor for the selected event. Again, in the
exemplary embodiment the bettor interface could be used to present
this information. It can be realized by those skilled in the art
that other modules or other schemes could be used consistent with
the present invention. For example, the bet, wager and player data
collection module may be fully capable of returning information
without using the bettor interface module.
[0039] While the exemplary embodiment splits the first three steps
of FIG. 7 up, it would be realized by those skilled in the art that
a list of available events may be presented simultaneously with a
list of available players and odds for those players. For example,
FIG. 4 shows an exemplary embodiment of the invention as described
in FIG. 7 where the players list displays only available players
for the selected event. However, it could be imagined that numerous
betting slips, such as the one in FIG. 3, are provided to the
player for all the available events with the available players
listed on the betting slip.
[0040] Back to FIG. 6, after presenting the information to the
bettor, the bettor's lineup is collected. The bettor interface
could take the bettor's lineup and communicate it both to the bet,
wager and player data collection module for storage, and to the
lineup odds generator module. Storage is not necessary for the
present invention but may serve additional purposes beyond the
present invention, including tracking betting habits of bettors.
The lineup odds generator could then generate odds for the bettor's
lineup. After lineup odds are generated the lineup odds are
presented to the bettor. The bettor interface could present the
bettor with lineup odds for the selected lineup.
[0041] Various types or forms of lineup odds could be presented to
the bettor. In the exemplary embodiment as shown in FIGS. 3 and 4,
odds are represented by positive or negative values. Positive
values reflect the net return for a bet of 100 and negative values
reflect the (negative of the) amount that needs to be bet in order
to net a return of 100. In the exemplary embodiment as shown in
FIGS. 3 and 4, the use of negative values has been selected. In
order to get lineup odds of the same form, the lineup odds
generator would need to take the average of every player in the
lineup. This average then represents the betting odds on the
selected lineup beating a predetermined or selected point total.
For example, the bettor could be told that the selected lineups
odds are -250 on beating a predetermined point total of 50 points.
This would mean that for every 250 the bettor wagers, the bettor
will receive 100 if the selected lineup collects more than 50
points.
[0042] Other variations on lineup odds could be used consistent
with the present invention. In one exemplary embodiment, a bettor
could be presented with varying odds for the selected lineup
beating a variation of point totals. For example, a bettor could be
told that the selected lineups odds are -250 on beating 50 total
points, -120 on beating 60 total points, -320 on beating 40 total
points, and -500 on beating 30 total points. In this way, a bettor
could be presented with various odds for the same lineup. The
bettor could then select a specific point total to bet against. In
a different embodiment the bettor could be presented with various
payouts for a bet on a given lineup. In this example, the bettor
would bet on the lineup generally and be given odds for various
point totals. A bettor would not bet against a specific point
total, but would bet on the lineup. For example, a lineup could be
given -200 on getting over 60 total points, -300 on getting 50-59
total points, -450 on getting 40-49 total points, -600 on getting
30-39 total points, and no odds (a loss) for getting less that 30
total points. The bettor could then bet on the lineup without
selecting a specific point total to beat. These are exemplary
embodiments only, and those skilled in the art will realize many
other variations consistent with the present invention.
[0043] In another embodiment, the lineup odds could represent a
projected lineup point total which the bettor could then use to bet
against another bettor using a handicap system. In a competitive
setting with another bettor, the bettor with the higher projected
point total could give the other bettor the difference in points as
a handicap in a head-to-head bet. Alternatively, a projected lineup
point total could also be used for an over-under bet. For example,
for fantasy football a selected lineup may be projected to collect
43 points. The bettor could make a wager that the lineup will
collect more, an over bet, or less, an under bet, points than the
projected lineup point total of 43 points. Many other forms of
lineup odds, which allow other forms of bets and wagers, will be
realized by those who are skilled in the art.
[0044] Returning to the final step in FIG. 7, the bettor's bet and
wager on lineup are collected. The bettor interface could once
again collect this information from the bettor and communicate it
to the bet, wager and player data collection module for storage. It
will be realized by those skilled in the art that the bettor may
additionally receive some sort of bet receipt or verification. As
discussed previously, there are numerous types of bets and wagers
that could be collected from the bettor.
[0045] Now referring to FIG. 8 there is a flowchart representing
one method for returning bet and wager outcomes to bettors. First,
player event data for each event is collected. The bet, wager and
player data collection module could be used to collect this
information. The information could be collected on a real-time
basis or it could be collected after an event is finished. If the
player event data is collected on a real-time basis, bettors may be
updated with the progress of their selected lineup (not shown) and
even alerted about bet outcome before the event is completed.
[0046] Player event data includes player statistics and results. In
the exemplary embodiment for fantasy football, this would including
collecting, at least, all relevant statistics such as touchdowns,
touchdown passes, turnovers, field goals, etc. In another
embodiment such as fantasy baseball, statistics such as homeruns,
strikeouts, saves, RBIs, etc. would be collected. Those skilled in
the art will be aware of the player event data that would need to
be collected for various fantasy sports.
[0047] Once the player event data for each event has been
collected, the next step in FIG. 8 is to evaluate the player event
data. This step, which is described in more detail in relation to
FIG. 9, can be accomplished using the bettor score determination
module. The general purpose of this step is to convert event
statistics into fantasy sports points consistent with the types of
bets being received. It should be realized by those skilled in the
art, that as the popularity of fantasy sports increases, player
event data for each event may simply be collected with a fantasy
sports point total already included. In this sense, the step of
evaluating player event data may be done by another system or
method and simply collected for use in this method and system.
[0048] Referring back to FIG. 8, after the player event data is
evaluated the next step is to retrieve bettor information. In the
exemplary embodiment the bettor information can be stored in the
bet, wager and player data collection module and would be retrieved
by the bettor score determination module. Once the bettor score
determination module retrieved the bettor information it will
evaluate the bettor information, which is discussed more thoroughly
in the discussion relating to FIG. 10.
[0049] The final step in FIG. 8 is to present the bettor with an
outcome. For the exemplary embodiment, this step could involve
using the bettor interface module to communicate the bettor outcome
from the bettor payout evaluator to the bettor. This could include
simply informing the bettor that she lost or it could include
actually paying out winnings to the bettor.
[0050] Referring now to FIG. 9, there is a flowchart that
illustrates one method for evaluating player event data. In the
exemplary embodiment the event data could be evaluated by the
bettor score determination module. First, the player event data is
reviewed for relevant results. In the exemplary embodiment the
relevant results are the statistics that score in fantasy football:
touchdowns, touchdown throws, field goals, etc. Second, the player
type and the applicable scoring algorithm must be determined.
Player type includes both determining the proper fantasy sport and
the specific type of player within the fantasy sport. For example,
it may not be enough to say that Champ Bailey is a football player,
but you would also have to identify that Champ Bailey is part of
the defensive player Denver Broncos. Since Champ Bailey is not
selected individually his player type is important in order to fit
his statistics into the applicable scoring algorithm.
[0051] Once the player type and scoring algorithm are identified,
the system should assign points to each player based on the scoring
algorithm and player event results. For example, in the exemplary
embodiment if Champ Bailey has an interception for a touchdown, the
scoring algorithm would appoint eight points to defensive player
Denver Broncos, two for the interception and six for the touchdown.
In the exemplary embodiment, this process could take place in the
bettor score determination module which will transfer all player
point totals to the bet, wager and player data collection module
for storage.
[0052] Referring now to FIG. 10 there is an illustration of one
method of evaluating bettor information and returning bettor
outcomes. First, for each player in the bettor's lineup, the player
event data point total must be retrieved. In the exemplary
embodiment, this could involve the bettor payout evaluator module
communicating with the bet, wager and player data collection module
both to collect the bettor's lineup and to collect player event
point totals. Alternatively, the bettor score determination module
could also be where player event point totals are stored for
collection. Once that information is retrieved the bettor lineup
point total can be calculated. In the exemplary embodiment for
fantasy football this simply involves totaling the points for each
player in the bettor's lineup. Those skilled in the art will be
aware of how lineup totals are determined in other fantasy
sports.
[0053] Once the bettor's lineup point total is calculated, the
lineup point total is compared with the bettor's bet. In the
exemplary embodiment this could be done in the bettor payout
evaluator module. If the bettor wagered 250 that the selected
lineup would beat the predetermined or selected value of 50 total
points, as discussed in exemplary embodiments herein, the lineup
total would be compared to see if it was above 50 total points. If
the bet was above 50 total points a win would be determined. If
not, the bettor's bet would result as a loss. Various rules for
ties could be imagined. Other point totals, whether predetermined
or selected by the bettor, could receive similar treatment.
[0054] After the bettor's bet has been ruled a win or a loss, the
final step in FIG. 10 is to calculate better payout for a win, or
determine bettor's loss. A bettor's payout is based on the type of
bet and the amount of the wager the bettor made. In the exemplary
embodiment, if the bettor received lineup odds of -250 and bet 250,
a winning bet would payout 100 gain. Conversely, a losing bet would
mean the bettor loses 250. In other forms of bets, a loss
determination may be more complicated. For example, if a bettor bet
100 for each point against another bettor and lost by five points
then the bettor's loss would be determined 500. How to calculate
the bettor's winnings or determine bettor's losses from the bet and
wager will be understood by those skilled in the art.
[0055] In another embodiment of the present invention, the bettor
could have wagered on the selected lineup but not against a
specific point total. The lineup point total could then be compared
to a range of selected payouts for that lineup. For example, a
bettor could have wagered 200 on the selected lineup. For point
totals of 0-29 the lineup could pay 0 or perhaps some portion of
the original bet could be returned; for a point total of 25-29 for
example, half the bet amount might be returned. For point totals of
30-39 the bettor could have been given -600 odds and would receive
a payout of 33.33 gain, for point totals of 40-49 the bettor could
have been given -450 odds and would receive a payout of 44.44 gain,
etc.
[0056] In conclusion, the present invention provides, among other
things, a system and method for odds-based fantasy sports wagering.
Those skilled in the art can readily recognize that numerous
variations and substitutions may be made in the invention, its use
and its configuration to achieve substantially the same results as
achieved by the embodiments described herein. Accordingly, there is
no intention to limit the invention to the disclosed exemplary
forms. Many variations, modifications and alternative constructions
fall within the scope and spirit of the disclosed invention as
expressed in the claims.
* * * * *