SYSTEM AND METHOD FOR ODDS-BASED SPORTS WAGERING
The present invention can provide a system and method for sports wagering and entertainment. In one exemplary embodiment, the present invention can include a method for odds-based sports wagering, the method comprising: receiving, from a bettor, a selection of at least one players; providing, to the bettor, odds associated with the selection of at least one players; receiving, from the bettor, an at least one bet type and an at least one bet amount based on the odds associated with the selection of at least one players; and returning, to the bettor, a result for the at least one bet type and the at least one bet amount.
The present invention relates generally to systems and methods for sports wagering and entertainment.
BACKGROUND OF THE INVENTIONIn fantasy sports, fantasy owners generally build and manage a team that competes over an entire season against teams built by other fantasy owners. Fantasy owners typically build or draft a roster of players at the beginning of each season from which they will select a lineup for each game of the season. In current systems and methods, fantasy owners earn points based on the game-by-game statistical performances of their selected players and those point totals are directly compared to the point totals of other fantasy owners. In such systems, fantasy owners need to both pick a quality roster and manage that roster well during the season.
In other fantasy sports systems, fantasy owners are given a certain point or salary allotment which they use on a game-by-game or week-by-week basis to select players. Once again, the fantasy owners compete with other fantasy owners to see who can accumulate the highest number of points.
With these systems, fantasy owners are limited to competing only against other fantasy owners who wish to participate for the same time duration. Since there is no way to standardize the results, fantasy owners cannot easily join the competition late, compete intermittently, or leave early and still be able to reasonably participate.
Moreover, current fantasy sports bettors are generally limited to competing against an undefined opponent. Rather than measuring success by how well their selected team performed, fantasy sports bettors are always betting against how other fantasy sports bettors performed. To this extent, the opponent is undefined until after all fantasy sport bettor have selected a lineup. This limits fantasy sports bettors to a restricted number of wagering options and strategies. Since there is no standardized measure of success, fantasy sports bettors are limited to trying to select the players who will achieve the greatest number of points.
Accordingly, there is a need for a system and method for allowing fantasy sports bettors greater bet variety and greater participation flexibility.
SUMMARY OF THE INVENTIONExemplary embodiments of the present invention that are shown in the drawings are summarized below. These and other embodiments are more fully described in the Detailed Description section. It is to be understood, however, that there is no intention to limit the invention to the forms described in this Summary of the Invention or in the Detailed Description. One skilled in the art can recognize that there are numerous modifications, equivalents and alternative constructions that fall within the spirit and scope of the invention as expressed in the claims.
The present invention can provide a system and method for sports wagering and entertainment. In one exemplary embodiment, the present invention can include a method for odds-based sports wagering, the method comprising: receiving, from a bettor, a selection of at least one players; providing, to the bettor, odds associated with the selection of at least one players; receiving, from the bettor, an at least one bet type and an at least one bet amount based on the odds associated with the selection of at least one players; and returning, to the bettor, a result for the at least one bet type and the at least one bet amount.
Various objects and advantages and a more complete understanding of the present invention are apparent and more readily appreciated by reference to the following Detailed Description and to the appended claims when taken in conjunction with the accompanying Drawings wherein:
Referring now to the drawings, where like or similar elements are generally designated with identical reference numerals throughout the several views, and referring in particular to
Referring now to
Referring first to the bettor interface module, it is an input-output controller and serves as the interface for the bettor or the bettor's computing devices to interact with the other modules. Similarly, the bettor interface directs the communications from the other modules to the bettor. For example, the bettor interface could be used to present lineup odds from the lineup odds generator module to the bettor.
The second software module shown in
The bettor score determination module from
The final module shown in
Although one embodiment disclosed herein uses interactive electronic devices in order to present information to and acquire information from a bettor,
After the bettor has filled out the betting slip to indicate his or her selected players, the information from the betting slip would need to be collected (not shown). In one embodiment, the information from the betting slip could be read and entered manually. In another embodiment the betting slips may be electronically scanned in order to collect the bettor's selected lineup. Those skilled in the art can understand various ways the information from the betting slips would be collected consistent with the present invention.
Referring now to
In
For example, as displayed in
Returning to
The present invention is not limited to having to select multiple player lineups, nor is it limited to selecting lineups composed of multiple different player types. In another embodiment of the present invention, a bettor could select a single player for the lineup. For example, a player could select the quarterback from the Indianapolis Colts if he thinks that particular player is going to do well but doesn't want to bet on which running backs, defenses, etc., are going to do well. In other sports, such as baseball, a bettor might just select a pitcher or a batter. In a different embodiment of the present invention, a player could be allowed to select multiple players from a limited subset of player types. For example, a bettor might select multiple quarterbacks but not select players from any other positions. A bettor could also select only quarterbacks and running backs. For other sports, for example basketball, a bettor might select all guards and defenses. Those skilled in the art will realize the numerous variations consistent with the present invention.
Now referring to
Once the player information has been collected, an available players list for all events can be populated. The bet, wager and data collection module could be used to evaluate the data and populate an available players list for all events. In the exemplary embodiment, for fantasy football this would include checking which teams (defensive teams are included as players) are playing, what players are hurt, etc. In other fantasy sports there will be other considerations. For example, in baseball, the pitching rotation would be relevant to evaluate in order to determine what pitchers are available for a given event.
Once the available players list has been populated the next step in
Next, in
While the exemplary embodiment splits the first three steps of
Back to
Various types or forms of lineup odds could be presented to the bettor. In the exemplary embodiment as shown in
Other variations on lineup odds could be used consistent with the present invention. In one exemplary embodiment, a bettor could be presented with varying odds for the selected lineup beating a variation of point totals. For example, a bettor could be told that the selected lineups odds are −250 on beating 50 total points, −120 on beating 60 total points, −320 on beating 40 total points, and −500 on beating 30 total points. In this way, a bettor could be presented with various odds for the same lineup. The bettor could then select a specific point total to bet against. In a different embodiment the bettor could be presented with various payouts for a bet on a given lineup. In this example, the bettor would bet on the lineup generally and be given odds for various point totals. A bettor would not bet against a specific point total, but would bet on the lineup. For example, a lineup could be given −200 on getting over 60 total points, −300 on getting 50-59 total points, −450 on getting 40-49 total points, −600 on getting 30-39 total points, and no odds (a loss) for getting less that 30 total points. The bettor could then bet on the lineup without selecting a specific point total to beat. These are exemplary embodiments only, and those skilled in the art will realize many other variations consistent with the present invention.
In another embodiment, the lineup odds could represent a projected lineup point total which the bettor could then use to bet against another bettor using a handicap system. In a competitive setting with another bettor, the bettor with the higher projected point total could give the other bettor the difference in points as a handicap in a head-to-head bet. Alternatively, a projected lineup point total could also be used for an over-under bet. For example, for fantasy football a selected lineup may be projected to collect 43 points. The bettor could make a wager that the lineup will collect more, an over bet, or less, an under bet, points than the projected lineup point total of 43 points. Many other forms of lineup odds, which allow other forms of bets and wagers, will be realized by those who are skilled in the art.
Returning to the final step in
Now referring to
Player event data includes player statistics and results. In the exemplary embodiment for fantasy football, this would including collecting, at least, all relevant statistics such as touchdowns, touchdown passes, turnovers, field goals, etc. In another embodiment such as fantasy baseball, statistics such as homeruns, strikeouts, saves, RBIs, etc. would be collected. Those skilled in the art will be aware of the player event data that would need to be collected for various fantasy sports.
Once the player event data for each event has been collected, the next step in
Referring back to
The final step in
Referring now to
Once the player type and scoring algorithm are identified, the system should assign points to each player based on the scoring algorithm and player event results. For example, in the exemplary embodiment if Champ Bailey has an interception for a touchdown, the scoring algorithm would appoint eight points to defensive player Denver Broncos, two for the interception and six for the touchdown. In the exemplary embodiment, this process could take place in the bettor score determination module which will transfer all player point totals to the bet, wager and player data collection module for storage.
Referring now to
Once the bettor's lineup point total is calculated, the lineup point total is compared with the bettor's bet. In the exemplary embodiment this could be done in the bettor payout evaluator module. If the bettor wagered 250 that the selected lineup would beat the predetermined or selected value of 50 total points, as discussed in exemplary embodiments herein, the lineup total would be compared to see if it was above 50 total points. If the bet was above 50 total points a win would be determined. If not, the bettor's bet would result as a loss. Various rules for ties could be imagined. Other point totals, whether predetermined or selected by the bettor, could receive similar treatment.
After the bettor's bet has been ruled a win or a loss, the final step in
In another embodiment of the present invention, the bettor could have wagered on the selected lineup but not against a specific point total. The lineup point total could then be compared to a range of selected payouts for that lineup. For example, a bettor could have wagered 200 on the selected lineup. For point totals of 0-29 the lineup could pay 0 or perhaps some portion of the original bet could be returned; for a point total of 25-29 for example, half the bet amount might be returned. For point totals of 30-39 the bettor could have been given −600 odds and would receive a payout of 33.33 gain, for point totals of 40-49 the bettor could have been given −450 odds and would receive a payout of 44.44 gain, etc.
In conclusion, the present invention provides, among other things, a system and method for odds-based fantasy sports wagering. Those skilled in the art can readily recognize that numerous variations and substitutions may be made in the invention, its use and its configuration to achieve substantially the same results as achieved by the embodiments described herein. Accordingly, there is no intention to limit the invention to the disclosed exemplary forms. Many variations, modifications and alternative constructions fall within the scope and spirit of the disclosed invention as expressed in the claims.
Claims
1. A method for odds-based sports wagering, the method comprising:
- receiving, from a bettor, a selection of at least one players;
- providing, to the bettor, odds associated with the selection of at least one players;
- receiving, from the bettor, an at least one bet type and an at least one bet amount based on the odds associated with the selection of at least one players; and
- returning, to the bettor, a result for the at least one bet type and the at least one bet amount.
2. The method of claim 1, further comprising:
- providing, to the bettor, a list of available players.
3. The method of claim 2, further comprising:
- providing, to the bettor, odds associated with the list of available players.
4. The method of claim 1, further comprising:
- providing, to the bettor, a list of events;
- receiving, from the bettor, an event selection;
- providing, to the bettor, a list of available players associated with the event selection.
5. The method of claim 4, further comprising:
- providing, to the bettor, odds associated with the list of available players.
6. The method of claim 1, wherein the odds comprise a projected point total for the selection of at least one players.
7. The method of claim 1, wherein the odds comprise odds that the selection of at least one players will receive a certain number of points.
8. The method of claim 1, wherein the at least one bet amount is a monetary bet amount.
9. The method of claim 1, wherein the at least one bet type comprises a bet that the selection of at least one players will receive a certain number of points.
10. The method of claim 1, wherein the result is a monetary payout.
11. The method of claim 1, further comprising:
- calculating odds for the selection of at least one players based on odds associated with each player from the selection of at least one players.
12. The method of claim 11, wherein calculating odds comprises averaging the odds associated with each player from the selection of at least one players.
13. The method of claim 1, further comprising:
- determining a result for the at least one bet type and the at least one bet amount.
14. The method of claim 13, wherein determining a result comprises comparing a point total for the selection of at least one players with a number of points and, if the point total for the selection of at least one players is higher, calculating a payout amount based on the at least one bet amount and the odds associated with the selection of at least one players, or, if the point total for the selection of at least one players is lower, determining the result is a loss.
Type: Application
Filed: Apr 11, 2007
Publication Date: Oct 16, 2008
Inventors: Nicholas Koustas (Englewood, CO), John Mix (Denver, CO), Alexander Oxman (Denver, CO)
Application Number: 11/734,056