WO2015157807A1 - Système et procédé de pari à dividendes progressifs pour distribuer des dividendes progressifs sur un pari - Google Patents

Système et procédé de pari à dividendes progressifs pour distribuer des dividendes progressifs sur un pari Download PDF

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Publication number
WO2015157807A1
WO2015157807A1 PCT/AU2015/000230 AU2015000230W WO2015157807A1 WO 2015157807 A1 WO2015157807 A1 WO 2015157807A1 AU 2015000230 W AU2015000230 W AU 2015000230W WO 2015157807 A1 WO2015157807 A1 WO 2015157807A1
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Prior art keywords
dividend
events
event
wagers
outcome
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PCT/AU2015/000230
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English (en)
Inventor
Scott Robert MCDOWELL
Kim MCAVOY
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Racing And Wagering Western Australia
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Priority claimed from AU2014901425A external-priority patent/AU2014901425A0/en
Application filed by Racing And Wagering Western Australia filed Critical Racing And Wagering Western Australia
Priority to AU2015246641A priority Critical patent/AU2015246641A1/en
Publication of WO2015157807A1 publication Critical patent/WO2015157807A1/fr

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    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F17/00—Coin-freed apparatus for hiring articles; Coin-freed facilities or services
    • G07F17/32—Coin-freed apparatus for hiring articles; Coin-freed facilities or services for games, toys, sports, or amusements
    • G07F17/326—Game play aspects of gaming systems
    • G07F17/3267—Game outcomes which determine the course of the subsequent game, e.g. double or quits, free games, higher payouts, different new games
    • G—PHYSICS
    • G07—CHECKING-DEVICES
    • G07F—COIN-FREED OR LIKE APPARATUS
    • G07F17/00—Coin-freed apparatus for hiring articles; Coin-freed facilities or services
    • G07F17/32—Coin-freed apparatus for hiring articles; Coin-freed facilities or services for games, toys, sports, or amusements
    • G07F17/3286—Type of games
    • G07F17/3288—Betting, e.g. on live events, bookmaking

Definitions

  • the invention relates to a progressive dividend wagering system.
  • the invention is particularly suited towards providing progressive dividends for events or group of events where some propositions can be declared as losers prior to the final event outcome being known.
  • the cost of a wager is generally a function of the wager type. Certain wager types are in fact aggregations of multiple wagers. As such, the cost of these "aggregate wagers" are significantly higher than those of other wager types. At the same time - as these "aggregate wagers" cover more possible winning outcomes - the chance of success of the wager increases accordingly.
  • a progressive dividend wagering system comprising: selecting means for selecting the outcome of each event in a set of events to be associated with a wager; at least one receiving means for receiving at least one wager on outcomes as selected using the selecting means; and distributing means, where, on the determination of a set of successful outcome for an event in the set of events, the distributing means issues a dividend in respect of each wager that has correctly selected a successful outcome provided that the wager has also correctly selected a successful outcome in relation to all previous events in the set of events.
  • At least a portion of an amount paid for each wager may be allocated to a dividend pool associated with each event in the set of events and the dividend issued in respect of each wager is calculated by dividing the amount allocated to the dividend pool for that event by the amount of wagers that have selected a successful outcome for the event.
  • the dividend is calculated according to set formulas as described hereafter.
  • the at least one receiving means may be further operable to place at least one wager on an outcome of a single event in the set of events and where, at least a portion of the amount paid for each wager, and a least a portion of the amount of each wager placed on an outcome of a single event, is allocated to a dividend pool associated with the single event, and the dividend issued in respect of each wager is calculated by dividing the amount allocated to the dividend pool for the single event by the amount of wagers that have selected a successful outcome for the event.
  • the distributing means may be further operable to issue an extra dividend in relation to wagers that have correctly selected a successful outcome for the single event , provided that the wager has also correctly selected a successful outcome in relation to all previous events in the set of events.
  • the extra dividend is calculated by dividing the sum of dividends that would have been issued in respect of wagers that have selected a successful outcome for the event had the wager not selected an incorrect outcome for an earlier event in the set of events by the amount of wagers that have selected a successful outcome for the event as well as having correctly selected a successful outcome in relation to all previous events in the set of events.
  • a preferred formula for calculating the dividend in this arrangement is described hereafter.
  • the selecting means may allow for the outcome of each event to be selected up to the time of commencement of the event However, if a wager has not selected an outcome for an event prior to commencement of the event, the selecting means may assign a default selection for the event to the wager.
  • the dividend distributed by the distributing means may comprise a base dividend and an extra dividend.
  • the at least one receiving means may operable to receive at least one wager on outcomes selected using the selecting means for a subset of events in the set of events.
  • the base dividend represents the amount allocated to the dividend pool for the event under consideration divided by the amount of wagers that have selected a successful outcome for the event.
  • An extra dividend may be issued to wagers placed in relation to the full set of events, where the wager has selected a successful outcome for the event and selected a successful outcome for all previous events in the set of events. Preferred formulas for calculating this extra dividend are described.
  • the extra dividend issued to wagers that have selected a successful outcome for the event and selected a successful outcome for all previous events in the subset of the set of events may be calculated by multiplying the extra dividend by an extra dividend factor. Preferred formulas for calculatin this extra dividend are also described.
  • Wagers placed in relation to a subset of the events may be levied with a premium relative to the cost of wagers placed in relation to the full set of events.
  • the premium may be calculated on a per event basis, and/or the premium varied from event to event based on the level of wagering investment on the event at the time of placement.
  • each wager placed in relation to a subset of the events may receive a fractional entitlement of each extra dividend compared to the enarement of each wager placed in relation to the full set of events.
  • the set of events may itself be a subset of a knock-out tournament set of events and each event in the set of events represents a match in a round of a knockout tournament.
  • a progressive dividend wagering system comprising: at least one receiving means for receiving at least one wager on an outcome of an event; and distributing means, where, at each point in time, prior to determination of a set of successful outcomes for the event, that one or more outcomes no longer have potential to be a successful outcome for the event, the distributing means issues a dividend in respect of each wager that has selected an outcome that may still be a successful outcome for the evet.
  • An outcome may no longer have potential to be a successful outcome in one or more of the following circumstances: the outcome is no longer mathematically possible; the outcome is designated as no longer practically possible by a wagering operator.
  • the issued dividend may be calculated by dividing at least a portion of an amount equal to the sum of amounts wagered on the one or more outcomes that no longer have the potential to be a successful outcome for the event by the sum of amounts wagered that have selected an outcome that may still be a successful outcome for the event. Again, preferred formulas for calculating the issued dividend are provided.
  • the set of events may represent one or more of the following: the matches of a sports league; the matches of a qualifying tournament; a set of races at a race meet; a set of qualifying races; episodes of a serialised television programme in which contestants are periodically eliminated; the electoral districts of an election; Simiarly, the event the subject of the second aspect of the invention may be one of the following: a competition-based television program; an election; a tally-based or performance-based awards ceremony; an in-game event.
  • the wagering operator may specify the order of the set of events for the purposes of determining whether an event in the set of events is previous to another event in the set of the events.
  • a multiplication factor may be applied to a normal cost of the wager to reflect the status of wagering at the time of its placement.
  • the commission rate (K) may vary according to the number of previous dividends that have issued.
  • a method for issuing a progressive dividend comprising: selecting an outcome of each event in a set of events to be associated with a wager; receiving the wager as selected; determining a set of successful outcomes for an event in the set of events; and issuing a dividend in respect of each wager that has correctly selected a successful outcome provided that the wager has also correctly selected a successful outcome in relation to all previous events in the set of events.
  • the method may further comprise the steps of: allocating a portion of the amount paid for each wager to a dividend pool associated with each event in the set of events; and calculating the dividend to be issued by dividing the amount allocated ot the dividend pool for the event by the amount of wagers that have selected a successful outcome for the event.
  • the step of calculating the dividend to be issued may factor in the amount allocated to the dividend pool for the single event by the amount of the wagers and single event wagers that have selected a successful outcome for the event.
  • the method may further rinclude the step of distributing an extra dividend in respect of wagers that have correctly selected a successful outcome for the single event provided that the wager has also correctly selected a successful outcome in relation to all previous events in the set of events.
  • the extra dividend may be calculated by dividing the sum of dividends that would have been issued in respect of wagers that have selected a successful outcome for the event had the wager not selected an incorrect outcome for an earlier event in the set of events by the amount of wagers that have selected a successful outcome for the event as well as having correctly selected a successful outcome in relation to all previous events in the set of events.
  • the step of selecting an outcome of each event in a set of events may comprise the repeating step of selecting an outcome for an event in the set of events.
  • the method may further include the step of assigning a default selection for an event if an outcome has not been selected for the event prior to its commencement.
  • the step of issuing a dividend may comprise the substeps of issuing a base dividend and issuing an extra dividend.
  • the method may further comprise the step of receiving at least one additional wager on outcomes selected in respect of a subset of events in the set of events.
  • the base dividend ideally represents the amount allocated to the dividend pool for the event under consideration divided by the amount of wagers that have selected a successful outcome for the event.
  • the extra dividend issued to wagers that have selected a successful outcome for the event and selected a successful outcome for all previous events in the subset of the set of events may be calculated by multiplying the extra dividend by an extra dividend factor.
  • the method may further comprise the step of levying a premium on each additional wager placed in relation to a subset of the events relative to the cost of wagers placed in relation to the full set of events.
  • the method may further comprise the step of determining a fractional entitlement of each extra dividend for each additional wager compared to the entitlement of each wager placed in relation to the full set of events.
  • the amount wagered on unsuccessful outcome(s) of the event may be distributed to wagers placed on the successful outcome(s) of the event in proportion to the amount of each wager placed on a successful outcome.
  • a method for issuing a progressive dividend comprising the steps of: receiving at least one wager on an outcome of an event; and prior to determination of a set of successful outcomes for the event, at each point in time that one or more outcomes no longer have potential to be a successful outcome for the event, issuing a dividend in respect of each wager that has selected an outcome that may still be a successful outcome for the event.
  • the method may further comprise the step of calculating the issued dividend by dividing at least a portion of an amount equal to the sum of amounts wagered on the one or more outcomes that no longer have the potential to be a successful outcome for the event by the sum of amounts wagered that have selected an outcome that may still be a successful outcome for the event.
  • the method may further comprise the step of specifying the order of the set of events for the purposes of determining whether an event in the set of events is previous to another event in the set of the events.
  • the method may also comprise the step of varying the the commission rate (K) according to the number of previous dividends that have issued.
  • Figure 1 is a schematic representation of a pari-mutuel wagering system according to a first example of the invention.
  • Figure 2 is a schematic representation of a predictive dividend tool as used in a first example of the invention.
  • Figure 3 is a table setting out the wager selections for the second example.
  • Figure 4 is a chart illustrating the wager selections of customers in the multiple-leg pool for the second example.
  • Figure 5 is a chart summarizing the returns generated by the ten participating customers in the Multiple-leg Pool in the second example.
  • Figure 6 is a table outlining the wager selections of customers in the third example.
  • Figure 7 is a table outlining the wager selections of customers in a fifth example.
  • Figure 8 is a flowchart of the methodology underlying each of the second through fifth examples.
  • Figure 9 is a table setting out all of the scoring options available to a customer in the sixth example.
  • Figure 10 is a table showing the availability of correct score options relative to the current score in the sixth example.
  • Figure 11 is a table outlining the wager selections and total pari-mutuel returns for each customer in the sixth example.
  • Figure 12 is a chart outlining the actual progressive dividends payable for each wager selection, based upon the time the wager selection was made in the sixth example.
  • Figure 13 is a flowchart of the methodology underlying the sixth example.
  • Figure 14 is a diagram outlining the progressive dividend calculation process for a seventh example after the result of the final is known.
  • Figure 15 is a diagram outlining the progressive dividend calculation process for the eighth example after the result of the final is known.
  • Figure 16 is a diagram outlining the progressive dividend calculation process for the ninth example after the result of the final is known.
  • Figure 17 is a flow chart outlining the progressive wagering pool processes for a knock-out tournament wagering pool underlying the seventh through ninth examples.
  • Figure 18 is a table showing the progressive wagering pool for round 7 under example 10.
  • the wagering system 10 comprises a wager processor 12 and at least one wager terminal 14. Each wager terminal 14 is in data and control communication with the wager processor 12.
  • the wager processor 12 is a computer system generally in the form known as a server.
  • the components of such a computer system would be well known to the person skilled in the art and thus will not be described in more detail hereafter except as where relevant to a proper understanding of the invention.
  • the at least one wager terminal 14 is a computer system in the form of an internet-enabled desktop computer. Again, the components of such a computer system would be well known to the person skilled in the art and thus will not be described in more detail hereafter except as where relevant to a proper understanding of the invention.
  • the invention will now be described in the context of a number of examples aimed at illustrating the core concepts underlying the invention.
  • the first example illustrates the general processing and data flow underlying the invention with minimal reference to representative data.
  • the remaining examples illustrate the invention with greater reference to data values, but without further reference to the processing and dataflow framework described in the first example except where necessary to properly explain the relevant example.
  • backend software 18 stored on the wager processor 12 is executed. Execution of the backend software 18 causes the wager processor 12 to seek to establish, and maintain, a data and control communication link 20 with each wager terminal 14 via the internet 16.
  • client-side software 22 stored on the wager terminal 14 is executed. Execution of the client-side software 22 causes the wager terminal 14 to properly respond to any attempt to establish the communication link 20 and thereafter maintain the established communication link 20.
  • the backend software 18 operates to create a series of data structures representing:
  • a customer 30 seeking to place a wager approaches a wager terminal 14.
  • Client-side software 22 executing on the wager terminal 14 guides the customer 30 through preliminaries associated with the placing of the wager by way of a display 32.
  • the customer 30 is first guided to select the type of wager 26 they wish to place.
  • the wager 26 selected is a wager that incorporates the progressive dividend functionality of the present invention.
  • the user is again guided by the client side software 22 to choose the event they wish to place the wager 26 on.
  • the customer 30 selects a knock-out tournament which has multiple rounds.
  • the customer 30 will be presented with details of either the matches of the full tournament, or simply details of those matches still to be resolved. In either situation, the details to be presented represent the propositions competing within each round. The customer 30 then selects the proposition(s) they expect to win the tournament. [0064] Once the customer 30 has selected the proposition(s) they expect to win, the client side software 22 seeks to display to the customer 30 the projected progressive and final dividends for their selected outcomes. To get this information, the wager terminal 14 communicates with the wager processor 12.
  • the customer 30 is directed to a predictive tool 34 as shown in Figure 2.
  • the predictive tool 34 displays all of the propositions competing within each round that are still to be resolved as well as the amount wagered on each such proposition.
  • the predictive tool 34 pre-selects those propositions already chosen by the customer 30 as part of their wager 26.
  • the customer 30 is then required to select one proposition for each of the matches not already pre-selected whom they believe will win the match.
  • the client side software 22 again communicates with the wager processor 12. This communication requests the backend software 18 to determine a progressive or final dividend value, as appropriate, based on the assumption that the predicted selections are correct reflections of the actual outcomes.
  • the customer 30 may change their selections made via the predictive tool 34 at any time to receive an updated calculation of the progressive and final dividends. Once the customer 30 is satisfied with their predictive analyses, the predictive tool 34 is then closed.
  • the customer 30 may then change their wager selections to match outcomes they have formulated in the predictive tool 34.
  • the client side software 22 again seeks to determine progressive and final dividend values for the changed selection if possible.
  • the customer 30 With the customer 30 now having chosen their selections for each match, as well as the type of wager to be placed, the customer 30 is now prompted by the client-side software 22 to either enter or select the amount of the wager they wish to make. If the wager 26 is placed for an amount other than the standard cost of the wager, any stated amount of potential progressive or final dividends will be modified to represent the proportional difference between the amount wagered and the standard cost of the wager.
  • the customer 30 is shown via the display 32 a summary of their wager 26 and asked to confirm placement of the wager 26.
  • the client-side software 22 operates to obtain appropriate payment for the wager 26. Means and systems for obtaining such payment would be well known to the person skilled in the art and therefore will not be described in more detail here.
  • a wager 26 on these same terms is established by the back-end software 18 and associated with the customer 30. This includes distributing the amount wagered amongst the at least one wagering pool 24.
  • the manner in which the wagering pools 24 are operated, and referenced, differs according to the nature of the progressive dividend calculations employed and thus will be described in more detail in later examples.
  • each football match there are three separate football matches between a home team and an away team.
  • the result of each football match will either be (i) the home team wins; (ii) the away team wins; or (iii) the game is drawn.
  • Customers may place wagers on the three separate football matches at any time up until the scheduled commencement of the first of the three football matches.
  • the customer specifies their expected outcome of each of the three football matches and the amount of the wager according to mechanisms already described.
  • a wagering pool is established (hereafter referred to as the "Multiple-Leg Pool").
  • the wager is placed for an amount of $3.
  • a further nine (9) wagers are also placed for an amount of $3 each.
  • the selected expected outcomes of each placed wager is indicated in Figure 3.
  • a first progressive dividend is distributed from the first notional pool.
  • the first progressive distribution is calculated according to the following formula : where:
  • P g Di is the first progressive dividend
  • T m i is the total amount of wagers allocated to the first match
  • C m i is the value of correct wagers allocated to the first match; and k is the pool commission rate.
  • P g D 2 is the second progressive dividend
  • T m 2 is the total amount of wagers allocated to the second match
  • E is the value of correct wagers allocated to the second match by eligible customers; and k is the pool commission rate applicable for the wager type.
  • Figure 5 provides a summary of the returns generated by the ten participating customers in the Multiple-leg Pool.
  • the four customers who correctly selected the winning home team in each match received $5.93 (totalling $23.71 ), one customer who correctly selected the first two football matches, but not the third, received $3.43 and two additional customers who correctly selected the home team in the first football match before becoming ineligible following an incorrect selection of the away team in the second football match each received $1.43 (totalling $2.86).
  • the remaining three customers who incorrectly selected the away team in the first football match did not receive any pari-mutuel return.
  • Example 3 Multiple-Leg Wagers Combined with Single-Leg Wagers
  • this third example comprises three separate football matches between a home team and an away team.
  • customers have the option to place a wager on either:
  • the wager must be placed before the scheduled commencement of the first of the three football matches. If the customer is placing a wager on a single football match, the wager must be placed before the scheduled commencement of the football match that is the subject of the wager.
  • Example 2 For ease of comparison, the ten customers of Example 2 participate in this third example using the same selections and contributing the same wager amount to the Multiple + Single Pool (i.e. $30). For this third example, however, a further forty-six (46) customers place $1 wagers on single football matches as set out in Figure 6. These single match investments tally as follows:
  • each progressive dividend, except for the first one, and the final dividend are calculated on a different basis to that outlined in Example 2.
  • the first progressive dividend can be calculated according to the formula for the first progressive dividend as set out in the second example.
  • T m i and C m i values are modified to take into account both the multiple match wagers and the single match wagers placed on this first football match.
  • the resultant dividend is the Base Dividend for this first football match and all successful wagers on this first football match will be entitled to receive this Base Dividend.
  • a base dividend is calculated as per the formula provided above for determining the second progressive dividend.
  • the successful multiple-leg wager customers who remain eligible are paid out an extra dividend.
  • the extra dividend is paid out of an extra dividend pool.
  • the extra dividend pool is funded from the second progressive dividend that the ineligible multiple-leg wager customers would otherwise be entitled to if they had correctly selected the outcome of the first football match. Accordingly, in this case, the extra dividened pool amounts to $2.67, being the rounded amount of the $1.33 payout otherwise due to each of the two correct, but ineligible, multiple-leg wager customers.
  • the extra dividend pool is then divided solely amongst the successful eligible multiple-leg wager customers. In this example, this equates to an extra dividend of $0.53 each.
  • Table 1 shows the type and amount of dividends distributed to each successful customer (either eligible multiple-leg or single-leg) in this example as either a second progressive dividend or a final dividend.
  • P g D 2 is the second progressive dividend
  • BD is the Base Dividend
  • l m 2 is the total value of ineligible but correct multiple-leg wagers allocated to the second match
  • M is the value of correct wagers allocated to the second match eligible multiple-leg customers; and k is the pool commission rate applicable for the wager type.
  • the final dividend paid out on completion of the third football match is calculated on the same basis as used to calculate the second progressive dividend. Accordingly, the sixteen correct selections share a pool of $27, giving a final dividend of $1.69 for each successful single-leg customer and a base dividend of $1 .69 for each successful eligible multiple-leg customer.
  • Table 2 again shows the type and amount of dividends distributed to each successful customer (either eligible multiple-leg or single-leg) in this example as a final dividend.
  • Example 4 is identical to example 2 except at the time of placement of the multiple-leg wager, the customer has the option of either specifying the outcome of just the first football match or the outcomes of each of the three football matches. In this manner, the multiple-leg customer is placed in the same position as the single-leg customers in that they can take advantage of all timely information that may impact on their choice of outcome prior to the scheduled commencement time of the football match concerned.
  • the customer specifies the outcome of just the first football match, prior to the scheduled commencement of the second football match, the customer must return to a wager terminal 14 and utilise the client-side software 22 operable thereon to specify their chosen outcome of the second football match or both the second football match and the third football match. If the customer specifies only the outcome of the second football match, the customer must again return to the wager terminal 14 and utilise the client-side software 22 operable thereon to specify their chosen outcome of the third football match prior to the scheduled commencement of the third football match.
  • the wagering system 10 must be able to link the customer back to their original multiple-leg wager. This may be done by the customer being issued with a unique identification code for their multiple-leg wager at the time of placement, which when subsequently entered allows the appropriate multiple-leg wager to be recalled for editing. Alternatively, the customer may need to establish an account with the wagering system 10 with all wagers placed by the customer through the account automatically being linked to the account for future recall and editing.
  • the wagering system 10 may take automatic action.
  • the automatic action is to assign the customer with a default selection that would be communicated at the time of making the wager i.e. possibly the favourite outcome of the football match concerned.
  • the base number of customers, the wagers placed by such customers, etc. all remains the same as referred to in the third example.
  • the first football match concludes with a win to the home team.
  • successful multiple-leg customers hereafter referred to as "original multiple-leg customers”
  • original multiple-leg customers are issued a first progressive dividend of $1.56.
  • Single- leg customers who have successfully wagered on the outcome of the first football match are issued a final dividend of $1 .56.
  • the total cost of the multiple-leg wagers for the three new multiple- leg customers is $6, being $2 for each of the new customers. This represents an additional investment of $3 to the notional dividend pool for the second football match and $3 for the third football match. To avoid confusion, the combined pool for this example is referred to hereafter as the "Incremental Multiple + Single Pool" and has a balance of $82.
  • this consideration takes the form of not allowing the new multiple-leg wager customers to have access to the funds contributed to the round by original multiple-leg wager customers who have since become ineligible for progressive dividends.
  • the pari-mutuel return (i.e. final dividend) paid out to each successful single-leg customer is $1.35 ($27 divided equally amongst the twenty winning wagers). This $1.35 also equates to the base dividend for each of the successful eligible multiple-leg customers (new and original).
  • the successful original eligible multiple-leg customers are eligible for an extra dividend calculated as set out in the third example.
  • the extra dividend to be issued thus amounts to $0.54 in this example.
  • the total notional dividend pool for the third football match has a balance of $30, the pari-mutuel return (i.e. final dividend) paid out to each successful single-leg customer is $1.76 ($30 divided equally amongst the seventeen correct wagers). This $1.76 also equates to the base dividend for each of the successful eligible multiple-leg customers (new and original).
  • E g D3 is the baseline extra dividend
  • BD is the Base Dividend
  • lm 3 is the total amount of ineligible but correct multiple-leg wagers allocated to the third match
  • EF is the extra dividend factor.
  • k is the pool commission rate applicable for the wager type.
  • EF is the extra dividend factor
  • Emo is the total amount of correct original eligible multiple-leg wagers allocated to the third match;
  • E mn is the total amount of correct new eligible multiple-leg wagers;
  • P 0 is the percentage of the eligible original multiple-leg customers of original multiple-leg customers at the time the new multiple-leg wager was placed.
  • Example 6 In-play Wagering
  • wagers may continue to be taken in respect of each of the eighteen outcomes, until such time as each outcome is no longer possible (either mathematically or practically).
  • this progressive wagering pool will be referred to as the "in-play progressive wagering pool"
  • P g Di is the first progressive dividend
  • l_si is the total amount of losing wagers at the score
  • Tsi is the total wagering investments in the pool at the score
  • CL-S1 is the cumulative value of losing wagers at the score; and k is the pool commission rate.
  • the first progressive dividend is then paid out to all customers who have wagered on an outcome that remains mathematically possible.
  • the away team scores a goal to equalise the scoreline at 1-1.
  • the second progressive dividend resolves as follows:
  • PgDM is the progressive dividend applicable for the relevant proposition for the relevant round of the tournament
  • I_ M is the total amount of losing wagers for all matches in the relevant tournament round
  • W M is the total amount of winning investments for the relevant proposition for the relevant round of the tournament; and k is the pool commission rate applicable for the wager type.
  • Seed 1 is victorious over Seed 4 and Seed 3 is victorious over Seed 2.
  • the $3,250 wagered on losing competitors is then redistributed to customers who placed a wager on a winning competitor in both the quarter final and semi-final rounds using the same formula as set out above.
  • Example 8 is a variant on the seventh example, and seeks to provide a return commensurate with the status of wagering for each proposition.
  • PgDM is the progressive dividend applicable for the relevant proposition for the relevant round of the tournament
  • L M is the total amount of losing wagers for all matches in the relevant tournament round
  • N is the number of non-losing propositions for all matches in the relevant tournament round
  • WM is the total amount of winning investments for the relevant proposition for the relevant round of the tournament
  • k is the pool commission rate applicable for the wager type.
  • This ninth example operates in a manner similar to the seventh example but with the addition of apportioning part of the losing wagers to a pool funding the issue of an extra dividend.
  • the extra dividend is calculated according to the formula:
  • E x D R is the extra dividend applicable for the relevant round
  • LR is the total amount of losing wagers for the relevant round
  • Tp is the total progressive winning wagering investments on all eligible tennis players at the completion of the round
  • R % is the proportion of the losing wagers for the relevant round to be redistributed via the extra dividend process; and k is the pool commission rate applicable for the wager type.
  • L is the total amount of losing wagers for the relevant match
  • W is the total amount of winning wagers for the relevant match
  • Ro /0 and ED are the same values as set out in the previous paragraph.
  • this variable can be used to optimise the balance between rewarding customers who wager on an outsider with a return commensurate with their higher level of wagering risk with the benefit of aggregating a portion of the overall losing wagering investments.
  • Each football match is a contest between a home team and an away team. Each football match is also separate to each other football match.
  • the first football match concludes with the outcome being a win for the home team. As there are $3 of investments for this first football match and two correct selections, a first progressive dividend of $1.50 is issued to the customers who made correct selections (i.e. the first and third customers).
  • P is the premium to be applied to the multiple-leg wager on a per leg basis.
  • Fl is the total amount of ineligible multiple-leg investments allocated to future legs for which an outcome remains to be determined.
  • FE is the total amount of eligible multiple-leg investments allocated to future legs for which an outcome remains to be determined.
  • Payment of the premium and base wager cost by the fourth customer means that the overall investments in the third to eight football matches increases from $3 per match to $6 per match. This comprises $4 in base wagers from each customer and $2 in premiums paid by the fourth customer.
  • This progressive dividend comprises a base dividend of $1.67 (being the $5 in base wagers divded by the three correct selections made in the wagers).
  • the unpaid base dividend is then incorporated into the extra dividend along with the premium payments of $4. This results in an extra dividend being paid out to the first and fifth customers of $2.83 and a total progressive dividened being paid out to each of these customers of $4.50.
  • FPD is the fractional entitlement to the declared extra dividends for future legs which have not been resolved.
  • FE is the total amount of eligible multiple-leg investments allocated to future legs for which an outcome remains to be determined.
  • Tl is the total multiple-leg investments allocated to future legs for which an outome remains to be determined.
  • the base dividend is then multiplied by the customer's FPD value to arrive at the base dividend amount ot be paid out to each customer.
  • TED is the total extra dividend pool
  • IBD is the sum of all ineligible base dividends made in respect of full round wagers
  • BD is the base dividend
  • j represents the number of customers (not being full round wager customers) who have placed a multi-leg wager that selected the successful outcome of the leg.
  • FPD is the FPD value for customer i.
  • SED is the share of the extra dividend pool for each eligible customer.
  • TED is the total extra dividend pool as calculated above.
  • TEFE is the relevant customer's share of the total eligible fractional entitlements.
  • the extra dividend pool is then calculated. This incorporates the full base dividend to which the third customer would have been entitled if not earlier ruled ineligible by an incorrect selection.
  • the additional component of the extra dividend pool represents the sum of all base dividends reduced by the fractional entitlements already paid. This means that the dividend pool comprises $1.33 (the third customer's full base dividend) and $0.89 (being the difference between the proportional base dividend paid to the fourth customer and the full base dividend).
  • a season league style event such as the EPL, NBA or AFL where teams are progressively eliminated;
  • the invention has equal application to other types of events such as multiple events in the same sport comprising two or more separate legs; Multiple events in the same sport incorporating actual scores or margin; Multiple events across different sports; Multiple races in a single race meeting (e.g. Quadrella, Tip 6, etc); and Multiple races across different race meetings (e.g. Favourite Numbers).
  • the invention lies in the progressive resolution of a wagering pool, instead of a single pool resolution at the conclusion of the relevant event and not just the formulas used to calculate progressive dividends and total pari-mutuel returns to customers. Further the invention enables the combining of multiple-leg wagers with single-leg wagers in a common pool that provides for the calculation and redistribution of pari-mutuel returns that are commensurate with the risk undertaken by multiple-leg and single-leg customers respectively.
  • a further key advantage of this invention is that they can accommodate a fixed commission rate of return regardless of the level of wagering and without the margin risks (and loss potential) of fixed odds betting. This allows wagering operators to reduce their pool commission rates to competitive levels and reduce the costs associated with monitoring and managing fixed odds markets.
  • the invention can be modified such that rather than there being a single successful outcome upon which the progressive dividend is issued, multiple successful outcomes may be specified. For instance, a "successful outcome" which triggers a progressive or final dividend may be the result of a chosen competitor finishing in one of the first three places (i.e. a gold, silver or bronze placing in an OlympicTM event). This then allows the type of wager placed to vary from simply a "win” bet to other bet types, such as "show” or "place” bets.
  • the invention may be modified to allow multiple combinations of multiple-leg bets to be specified in summary form.
  • the customer may select a single outcome of the first round (A), both outcomes of the second round (B)/(C) and a single outcome of the third round (D).
  • this wager as specified actually represents two multiple-leg wagers, one for (A), (B) and (D) and one for (A), (C) and (D).
  • this ability to specify a multiple-leg wager in summary form comes at a greater wager cost.
  • the at least one wager terminal may be one of the following: a dedicated terminal located at a betting outlet or at the location where the event concerned is conducted; a customer's personal or tablet computer; other form of communications device connected to the wagering processor either directly through a wired or wireless network or connected to the wagering processor via the Internet.
  • the amount unsuccessfully wagered on each particular match may be divided amongst the amount successfully wagered on that match.
  • the principle explained in the third embodiment whereby the prize pool for multiple-leg wagers is integrated with the prize pool for single- leg wagers may be extended to other bet types such as exotic bets.
  • the prize pool may be co-mingled with bets placed by multiple wagering oeprators.
  • the sixth example of the above invention can be modified to meet other in-game criterion.
  • the in-game criterion that may trigger a progressive dividend may be: the number of runs scored in the next over of a cricket match; the leading run scorer in an innings of a cricket match; the number of goals scored in a quarter of an AFL match; or the number of games to be played in a set of a tennis match.
  • the wagering operator may predetermine the event resolution sequence for a multiple-leg pool based upon the scheduled starting and / or completion time, as advised by the relevant event controlling authority, or such other basis so as to ensure the pool is resolved in a nominated order of events from a wagering perspective.
  • a multiplication factor may be applied to the wager based on the status of wagering at the time of its placement. This multiplication factor can then be used to more accurately provide a reward to customers representative of the risk undertaken.
  • the method by which the operator indicates the value of progressive dividends in a multiple-leg pool may be expressed in proportion to the amount allocated to each specific leg or may be expressed in proportion to the total value of the wager across all legs.
  • the commission rate (K) may be applied on a contingent basis or on a sliding scale. For instance, the commission rate (K) may be adjusted subsequent to the initial progressive dividend being declared so that it is decreased when applied to subsequent progressive dividends.
  • the commission rate (K) may be higher on progressive dividends than final dividends, so that some of the commission (K) can be retained by the operator and applied as a jackpot into the final leg of a multiple-leg pool.
  • Reinvestment of one or more progressive dividends may be achieved through automated processes. For instance a customer may periodically receive an electronic communication to an appropriate communication device advising as to the receipt of one or more progressive dividends and allowing the customer to reinvest all or part of the progressive dividend(s) into selections still "live” within the same pool, or into subsequent event pools, through a "one-click" system as would be readily known to the person skilled in the art.
  • the customer may configure a series of specific reinvestment conditions associated with the progressive dividends using the client-side software.
  • the client-side software then communicates these rules to the back- end software that triggers the reinvestment process in accordance with such rules on each rules associated conditions being met.
  • the customer may be able to automatically redeem (cash in) a correct wager at the time of progressive resolution of a pool so that they receive their relevant progressive dividend as well as the return of their original wager amount.
  • the system may seek to provide the customer with information regarding the value of any progressive dividends received (or potentially receivable, based upon the current status of one or more relevant events) by a variety of channels.
  • communication may be by way of existing wagering infrastructure, such as monitors or TV screens located in betting outlets.
  • this may be expanded to allow for communication by way of dedicated sporting broadcasts, whether through terrestrial television or radio technology or through internet-based technologies, such as webcasting or streaming.
  • the wagering terminal may also be a dedicated hardware device.
  • the client-side software is implemented in the physical hardware of the wagering terminal.
  • the system may be modified to allow the wagering operator to suspend, either for a time period or indefinitely, the ability to place wagers attracting a progressive dividend on one or more outcomes.
  • the client side software may include, or integrate with, other software to allow data capture from other informational sources.
  • the system 10 may incorporate rounding arrangements which may apply to the value of progressive dividends as well as rounding of final dividends.
  • the system 10 may operate to record details of the pari-mutuel wager and any associated progressive dividends or final dividends by way of an account, card or voucher system.
  • Payment by, and to, the customer may be through an account held with the wagering operator. Alternatively, such payments may be made through electronic card processing or cash.
  • the wagering operator may seed the appropriate wagering pool.
  • the amount seeded may be a fixed amount or calculated by way of a seeding formula. In the latter case, the formula may allow for seeding in stages as the overall wagering pool size meets certain milestones.
  • wagering pools can also be established to handle pari-mutuel returns on exotic bet types, including, but not limited to; Trifecta, Quinella, Exacta, Double, First 4, Quadrellas, Pick (n) and Superfecta. These additional wagering pools may supplant or run alongside the wagering pool(s) for simple bets.
  • the system may incorporate minimum total pari-mutuel returns (e.g. $1.04 for each $1 invested) so that customers are not in a position where the amount received in the form of total pari-mutuel returns for a successful multi-leg pari-mutuel wager is less than the original amount wagered.
  • minimum total pari-mutuel returns e.g. $1.04 for each $1 invested
  • the wager processor and wager terminal may have a dedicated data and control connection operating through a network other than the Internet or through other data communication mediums.
  • the customer may place pari-mutuel wagers and initiate reinvestment choices through interactive voice recognition techniques.
  • the wager processor may be integrated with a wager terminal.
  • a set of rules for determining when a wager is to be placed may be formulated by a customer and facilitated by way of the wagering system.
  • Customers may be presented with real time and historical information regarding their wagers and/or the value of progressive dividends paid, or payable. Such information may be presented in tabular or graphical form.
  • TC is the total cost of the wager calculated on a per leg basis.
  • Tl is the total multiple-leg investments allocated to future legs for which an outome remains to be determined.
  • FE is the total amount of eligible multiple-leg investments allocated to future legs for which an outcome remains to be determined.
  • the premium calculation used in example 10 for incremental multiple-leg customers may be an even amount applicable for each subsequent leg in a wagering pool or there could be a different amount applicable on each leg if there is, for example, varying levels of wagering investment applicable on each subsequent leg.
  • the link between the customer and their original multiple-leg wager may be down by cross-referencing a unique identifier associated with the wager terminal 14 and the wager.
  • a unique identifier may take the form of the mobile phone's IMEI or the tablet computer's MAC address.

Abstract

L'invention concerne un système de pari à dividendes progressifs (10) qui comporte un moyen de sélection pour sélectionner le résultat de chaque événement dans un ensemble d'événements à associer à un pari, et au moins un moyen de réception pour recevoir au moins un pari sur des résultats sélectionnés à l'aide du moyen de sélection. Suite à la détermination d'un ensemble de résultats positifs pour un événement dans l'ensemble d'événements, un moyen de distribution distribue un dividende relativement à chaque pari qui a sélectionné correctement un résultat positif, à condition que le pari ait également sélectionné correctement un résultat positif relativement à tous les événements précédents dans l'ensemble d'événements. Dans une autre variante, des dividendes progressifs peuvent être distribués à tous les paris sur un événement qui ont sélectionné un résultat qui continue à avoir le potentiel d'être un résultat positif pour l'événement lorsqu'un résultat sélectionné n'a plus le potentiel d'être un résultat positif pour l'événement.
PCT/AU2015/000230 2014-04-17 2015-04-17 Système et procédé de pari à dividendes progressifs pour distribuer des dividendes progressifs sur un pari WO2015157807A1 (fr)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU2015246641A AU2015246641A1 (en) 2014-04-17 2015-04-17 Progressive dividend wagering system and method for issuing progressive dividends on a wager

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
AU2014901425A AU2014901425A0 (en) 2014-04-17 Progressive dividend wagering system and method for issuing progressive dividends on a wager
AU2014901425 2014-04-17

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Citations (4)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6612927B1 (en) * 2000-11-10 2003-09-02 Case Venture Management, Llc Multi-stage multi-bet game, gaming device and method
US6793575B2 (en) * 2000-11-10 2004-09-21 Case Venture Management, Llc Racing game
US20080113765A1 (en) * 2006-11-10 2008-05-15 Igt Gaming system and method providing venue wide simultaneous player participation based bonus game
US20090005175A1 (en) * 2007-06-29 2009-01-01 World Sports Challenge Ltd. Parlay-based tournament including successive games

Patent Citations (4)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6612927B1 (en) * 2000-11-10 2003-09-02 Case Venture Management, Llc Multi-stage multi-bet game, gaming device and method
US6793575B2 (en) * 2000-11-10 2004-09-21 Case Venture Management, Llc Racing game
US20080113765A1 (en) * 2006-11-10 2008-05-15 Igt Gaming system and method providing venue wide simultaneous player participation based bonus game
US20090005175A1 (en) * 2007-06-29 2009-01-01 World Sports Challenge Ltd. Parlay-based tournament including successive games

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