WO2004053628A2 - A wagering method and system - Google Patents

A wagering method and system Download PDF

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Publication number
WO2004053628A2
WO2004053628A2 PCT/NZ2003/000271 NZ0300271W WO2004053628A2 WO 2004053628 A2 WO2004053628 A2 WO 2004053628A2 NZ 0300271 W NZ0300271 W NZ 0300271W WO 2004053628 A2 WO2004053628 A2 WO 2004053628A2
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WO
WIPO (PCT)
Prior art keywords
wager
value
combinations
values
combination
Prior art date
Application number
PCT/NZ2003/000271
Other languages
French (fr)
Other versions
WO2004053628A3 (en
Inventor
Allen James Mcarthur
Original Assignee
New Zealand Racing Board
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by New Zealand Racing Board filed Critical New Zealand Racing Board
Priority to AU2003288819A priority Critical patent/AU2003288819B2/en
Publication of WO2004053628A2 publication Critical patent/WO2004053628A2/en
Publication of WO2004053628A3 publication Critical patent/WO2004053628A3/en

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q50/00—Systems or methods specially adapted for specific business sectors, e.g. utilities or tourism
    • G06Q50/34—Betting or bookmaking, e.g. Internet betting
    • 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 method of calculating the value of combinations of a multi combination wager and a system for implementing the method.
  • the method enables integer value wagers to be assigned to each combination for any total wager value.
  • Wagers are normally placed as integer values covering one or multiple combinations. For example, in horse racing a boxed trifecta allows the customer to cover a number of possible winning combinations in a single wager. This poses no problem where integer value wagers are applied to each combination and the customer is happy to pay the total wager value (i.e. 20 combinations at 50 cents each making a total wager of 10 dollars). However, where the customer wishes to place a wager for a specific amount covering a number of combinations the value of each wager for each combination may be a fraction (i.e. including a component less than one cent).
  • a desired wager value (e.g. $16) is divided by the total wager value (e.g. $49) for the desired combinations.
  • the result (32.6%) is rounded down (32%).
  • the customer is paid 32 % of the amount payable for a $49 bet. This value is then rounded down to the nearest ten cents.
  • This method fails to capture the entire amount a customer is willing to wager (i.e. $15.70 compared to $16) and the rounding is disadvantageous to the customer.
  • a method of calculating the value of combinations of a wager including a plurality of combinations by allocating different wager values to a plurality of different groups of combinations in such a manner that the total value of a wager equals a desired total wager value.
  • a method of determining the value of each combination for a total wager comprising a plurality of combinations, including the steps of: i. determining an average combination value by dividing the total wager value by the number of combinations; ii. allocating first and second wager values as integer values bounding the average value; and iii. allocating wager values to combinations such that the total value of combinations equals the total wager value.
  • a computerised wagering system comprising: i. an input device facilitating the input of wagering information; ii. processing means which calculates the value of combinations for a wager comprising a plurality of combinations by allocating different wager values to a plurality of different groups of combinations in such a manner that the total value of a wager equals a desired total wager value; and iii. an output device for outputting wager information.
  • Figure 1 shows a block diagram of a computerised wagering system.
  • a wager may cover a number of combinations, such as in a boxed trifecta wager. Where a customer wishes to place a wager of a desired value covering a number of combinations the value of the wager for each combination must be determined.
  • the combinations are allocated to groups having different wager values.
  • the number of combinations in each group and the wager values are determined so as to equal a desired total wager value. Any desired number of groups of combinations may be employed having associated different wager values.
  • the wager values are preferably integer values (i.e. one cent steps or any other applicable unit).
  • a three dollar wager covering eleven combinations could include four combinations having wager values of 25 cents, five combinations having wager values of 20 cents and two combinations having wager values of 50 cents.
  • the combination of wager values may be any of a range of values for which solution is possible, although adjacent wager values are preferred to facilitate rapid solution in every case.
  • the wager values for the groups of combinations are preferably the integer values directly adjacent the average combination wager value (e.g. 20 and 21 cents).
  • the value of each combination may be determined using one of the following techniques:
  • Nl the first combination wager value (i.e. .20)
  • V2 the second combination wager value (i.e. .21)
  • x the number of combinations for the first value
  • y the number of combinations for the second value
  • n the total number of combinations
  • Nt the desired total wager value
  • the first two steps of the above method may be followed.
  • This gives the number of combinations which must have the value of the higher bound i.e. 20 for a one cent differential and 4 for a 5 cent differential).
  • An average combination wager value may be calculated as per step one in the simultaneous equation method.
  • the bounding combination wager values may be determined as per step two in the simultaneous equation method.
  • Vl the first combination wager value (i.e. .20)
  • V2 the second combination wager value (i.e. .21)
  • Vt the desired total wager value
  • Vl(n - 2y - 1) + N2y +N3(y+1) Vt
  • x, y and z could be determined using an iterative method on a computer.
  • wager values have been selected as adjacent integer values it will be appreciated that these need not be adjacent integer values where solution is possible with such values.
  • the method of the invention may be implemented in a computerised wagering system as shown in Figure 1.
  • the system includes a central computing facility 1 with a totalisator or other betting system 2.
  • the system also includes one or more input devices 4, 5, 7.
  • the central computing facility 1 communicates via a server 3 with one or more kiosks 4 and/or one or more teller terminals 5.
  • the central computing facility may also communicate via the internet 6 with one or more computers 7.
  • the system may also include an output device for displaying wagering information and a printer for printing a ticket.
  • Wagering information may be input manually or via an automated system.
  • a user may enter wagering information via an input device such as a keypad or the information may be read from a card completed by customer or the wagering information may be sent electronically via a fixed line or wireless connection etc.
  • the wagering information will include the desired combinations and the desired wager value.
  • the system will calculate the wager value for each combination and, should the customer choose a winning combination, the system will calculate the winnings payable on the basis of the wager value for the winning combination.
  • the present invention thus provides a wagering method and system which allows integer value wagers to be allocated to each combination by a relatively simple method.

Abstract

A wagering method and system are provided for wagering a set amount on a number of combinations. The combinations are assigned to a number of groups having different wager values. The number of combinations in each group and the wager value assigned to each group are determined such that the total value of a wager equals a desired total wager value. Any number of groups of combinations may be employed, each group having a different wager value. The wager values may be integer values.

Description

A WAGERING METHOD AND SYSTEM
Field of the invention
The invention relates to method of calculating the value of combinations of a multi combination wager and a system for implementing the method. The method enables integer value wagers to be assigned to each combination for any total wager value.
Background to the invention
Wagers are normally placed as integer values covering one or multiple combinations. For example, in horse racing a boxed trifecta allows the customer to cover a number of possible winning combinations in a single wager. This poses no problem where integer value wagers are applied to each combination and the customer is happy to pay the total wager value (i.e. 20 combinations at 50 cents each making a total wager of 10 dollars). However, where the customer wishes to place a wager for a specific amount covering a number of combinations the value of each wager for each combination may be a fraction (i.e. including a component less than one cent).
According to a first method a desired wager value (e.g. $16) is divided by the total wager value (e.g. $49) for the desired combinations. The result (32.6%) is rounded down (32%). The value of the wager is calculated by multiplying the rounded percentage times the total wager value (32 % multiplied by $49 = $15.68). This value is rounded up to a wager price of $15.70. The customer is paid 32 % of the amount payable for a $49 bet. This value is then rounded down to the nearest ten cents. This method fails to capture the entire amount a customer is willing to wager (i.e. $15.70 compared to $16) and the rounding is disadvantageous to the customer.
According to another method exact percentages are calculated to four decimal places. Whilst this method is accurate it is incompatible with systems requiring integer value wagers (i.e. wagers in one cent intervals). By allowing only integer wagers tight control of fractional values, and thus calculation accuracy, may be achieved.
Summary of the invention
It is an object of the present invention to provide an improved method of calculation and system therefor or to at least provide the public with a useful choice.
According to a first aspect of the invention there is provided a method of calculating the value of combinations of a wager including a plurality of combinations by allocating different wager values to a plurality of different groups of combinations in such a manner that the total value of a wager equals a desired total wager value.
According to a further aspect of the invention there is provided a method of determining the value of each combination for a total wager comprising a plurality of combinations, including the steps of: i. determining an average combination value by dividing the total wager value by the number of combinations; ii. allocating first and second wager values as integer values bounding the average value; and iii. allocating wager values to combinations such that the total value of combinations equals the total wager value.
According to a further aspect of the invention there is provided a computerised wagering system comprising: i. an input device facilitating the input of wagering information; ii. processing means which calculates the value of combinations for a wager comprising a plurality of combinations by allocating different wager values to a plurality of different groups of combinations in such a manner that the total value of a wager equals a desired total wager value; and iii. an output device for outputting wager information.
Detailed description
The invention will now be described by way of example with reference to possible embodiments of the invention with reference to the accompanying drawing in which :
Figure 1 : shows a block diagram of a computerised wagering system.
A wager may cover a number of combinations, such as in a boxed trifecta wager. Where a customer wishes to place a wager of a desired value covering a number of combinations the value of the wager for each combination must be determined.
According to the method of the invention the combinations are allocated to groups having different wager values. The number of combinations in each group and the wager values are determined so as to equal a desired total wager value. Any desired number of groups of combinations may be employed having associated different wager values. The wager values are preferably integer values (i.e. one cent steps or any other applicable unit).
Thus a three dollar wager covering eleven combinations could include four combinations having wager values of 25 cents, five combinations having wager values of 20 cents and two combinations having wager values of 50 cents.
One approach facilitating rapid solution is to allocate combinations to two groups having wager values bounding an average combination wager value. The combination of wager values may be any of a range of values for which solution is possible, although adjacent wager values are preferred to facilitate rapid solution in every case. The wager values for the groups of combinations are preferably the integer values directly adjacent the average combination wager value (e.g. 20 and 21 cents). The value of each combination may be determined using one of the following techniques:
Simultaneous equation method
For a wager including 49 combinations where the desired total wager value is $10 the following calculation steps may be used:
1. determine the average wager value for each combination (desired total wager value/number of combinations e.g. 10/49 = .204)
2. select combination wager values as the integer values adjacent the average combination wager value (E.g. .20 and .21).
3. calculate the number of combinations for each combination wager value where:
Nl= the first combination wager value (i.e. .20) V2 = the second combination wager value (i.e. .21) x = the number of combinations for the first value y = the number of combinations for the second value n = the total number of combinations
Nt = the desired total wager value
x + y = n, thus y = n - x
Nlx + N2y = Vt
Nlx + N2 (n-x) = Nt Vlx + V2n - N2x = Nt x(Vl-N2) = Nt- N2n x(V2-Nl) = N2n - Nt
thus x = (N2n - Nt)/(N2-Nl) and y = n-x
e.g. x = (.21*49 - 10)/(.21-.20) = 29 and y = n - x = 49 - 29 = 20
Where the difference between Nl and N2 is one cent and all values are expressed in cents a formula may be reduced to x = N2n - Nt.
Remainder method
According to this method the first two steps of the above method may be followed. Next the total value that would apply if only the lower bound was used is subtracted from the desired total wager value to give a remainder (e.g. 10 - (.20*49) = .20). This remainder is divided by the difference between the higher bound and the lower bound (e.g. .20 / (.21 - .20) = 20 or .20/(.25-.20) = 4). This gives the number of combinations which must have the value of the higher bound (i.e. 20 for a one cent differential and 4 for a 5 cent differential).
Iteration method
An average combination wager value may be calculated as per step one in the simultaneous equation method. The bounding combination wager values may be determined as per step two in the simultaneous equation method. Using the equation Vlx + V2y = Nt the values Nl, N2 and Nt may be substituted and the x and y values determined by iteration (i.e. increment or decrement x and y values respectively until there is convergence).
More than two groups of combinations
Where more than two groups of combinations are used, the number of combinations in each group may be calculated by the following steps (taking the example of three groups of combinations): 1. determine the average wager value for each combination (desired total wager value/number of combinations e.g. 10/49 = .204)
2. select two combination wager values as the integer values adjacent the average combination wager value (e.g. .20 and .21).
3. select a third combination wager value as the integer value adjacent one of the first two wager values (e.g. .22).
4. calculate the number of combinations for each combination wager value where: Vl= the first combination wager value (i.e. .20)
V2 = the second combination wager value (i.e. .21)
V3 = the third combination wager value (i.e. .22) x = the number of combinations for the first value y = the number of combinations for the second value z = the number of combinations for the third value n = the total number of combinations
Vt = the desired total wager value
Fix one of the number of combinations (e.g. set z = 5) or fix one of the number of combinations with respect to another of the number of combinations (e.g. set z = y+1).
Then
x + y + z = n, thus x + 2y + 1 = n x = n - 2y - 1
Vlx + V2y + V3z = Nt
Vl(n - 2y - 1) + N2y +N3(y+1) = Vt
thus y = (Nt - Nl(n - l) - N3) / (-2Vl + N2 + V3) and z = y + l and x = n - 2y - 1
e-g. y = (10 - .20*48 - .22) / (-2*.20 + .21 + .22)
= .18 / .03 y = 6 thus z = 7 and x = 36
Alternatively, x, y and z could be determined using an iterative method on a computer.
Although in this example the wager values have been selected as adjacent integer values it will be appreciated that these need not be adjacent integer values where solution is possible with such values.
System
The method of the invention may be implemented in a computerised wagering system as shown in Figure 1. The system includes a central computing facility 1 with a totalisator or other betting system 2. The system also includes one or more input devices 4, 5, 7. The central computing facility 1 communicates via a server 3 with one or more kiosks 4 and/or one or more teller terminals 5. The central computing facility may also communicate via the internet 6 with one or more computers 7. The system may also include an output device for displaying wagering information and a printer for printing a ticket.
Wagering information may be input manually or via an automated system. A user may enter wagering information via an input device such as a keypad or the information may be read from a card completed by customer or the wagering information may be sent electronically via a fixed line or wireless connection etc. The wagering information will include the desired combinations and the desired wager value. The system will calculate the wager value for each combination and, should the customer choose a winning combination, the system will calculate the winnings payable on the basis of the wager value for the winning combination.
The present invention thus provides a wagering method and system which allows integer value wagers to be allocated to each combination by a relatively simple method.
While the present invention has been illustrated by the description of the embodiments thereof, and while the embodiments have been described in detail, it is not the intention of the Applicant to restrict or in any way limit the scope of the appended claims to such detail. Additional advantages and modifications will readily appear to those skilled in the art.
Therefore, the invention in its broader aspects is not limited to the specific details, representative apparatus and method, and illustrative examples shown and described. Accordingly, departures may be made from such details without departure from the spirit or scope of the Applicant's general inventive concept.

Claims

Claims
1. A method of calculating the value of combinations of a wager including a plurality of combinations by allocating different wager values to a plurality of different groups of combinations in such a manner that the total value of a wager equals a desired total wager value.
2. A method as claimed in claim 1 wherein the combinations are allocated into two groups of combinations having respective first and second combination wager values.
3. A method as claimed in claim 2 wherein the combination wager values are integer values.
4. A method as claimed in claim 3 wherein the combination wager values bound the average combination wager value (being the total wager value divided by the number of combinations).
5. A method as claimed in claim 4 wherein the combination wager values are adjacent integer values
6. A method as claimed in any one of the preceding claims wherein the number of combinations for each combination value is determined by solving a simultaneous equation.
7. A method as claimed in any one claims 1 to 5 wherein the number of combinations for each combination value is determined by iteration.
8. A method as claimed in any one claims 1 to 5 wherein the number of combinations for each combination value is determined by a remainder method.
9. A method as claimed in claim 8 wherein the remainder is determined by subtracting the product of the number of combinations times the lowest combination wager value from the desired total wager value.
10. A method of determining the value of each combination for a total wager comprising a plurality of combinations, including the steps of: i. determining an average combination value by dividing the total wager value by the number of combinations; ii. allocating first and second wager values as the integer values bounding the average value; and iii. allocating wager values to combinations such that the total value of combinations equals the total wager value.
11. A method as claimed in claim 10 wherein the first and second wager values are adjacent integer values.
12. A method as claimed in claim 10 or 11 wherein the allocation in step iii is performed by solving simultaneous equations.
13. A method as claimed in claim 10 or 11 wherein the allocation in step iii is performed by an iterative process.
14. A method as claimed in claim 10 or 11 wherein the allocation in step iii is performed by a remainder method.
15. A method as claimed in any one of the preceding claims when implemented by a computer system.
16. A computerised wagering system operating according to method of any one of the preceding claims.
17. Software for effecting the method of any one of claims 1 to 15.
18. A computerised wagering system comprising: i. an input device facilitating the input of wagering information; ii. processing means which calculates the value of combinations for a wager comprising a plurality of combinations by allocating different wager values to a plurality of different groups of combinations in such a manner that the total value of a wager equals a desired total wager value; and in. an output device for outputting wager information.
PCT/NZ2003/000271 2002-12-12 2003-12-11 A wagering method and system WO2004053628A2 (en)

Priority Applications (1)

Application Number Priority Date Filing Date Title
AU2003288819A AU2003288819B2 (en) 2002-12-12 2003-12-11 A wagering method and system

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
NZ523132 2002-12-12
NZ52313202A NZ523132A (en) 2002-12-12 2002-12-12 A wagering method for calculating the value of a combination of a wager such as a boxed trifecta

Publications (2)

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WO2004053628A2 true WO2004053628A2 (en) 2004-06-24
WO2004053628A3 WO2004053628A3 (en) 2004-07-22

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NZ (1) NZ523132A (en)
WO (1) WO2004053628A2 (en)
ZA (1) ZA200505148B (en)

Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
FR2782181A1 (en) * 1998-08-04 2000-02-11 Maurice Fradin System providing for betting game with combination betting, particularly on horse racing, enters amounts bet on different combinations before events take place, then computes prices for each combination
US6093102A (en) * 1994-09-15 2000-07-25 Aristocrat Leisure Industries Pty Ltd Multiline gaming machine
US6409594B1 (en) * 1999-07-27 2002-06-25 Aztar Corporation System and apparatus for placing and controlling a wager on a gaming device

Patent Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US6093102A (en) * 1994-09-15 2000-07-25 Aristocrat Leisure Industries Pty Ltd Multiline gaming machine
FR2782181A1 (en) * 1998-08-04 2000-02-11 Maurice Fradin System providing for betting game with combination betting, particularly on horse racing, enters amounts bet on different combinations before events take place, then computes prices for each combination
US6409594B1 (en) * 1999-07-27 2002-06-25 Aztar Corporation System and apparatus for placing and controlling a wager on a gaming device

Also Published As

Publication number Publication date
WO2004053628A3 (en) 2004-07-22
AU2003288819A1 (en) 2004-06-30
NZ523132A (en) 2005-06-24
ZA200505148B (en) 2006-03-29
AU2003288819B2 (en) 2009-07-16

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