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Determining odds of a possible outcome of an event which occurs during a contest

a technology of odds and possible outcomes, applied in the field of determining odds of a possible outcome of an event, can solve the problems of many tasks, burden on human administrators, and limited amount of time available, and achieve the effect of accelerating odds determination

Inactive Publication Date: 2006-05-04
PLAY BY PLAY SERVICES CORP
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0011] A method of determining odds of a possible outcome of an event which occurs during a contest is disclosed. The contest may be a sporting contest such as a football game. The method includes accepting a set of one or more current parameter values (such as score or field position) which influence the likelihood of the possible event outcome (such as the likelihood of a running play). The set of current parameter values is used to retrieve situation-s...

Problems solved by technology

As well, the odds should not be such that a few lucky bets placed on unlikely outcomes will result in a depletion of the house's funds.
Accordingly, the administrator may be burdened with many tasks.
Contributing to the burden on a human administrator is the limited amount of time that may be available for performing the above-noted tasks.
If a user does not have enough time to place a bet, potential income for the house may be lost.

Method used

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  • Determining odds of a possible outcome of an event which occurs during a contest
  • Determining odds of a possible outcome of an event which occurs during a contest
  • Determining odds of a possible outcome of an event which occurs during a contest

Examples

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Embodiment Construction

[0027]FIG. 1 illustrates an electronic wagering system 10 which permits bettors (users) to place bets during live sporting contests or other types of contests. In particular, the system 10 allows bettors to place bets on the outcome of events (e.g. plays, penalty kicks, etc.) which occur during the course of the sporting contest.

[0028] Electronic wagering system 10 is a distributed system having four components, namely, a bet server 14, an administrator computer 18, a broadcast server 26 and a bettor computer 22. The bet server 14, administrator computer 18, broadcast server 26 and bettor computer 22 may be located in different geographic locations. In the illustrated embodiment, the bet server 14 and broadcast server 26 are co-located. The four devices 14, 18, 26 and 22 intercommunicate by way of a network 20, which in the present embodiment comprises the public Internet, but which may comprise other types of networks in alternative embodiments.

[0029] The bet server 14 is a compu...

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Abstract

A method of determining odds of a possible outcome of an event which occurs during a contest is disclosed. The contest may be a sporting contest such as a football game. The method includes accepting a set of one or more current parameter values (such as score or field position) which influence the likelihood of the possible event outcome (such as the likelihood of a running play). The set of current parameter values is used to retrieve situation-specific likelihood data from a data store. Odds associated with the possible outcome are set based at least in part on the likelihood data. The odds may be adjusted using one or more non-situation-specific factors indicating an average likelihood of the event outcome (such as an average likelihood of a running play for a team regardless of situation). The method may expedite odds determination. An associated system and machine readable medium are also disclosed.

Description

FIELD OF THE INVENTION [0001] The invention relates to the determination of odds of a possible outcome of an event which occurs during a contest, for possible use in electronic wagering systems which permit bets to be placed during live contests, such as sporting contests. BACKGROUND OF THE INVENTION [0002] Electronic wagering systems which permit bets to be placed during live sporting contests are known. In one arrangement, the entity that accepts the wager (the house) provides a betting interface to a user (a bettor) by way of a web site. During the contest (e.g. a football game), which the user may watch via a televised broadcast, the user accesses the web site via an Internet-connected computer. The house presents a set of propositions to the user via the web site in respect of which bets may be placed. A “proposition” is a query regarding an event which has multiple potential outcomes. The event is typically a discrete event which is expected occur in the relatively near future...

Claims

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Application Information

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IPC IPC(8): A63F9/24G06Q10/00
CPCG06Q10/00G06Q50/34G07F17/3288
Inventor TARTER, RONNIE MITCHELLOLIVER, GREGHESKIN, GABRIELROSS, DAVID IAN
Owner PLAY BY PLAY SERVICES CORP
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