U.S. patent application number 14/545957 was filed with the patent office on 2016-01-21 for method to simplify sports betting.
The applicant listed for this patent is George Skaff Elias, Richard Channing Garfield. Invention is credited to George Skaff Elias, Richard Channing Garfield.
Application Number | 20160016073 14/545957 |
Document ID | / |
Family ID | 55073752 |
Filed Date | 2016-01-21 |
United States Patent
Application |
20160016073 |
Kind Code |
A1 |
Elias; George Skaff ; et
al. |
January 21, 2016 |
Method to simplify sports betting
Abstract
The claimed invention is a new method of simplifying traditional
sports betting by matching bets on roughly even betting
propositions or comparative choices.
Inventors: |
Elias; George Skaff;
(Redmond, WA) ; Garfield; Richard Channing;
(Bellevue, WA) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
Elias; George Skaff
Garfield; Richard Channing |
Redmond
Bellevue |
WA
WA |
US
US |
|
|
Family ID: |
55073752 |
Appl. No.: |
14/545957 |
Filed: |
July 13, 2015 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
|
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61999065 |
Jul 15, 2014 |
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Current U.S.
Class: |
273/274 |
Current CPC
Class: |
G07F 17/3244 20130101;
G07F 17/3288 20130101; A63F 3/0615 20130101; A63F 3/00157 20130101;
G07F 17/326 20130101 |
International
Class: |
A63F 3/00 20060101
A63F003/00 |
Claims
1. A new method of simplifying sports betting in particular and
wagering games in general by matching bets on roughly even betting
propositions or comparative choices, wherein a game operator
identifies propositions or comparative choices that have roughly
even odds or 50-50 chance of likelihood, and then facilitates the
pairing of bets for and against such proposition, or on each side
of a particular comparative contest (such as the case in sports
fantasy or other fantasy games).
Description
CROSS-REFERENCE TO RELATED APPLICATIONS
[0001] Applicants are claiming the benefit of a provisional patent
application with the same title, No. 61/999,065, filed on Jul. 15,
2014.
STATEMENT REGARDING FEDERALLY SPONSORED RESEARCH OR DEVELOPMENT
[0002] Not Applicable
REFERENCE TO SEQUENCE LISTING, A TABLE, OR A COMPUTER PROGRAM
LISTING COMPACT DISK APPENDIX
[0003] Not Applicable
BACKGROUND OF THE INVENTION
[0004] The present invention is in the field of games. More
particularly, the present invention is in the field of betting or
wagering games involving sports, or sports fantasy.
[0005] In traditional wagering games, the game operator generally
acts as a market maker. The game operator could balance the amounts
of bets and expected payout by setting and adjusting the odds that
determine the payout of a bet or wager on a particular betting
proposition or by adjusting the spread between the two sides of a
comparative bet. For example, a game operator could increase the
odds to yield a higher payout in order to attract more bets on an
undersubscribed event in the betting pool. A game operator could
also add or adjust a point spread to a comparative bet, i.e.,
adding a required performance condition to raise the winning
threshold for one side in order to attract more bets to the other
side.
SUMMARY OF THE INVENTION
[0006] The present invention is a method to simplify traditional
sports betting by matching bets on roughly even betting
propositions or comparative choices.
BRIEF DESCRIPTION OF THE DRAWINGS
[0007] No drawing is necessary to understand or implement the
invention.
DETAILED DESCRIPTION OF THE INVENTION
[0008] In traditional wagering games, the game operator generally
acts as a market maker. Each bet or wager is a contract between a
player or participant with the game operator, rather between two
players. The game operator could balance the amounts of bets and
expected payout by setting and adjusting the odds that determine
the payout of a bet or wager on a particular betting proposition or
by adjusting the spread between the two sides of a comparative bet.
Such odds or spreads can make the user interface in traditional
betting or wagering games very difficult to understand for many
players. Moreover, it can make bets difficult to compare. Two bets
on essentially the same proposition can be largely incomparable if
the odds and applicable spreads are different.
[0009] The present invention is a method of simplifying sports
betting in particular and wagering games in general by matching
bets on roughly even betting propositions or comparative
choices.
[0010] Under this new method, the game operator does not act as a
market maker but as matching facilitator. The game operator will
identify propositions or comparative choices that have roughly even
odds or 50-50 chance of likelihood (based on surveys, search
rankings or data mining using proprietary algorithms), and then
facilitate the pairing of bets for and against such proposition, or
on each side of a particular comparative contest (such as the case
in sports fantasy or other fantasy games).
[0011] Under this new system, the user interface will be greatly
simplified. A player or participant in the game generally does not
have to deal with the complications of odds or spreads. Moreover,
the payout is also simpler. A positive outcome on a bet under the
new system generally yields the same amount of payout as the amount
of entry fee or wager (less any applicable commissions for fee
payable to the game operator).
[0012] The new method also expands the scope of competitive
contests in sports fantasy or other fantasy games by identifying
and creating a market of discrete wagering propositions that depend
on the comparative performance of two players, characters, or
fantasy teams.
[0013] Also, because each betting proposition or comparative choice
under this new method is roughly an even bet and ultimately
represents a debate between opposing players on each side of the
proposition (e.g., which of two given NFL quarterbacks will have a
better performance this weekend), skill and knowledge can have
larger role to play under the new method, just as skill and
knowledge has a bigger role in sports fantasy games than in
traditional sports betting.
[0014] While the foregoing written description of the invention
enables one of ordinary skill to make and use what is considered
presently to be the best mode thereof, those of ordinary skill will
understand and appreciate the existence of variations,
combinations, and equivalents of the specific embodiment, method,
and examples herein. The invention should therefore not be limited
by the above described embodiment, method, and examples, but by all
embodiments and methods within the scope and spirit of the
invention as claimed.
* * * * *