Betting across the board is not always a good wager. A first-place finish will pay much more than if your bet ends up in the second or third spot. The show spot is usually a break-even bet. The same amount of money is spent, but each first-place bet usually has more profit potential than a place or show wager.
As soon as you start wagering on exotics, such as the Daily Double, Exacta or Trifecta, you undercut your chances of winning. The fact is that these wagers are all akin to parlays and parlays, which involve wagering on numerous sequential outcomes, are extremely difficult to hit.
If you do decide to wager on more than one horse per race, be sure to calculate each possible outcome. The other two will result in a profit. Pari Mutuel wagering offers additional excitement for the bettor due to the fact that the odds constantly change. This system results in a range of wagering choices that with careful monitoring can be exploited by gamblers.
We have plenty of sports betting information at madduxsports. Read up on all you can so you have the greatest advantage over the bookmaker this season! We have recently started to offer tennis, nascar, and golf wagering guides so we are currently working on writing up more articles on those small market sports and will include them to this section.
Sports Picks on basketball, football, and baseball! For years the sports handicappers at Maddux Sports have been making money for us and our clients betting the strongest sports picks on the Internet. Maddux Sports feels that in this industry the best sports handicappers can charge less for their picks than the big name scamdicappers. Maddux Sports makes its money from repeat sports bettors that know the value of their bankroll.
Featured on:. The information contained at this site is for entertainment purposes only. Any use of this information in violation of any state, federal, or local laws is prohibited. Sports Betting Section. Featured Sportsbooks. Bet Online. Pari Mutuel Betting Pari Mutuel Betting - Some Basics and Some Tips With Pari Mutuel betting, which was created by Pierre Oller in France in the s, bettors wager against one another, with odds being determined by what percentage of the pot is bet on each competitor in the race or event.
Pari Mutuel Basics With Parimutuel wagering, tote boards or totalizators display the latest betting patterns. Pari Mutuel Calculations These days when you go to a track the odds for each competitor are instantaneously calculated and continuously updated.
In the preferred embodiment, system is adapted to allow bettors to wager on human sporting events. Examples of such human sporting events and wagers that may be established for such events are set forth below in Section III. Wagers according to the present invention may typically fall into two broad categories. For a particular wagering game, a bettor can make the various wagers with regard to participants' e. Various examples of the types of statistics and games that may be implemented through system are set forth in Section III below.
Based upon the participants' performance, the participants may be ranked by system relative to other participants. Some examples of rankings are shown below:. This assumes that there are sufficient participants in the betting field that there is no possibility of a participant filling more than one payout position. For example, in a two participant field, the first place finisher is also the next to last place finisher. Not all of the shown wagers may be allowed, or more wagers may be allowed, based on field size and bettor interest.
Note that the position wagers shown here are not the only wagers of this type possible. For example, position wagers for fifth place, six place, and the like, are possible, depending on field size and bettor interest. For a particular wagering game, a bettor can make the following wagers with regard to two or more participants' performance statistics with respect to the rest of the betting field for that game:.
For example, wagers on first place through fifth place, etc. Also, wagers predicting the finish positions of players in reverse order or wagers that payout based on the selected players all finishing in the selected range, or in any order, are possible. In general, to be eligible for payout, the bettor's wager must be correct. As opposed to contest games, the bettor does not have to prevail over other bettors; the bettor only has to be correct.
In some cases, similar to pari-mutuel wagering systems used in horse racing, a bettor's wager may be eligible for payout if the bettor's wager is partially correct. For example, a wager for Player A to show would be eligible for payout if the player finishes in first, second or third. The wager is not eligible for payout if the player finishes in a position less than third. Example Wagers Eligible for Payout: Type of Wager Wager Eligible for Payout if Win Selected player finishes first Place Selected player finishes first or second Show Selected player finishes first, second or third Clear Selected player finishes first, second, third or fourth Lag Selected player finishes next to last or last End Selected player finishes last Exacta Selected players finish first and second in order Trifecta Selected players finish first, second and third in order Perfecta Selected players finish first, second, third and fourth in order Closing Selected players finish last and next to last in order.
The types of wagers eligibility for payout can be expanded or reduced, depending on the field size and bettor interest. Host 10 may further include some additional capabilities that are described below. The capabilities described herein are not to be assumed to be inclusive of the full capabilities or sole capabilities of the host In the preferred embodiment, the host 10 may have the capability to uniquely identify each game and uniquely identify every betting pool corresponding to each game.
The host 10 will automatically register the total amount wagered in each betting pool, register the total amount wagered on each entry in a game for each finish position e. The host 10 may further have the ability to segregate a portion of the amounts wagered in the various betting pools as the house pool and calculate approximate odds and payouts based on the betting pools after taking the deduction of the house pool funds into account.
The mathematical and statistical algorithms that are used to perform these calculations are well known in the art of pari-mutuel wagering. The host 10 may further have the ability to generate sufficient records of individual wagers to properly handle the various means of placing wagers as well as properly handle the various means of paying winning wagers and refunds, if necessary.
The host 10 may periodically update or recalculate the total amounts in each pool, the amounts wagered on each entrant or combination and the resulting payouts as wagering progresses. The host 10 may further have the ability to export those calculations to various devices for the purpose of displaying the winning odds on each entrant or combination during the progress of wagering. The host 10 may also be adapted to terminate acceptance of additional wagers at the start of the first event that is involved in the outcome of a particular game.
Although not inclusive, the host 10 may calculate payouts based upon various calculation methodologies specific to a particular finish position. For purposes of illustration, calculation methodologies for win, place and show are described. Payout odds are determined by the amounts in the betting pools after taking the house pool deduction into account.
As previously described, the host 10 may periodically update or recalculate payouts as wagering progresses and may be adapted to export those payouts to various devices for display purposes. In one embodiment, host 10 calculates the following payouts for the following wagers, which are described above in section F:. The payoff amount per dollar wagered which will include the gross dollars wagered on the winner for each gross dollar wagered on the winner is determined by dividing the win betting pool by the sum wagered on the winner.
The payoff amount per dollar wagered on the winning entrant, which will include the gross dollar wagered upon the winning entrant to place, will be determined by:. The payoff amount per dollar wagered on the placing i. The payoff amount per dollar wagered on the winning entrant, which will include the gross dollar wagered upon the winning entrant to show, will be determined by:. The payoff amount per dollar wagered on the second place entrant, which will include the gross dollar wagered upon the second place entrant to show, will be determined by:.
The payoff amount per dollar wagered, which will include the gross dollar wagered upon the third place entrant to show, will be determined by:. Other mechanics and calculations of pari-mutuel wagering are well known to those skilled in the art and need not be discussed in further detail. Bettors may interact with system in order to perform the following tasks:.
Depending upon the input element chosen by the bettor, some tasks may be performed in different manners. For example, when the bettor communicates directly with a sportsbook operator, the gaming process, from the bettor's viewpoint, will be predominantly manual, with the bettor communicating directly with a human operator. When the bettor uses an electronic input element, IP compliant signals, human voice or DTMF signals will be the predominant means of performing these tasks.
Internet protocol technology, m-commerce systems, e-commerce systems, voice response systems, voice recognition systems and voice portal systems are well known in the art and need not be described in detail here. These technologies and systems are used by the input, linking and processing elements previously described and additionally shown in FIG.
For illustrative purposes, selected tasks that may be performed by a bettor in the various interface methods are listed below. These lists are non-exhaustive and should not be considered to imply that all of the tasks illustrated are needed to implement the new wagering game or that the items shown are the only items that may be used to implement the illustrated tasks.
If the bettor wishes to place wagers on a cash basis in person in a casino sportsbook, no account needs to be established. The bettor can place cash wagers on the games offered by the casino following the procedures established by the casino sportsbook. Interacting with the game system via telephone may be accomplished by the bettor interfacing with a menu-based, interactive voice response system IVR with the option of speaking to a live operator. The bettor may also receive statistics by selecting a statistics menu block The statistics menu will allow the bettor to obtain statistics related to various sports or sporting events by selecting a specific sport or event e.
Once a bettor has selected the event, the bettor can also obtain statistics relating to individual players and teams by selecting a player e. As shown in FIG. Furthermore, all of the foregoing interactions can be performed through a live operator if the bettor selects the live operator menu e. Interacting with the game system via the internet may be accomplished by the bettor interfacing with the game system or casino website. The websites will have the appropriate links to allow the bettor to appropriately interface with the game system.
This section provides some examples of specific pari-mutuel wagering applications that can be performed by the present pari-mutuel wagering system and method. For purposes of illustration, an embodiment of a wagering game according to the present invention will be described with respect to the National Football League NFL.
Wagers may be placed on where an individual player's statistics will rank compared to the statistics of other players of the same position e. The positions of highest interest are likely those offensive positions used as a basis for fantasy football games. These positions may include quarterback, running back, wide receiver, tight end and kicker.
Each position may be the basis of a game, with time, player grouping, team and statistical methodology variants. Certain defensive player positions as well as team offensive and defensive statistics can also be the basis of a game. In this game, the bettor may place wagers on where a particular quarterback's statistics will rank e.
Suitable time periods may include:. Providing many choices of time-based games enhances bettor enjoyment because the bettor can participate during the pre-season, regular season and post-season to any extent desired. Providing many choices for time-based games also permits a more varied application of bettor knowledge and skill because the skilled bettor can use his or her knowledge of the strength of the NFL schedule, bye weeks, player injury, team standings, and the like, to adjust his or her betting strategy among the various games.
The field for each game could contain all quarterbacks, regardless of standing with respect to being on an active NFL roster or being a free agent. All games may have a time-based component, whether the component is a single event, game, season, or the like. In this game, the bettor can place wagers on where a particular grouping of quarterbacks' statistics will rank e. The player grouping-based game can be combined with the various time-based variants to create more games. Assume, for example, that in the National Football League, there are 32 teams.
Sixteen groups of two players could become the field for the game. Other pairing combinations could be used to create additional games. There are variants with respect to determining the top performers. One variant ranks the groups by using the best performance statistics from the various groups' quarterbacks. Another variant combines the performance statistics of all the quarterbacks in a group before ranking the groups. In this game, the bettor can place wagers on where the combined quarterback statistics for an entire team will rank e.
The team-based game can be combined with the various time-based variants to create more games. This variant is different from the player grouping-based game because quarterback statistics contributed by all players is included. In other words, quarterback statistics accrued by non-quarterbacks is included in the ranking determination. This variant will have more utility when played with respect to rushing statistics and receiving statistics. It is more common to have quarterbacks and receivers run the ball and more common to have running backs catch the ball than it is to have running backs and receivers throw the ball.
Statistical performance measures may be used to rank quarterbacks and groups to determine place of finish. Different performance criteria and weightings may be used to create different games, enhancing player utility, enjoyment and ability to apply knowledge and skill.
As described, each game has a statistical performance scoring methodology in order to be able to rank performances. For the quarterback games, a quarterback's statistical measures such as passing yards, pass completions, completion percentage, interceptions and touchdown passes can be used in various weightings to determine a score that can be ranked against others.
In some games, other measures such as rushing yards and rushing touchdowns can be included. For games involving the other positions, statistical measures applicable to those positions will be used. Rushing yards and touchdowns for running backs, receiving yards and touchdowns for wide receivers and tight ends, field goals and extra points for kickers, and the like, are measures that are typically associated with those positions and may be included as part of the scoring formulae for those positions.
A sample quarterback performance is calculated under both given scoring criteria. Quarterback John Doe's performance for a game is as follows:. Pass attempts 30 Pass completions 18 Passing yards Passing touchdowns 2 Pass interceptions 1 Rushing yards 15 Rushing touchdowns 1. Under the scoring formula shown in Example 1, John Doe's score would be 0. Under the scoring formula shown in Example 2, John Doe's score would be 0.
This shows that depending on scoring methodology, there can be a wide variance of results based on the same performance. In these examples, one formula emphasizes throwing performance while the other recognizes the full contribution of the quarterback. The bettor can apply his or her skill and knowledge to place wagers on quarterbacks that reflect these differences, depending on the particular game the bettor is playing.
The time interval of interest is one week's slate of games. The games are:. Just with the limited number of variants mentioned, 16 different quarterback games may be simultaneously offered each week during the NFL regular season. This number may be higher if more combinations of quarterbacks and more scoring methodologies are offered.
By considering the other time-based and player position variants that are possible, the bettor who has a wagering interest in this sport will have an extremely large selection of games from which to choose during the entire NFL season, not just at the beginning. This gives the bettor a consistent, wide range of choices, providing the bettor greater utility, enjoyment and potential to apply his or her knowledge and skill.
Furthermore, unlike horse and dog pari-mutuel wagering, the present system does not rely on a single statistic i. The only element considered in horse and dog pari-mutuel wagering is time i. With the present invention, a plurality of different statistics may be employed to determine rank.
For example, a quarterback may pass for yards and throw for 4 touchdowns, but that does not necessary correlate to whether the quarterback will win his or her game. The same is true for baseball players who hit multiple home runs in a game. This provides bettors and system operators a much wider variety of options and considerations when placing and crafting different types of wagers.
Moreover, with horse and dog pari-mutuel type wagering, all contestants i. In the present system and method, the contestants i. These leagues have calendar schedules that differ from the NFL's schedule, resulting in wagering games based on this sport to be possible approximately 10 months a year. College football is also a candidate for games, with games based on Division I, II and III teams and players, conferences, bowl games and championship playoffs. The same type of variants will apply as in the NFL-based games, with changes, as necessary, due to differing regular season schedules, pre-seasons, post-seasons, playoffs, bowl games and league structures.
Several baseball leagues exist worldwide that may be of interest to bettors. Games can be created based on professional baseball leagues in the United States major league and minor league , Japan, Korea and Mexico as well as college baseball in the United States. Wagers can be placed on where an individual player's statistics will rank compared to the statistics of other players of the same position e.
The positions of highest interest are likely those positions used as a basis for fantasy baseball games. These positions typically fall into two types, pitcher and position player. Each type may be the basis of a game, with time, player grouping, team and statistical methodology variants. For the pitcher position games, a pitcher's statistical measures such as wins, losses, saves, innings pitched, strikeouts, walks, hits, earned runs, earned run average, and errors can be used in various weightings to determine a score that can be ranked against others.
For the position player games, a player's statistical measures such as hits, home runs, stolen bases, walks, batting average, runs batted in, runs scored and errors can be used in various weightings to determine a score that can be ranked against others.
Several basketball leagues exist worldwide that can be of interest to bettors. Games can be created based on men's professional basketball leagues in the United States and Europe, women's professional basketball in the United States, plus men's and women's college basketball in the United States. Wagers can be placed on where an individual player's statistics will rank compared to the statistics of other players 1 st , 2 nd , 3 rd , etc.
Although there are generally three positions in basketball i. Therefore, all positions may be grouped together, with no separate games based on separate positions. The games may have, like the other games, time, player grouping, team and statistical methodology variants. For the basketball-based games, a player's statistical measures such as minutes played, shooting percentage, free throw percentage, rebounds, assists, personal fouls and points can be used in various weightings to determine a score that can be ranked against others.
Several hockey leagues exist worldwide that can be of interest to bettors. Games can be created based on professional hockey leagues in Canada and the United States NHL and minor league , and Europe as well as college hockey in the United States. Wagers can be placed on where an individual player's statistics will rank compared to the statistics of other players of the same type position e.
The positions of highest interest are likely those positions used as a basis for fantasy hockey games. These positions typically fall into two types, goaltender and position player. Each type will be the basis of a game, with time, player grouping, team and statistical methodology variants.
For the goaltender games, a goaltender's statistical measures such as goals allowed, saves, goals against average and save percentage can be used in various weightings to determine a score that can be ranked against others. Other human sporting events may have utility with respect to the game, depending on bettor interest. These sports include golf, tennis, soccer, vehicle e. The game types, statistics considered, scoring formulae, and the like, will vary depending on the sport. Other human contests or events, such as political elections or beauty pageants, also have utility with respect to the present invention.
For example, consider an American Presidential election. The presidential election process has a primary process and a general election process. Opportunities exist in both processes for wagering games based on the statistics of the participants. Typical statistics for a candidate include popular votes and vote percentage. These statistics can be weighted in various fashions to create games. In addition, the candidates can be grouped to create additional games.
For example, assume that in a state primary there are twenty-four total candidates, representing six political parties. In addition to the basic game, where each candidate's statistics are ranked against each other, candidates can be grouped, as well as parties, to create additional games. In this case, a bettor may place wagers on an individual candidate, a party, or groups of parties. With the wide range of sports and events that occur worldwide, a large number of games will be available throughout the year to provide bettor enjoyment and potential to apply the bettor's knowledge and skill.
According to the present invention, sports wagering is based on a pari-mutuel wagering system, which, by definition, is a system where all bettors are competing for a common pool of funds. Bettors compete against one another rather than against the house. The scope of the present invention is meant to be that set forth in the claims that follow and equivalents thereof, and is not limited to any of the specific embodiments described above.
Year of fee payment : 4. Year of fee payment : 8. Year of fee payment : This invention relates to sports and event wagering, particularly to a new sport and event wagering game and system. This game and supporting system allows pari-mutuel wagering with respect to new areas other than horse or dog racing, which will expand the sports wagering industry to encompass new areas of interest and enjoyment to bettors. Specifically, pari-mutuel wagering is enabled with respect to the performance statistics of individual sport or event participants, combinations of sport participants, combinations of event participants, and sport teams.
This wagering game is supported by an electronic system, which allows interaction with the game via various communications methods, remotely or in-person, which can allow or restrict wagering activity based upon bettor location. There is a continuing need for a sports wagering game that has the following attributes: High odds payout potential for every game, regardless of event type, game type, sport or length of game Allows a single correct choice to be a sufficient condition for payout eligibility, without, in addition, having to beat a house imposed handicap or spread No limitations with respect to choice of wagers or sport participants by the bettor Ability for the bettor to apply knowledge and skill Ability for the bettor to rely on random chance, if desired No requirement for the bettor to have an expert knowledge of a sport in order to be successful Currently choices for wagering on sports are limited by the drawbacks associated with fixed odds wagering.
The present invention enables these and many other benefits to be obtained. Input Elements The input elements include various communication devices used by bettors to interact with wagering system , such as wireless phones 80 e. Linking Elements In the preferred embodiment of the present invention, system includes several linking elements including wireless network 70 , gateway 50 , and portal Processing Elements The wagering system host 10 is the core processing element in the wagering game system, handling wagering gaming and bettor accounting functions.
Interfacing with Wagering System In operation, a bettor can interact with the wagering system by interfacing either directly or indirectly with the wagering system host Typical Wagers that can be placed through System In the preferred embodiment, system is adapted to allow bettors to wager on human sporting events. For a particular wagering game, a bettor can make the following wagers with regard to two or more participants' performance statistics with respect to the rest of the betting field for that game: Finish Position Name of Wager Reference Name First and Second Place Exacta First, Second and Third Place Trifecta First, Second, Third and Fourth Place Perfecta Last and Next to Last Place Closing Note that the position wagers shown here are not the only wagers of this type possible.
Wagers Eligible for Payout In general, to be eligible for payout, the bettor's wager must be correct. Example Wagers Eligible for Payout: Type of Wager Wager Eligible for Payout if Win Selected player finishes first Place Selected player finishes first or second Show Selected player finishes first, second or third Clear Selected player finishes first, second, third or fourth Lag Selected player finishes next to last or last End Selected player finishes last Exacta Selected players finish first and second in order Trifecta Selected players finish first, second and third in order Perfecta Selected players finish first, second, third and fourth in order Closing Selected players finish last and next to last in order The types of wagers eligibility for payout can be expanded or reduced, depending on the field size and bettor interest.
Additional Host Functionality Host 10 may further include some additional capabilities that are described below. Sample Payout Calculation Methodologies Although not inclusive, the host 10 may calculate payouts based upon various calculation methodologies specific to a particular finish position. Second Place Place A. The payoff amount per dollar wagered on the winning entrant, which will include the gross dollar wagered upon the winning entrant to place, will be determined by: dividing the amount wagered upon the winner to place into the sum of: the amount wagered upon the winner to place, plus one-half of the difference between the place betting pool and the combined sum wagered on the winning and placing entrants to place.
Third Place Show A. The payoff amount per dollar wagered on the winning entrant, which will include the gross dollar wagered upon the winning entrant to show, will be determined by: dividing the gross amount wagered upon such winning entrant to show into the sum of: the gross amount wagered on the winning entrant to show, plus one-third of the difference between the show betting pool and the combined sums wagered on the entrants which placed first, second, and third to show.
The payoff amount per dollar wagered on the second place entrant, which will include the gross dollar wagered upon the second place entrant to show, will be determined by: dividing the gross amount wagered upon such entrant to show into the sum of: the gross amount wagered on the second place entrant to show, plus one-third of the difference between the show betting pool and the combined sums wagered on the entrants which placed first, second and third to show.
The payoff amount per dollar wagered, which will include the gross dollar wagered upon the third place entrant to show, will be determined by: dividing the gross amount wagered upon such entrant to show into the sum of: the gross amount wagered on the third place entrant to show, plus one-third of the difference between the show betting pool and the combined sums wagered on the entrants which placed first, second and third to show. Interacting with the Wagering System Bettors may interact with system in order to perform the following tasks: 1.
Establishing, withdrawing and replenishing accounts 2. Selecting particular sport or event wagering games 3. Examining performance statistics 4. Examining odds 5. Placing wagers 6. Collecting winning wagers and account funds Depending upon the input element chosen by the bettor, some tasks may be performed in different manners. Selected Task Lists by Interface Method For illustrative purposes, selected tasks that may be performed by a bettor in the various interface methods are listed below.
In Person If the bettor wishes to place wagers on a cash basis in person in a casino sportsbook, no account needs to be established. Establishing a Wagering Account The following steps may be performed in order for a bettor to establish a wagering account in person through a wagering system operator: a. Bettor provides personal identification information b. Wagering system operator sets up bettor's account c. Wagering system operator provides account information to bettor d.
Bettor communicates amount of initial deposit e. Bettor provides initial deposit f. Wagering system operator provides deposit confirmation to bettor Placing Wagers The following steps may be performed when a bettor places wagers in person through a wagering system operator: a. Bettor communicates wager to wagering system operator b. Bettor communicates account information to wagering system operator c.
Wagering system operator inputs account and wager information into wagering system d. Bettor provides account information to wagering system operator b. Bettor requests amount of funds to disburse c. Wagering system operator confirms that sufficient funds are available d. Wagering system deducts funds from bettor's account e. Wagering system operator pays requested funds to bettor 2. Telephone Interacting with the game system via telephone may be accomplished by the bettor interfacing with a menu-based, interactive voice response system IVR with the option of speaking to a live operator.
Establishing a Wagering Account The following steps may be performed in order for a bettor to establish a wagering account over a telephone: a. Bettor accesses wagering system telephone menu e. Bettor selects account menu e. Bettor provides personal identification information d. Wagering system sets up bettor's account e. Wagering system provides account information to bettor f. Bettor communicates amount of initial deposit g.
Bettor provides payment information h. Wagering system provides deposit confirmation to bettor Placing Wagers The following steps may be performed in order for a bettor to place wagers over a telephone: a. Bettor selects wagering menu e. Bettor inputs account access information to wagering system d.
Bettor selects sport of interest e. Bettor selects type of game e. Bettor selects type of bet g. Bettor selects desired player or team h. Bettor inputs amount of bet i. Wagering system checks account balance to verify sufficient funds available j.
If sufficient, wagering system deducts amount of bet from bettor's account k. Wagering system provides wager confirmation to bettor Collecting Winning Wagers and Account Funds The following steps may be performed in order for a bettor to collect winning wagers and account funds over a telephone: a. Bettor selects distribution menu e. Bettor inputs account access information to wagering system e.
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