SYSTEM AND METHOD FOR HIGH-SPEED PARI-MUTUEL WAGERING
This disclosure provides a wagering system associated with a first wagering facility, the system communicably coupled with a network and including a memory operable to store betting odds on a plurality of wagering events hosted by the first wagering facility. The system further includes a processor coupled to the memory and operable to receive a first bet on a particular event via the network, the particular event comprising at least one of the wagering events hosted by the first wagering facility. If a second bet is received within a predetermined period of time after the first bet is received, then the processor recalculates the betting odds on the particular event based upon both of the first bet and the second bet. If a second bet is not received within a predetermined period of time after the first bet is received, then the processor recalculates the betting odds on the particular event based upon the first bet.
1 . An apparatus comprising at least one processing device having software associated therewith that when executed by the processing device makes the processing device operable to:
receive a first bet on a wagering event;
after receiving the first bet, receive a second bet on the wagering event;
determine that the second bet is received during a predetermined period of time after the first bet is received;
based at least in part on determining that the second bet is received during the predetermined period of time, recalculate betting odds for the wagering event based at least in part on the first bet and the second bet; and
cause the recalculated betting odds to be conveyed to at least one bettor.
2 . The apparatus of claim 1 , in which the software, that when executed, makes the processing device further operable to:
determine that the second bet is received after the predetermined period of time; and
based at least in part on determining that the second bet is received after the predetermined period of time, recalculate the betting odds based at least in part on the first bet but not based on the second bet.
3 . The apparatus of claim 2 , in which the predetermined period of time begins upon receiving the first bet.
4 . The apparatus of claim 2 ,
in which the apparatus is associated with a first wagering facility; and
in which at least one of the first bet and the second bet is received from a computing device associated with a second wagering facility.
5 . The apparatus of claim 4 , in which the second wagering facility comprises a plurality of betting terminals operably connected to the computing device and that allow a plurality of bettors to bet at least on the wagering event.
6 . The apparatus of claim 4 , in which to cause the recalculated betting odds to be conveyed to the at least one bettor comprises to transmit the recalculated betting odds to at least the computing device associated with the second wagering facility.
7 . The apparatus of claim 4 ,
in which the first wagering facility comprises a facility that hosts the wagering event;
in which the second wagering facility comprises a facility that allows a plurality of bettors to submit bets at least on the wagering event; and
in which the computing device communicates the submitted bets on the wagering event to the processing device.
8 . The apparatus of claim 7 ,
in which the first wagering facility comprises a first track; and
in which the second wagering facility comprises at least one of:
a second track, and
a betting parlor.
9 . An apparatus comprising at least one processing device having software associated therewith that when executed by the processing device makes the processing device operable to:
receive at least one bet on a wagering event;
after receiving the at least one bet, determine that no subsequent bets on the wagering event will be accepted;
after determining that no subsequent bets on the wagering event will be accepted, receive from a computing device another bet on the wagering event;
based at least in part on determining that no subsequent bets on the wagering event will be accepted, deny the another bet; and
based at least in part on denying the another bet, transmit to the computing device an indication that the another bet has been denied.
10 . The apparatus of claim 9 , in which the indication that the another bet has been denied causes the computing device to convey to a bettor that placed the another bet that the another bet has been denied.
11 . The apparatus of claim 9 ,
in which the apparatus is associated with a first wagering facility; and
in which the computing device is associated with a second wagering facility.
12 . The apparatus of claim 11 ,
in which the first wagering facility comprises a facility that hosts the wagering event;
in which the second wagering facility comprises a facility that allows a plurality of bettors to submit bets at least on the wagering event; and
in which the computing device communicates the submitted bets on the wagering event to the processing device.
13 . The apparatus of claim 12 ,
in which the first wagering facility comprises a first track; and
in which the second wagering facility comprises at least one of:
a second track, and
a betting parlor.
14 . The apparatus of claim 12 , in which the indication that the another bet has been denied causes the computing device to not accept from the plurality of bettors further bets submitted on the wagering event.
15 . An apparatus comprising at least one processing device having software associated therewith that when executed by the processing device makes the processing device operable to:
receive at least one bet on a wagering event;
after receiving the at least one bet, determine that no subsequent bets on the wagering event will be accepted; and
transmit to a computing device an indication that no subsequent bets on the wagering event will be accepted;
in which the apparatus is associated with a first wagering facility that hosts the wagering event;
in which the computing device is associated with a second wagering facility that allows a plurality of bettors to submit bets at least on the wagering event;
in which the computing device communicates the submitted bets on the wagering event to the processing device; and
in which the indication that no subsequent bets on the wagering event will be accepted causes the computing device to not accept from the plurality of bettors further bets submitted on the wagering event.
16 . The apparatus of claim 15 ,
in which the first wagering facility comprises a first track; and
in which the second wagering facility comprises at least one of:
a second track, and
a betting parlor.
17 . An apparatus comprising at least one processing device having software associated therewith that when executed by the processing device makes the processing device operable to:
receive at least one bet on a wagering event;
after receiving the at least one bet, determine that no subsequent bets on the wagering event will be accepted;
after determining that no subsequent bets on the wagering event will be accepted, receive from a computing device another bet on the wagering event;
determine that the computing device transmitted the another bet prior to the processing device determining that no subsequent bets on the wagering event will be accepted; and
based at least in part on determining that the computing device transmitted the another bet prior to the processing device determining that no subsequent bets on the wagering event will be accepted, accept the another bet.
18 . The apparatus of claim 17 , in which the software, that when executed, makes the processing device further operable to:
determine that the computing device transmitted the another bet after the processing device determined that no subsequent bets on the wagering event will be accepted; and
based at least in part on determining that the computing device transmitted the another bet after the processing device determined that no subsequent bets on the wagering event will be accepted, deny the another bet.
19 . The apparatus of claim 18 , in which the software, that when executed, makes the processing device further operable to:
based at least in part on denying the another bet, transmit to the computing device an indication that the another bet has been denied.
20 . The apparatus of claim 19 , in which the indication that the another bet has been denied causes the computing device to convey to a bettor that placed the another bet that the another bet has been denied.
21 . The apparatus of claim 19 ,
in which the first wagering facility comprises a facility that hosts the wagering event;
in which the second wagering facility comprises a facility that allows a plurality of bettors to submit bets at least on the wagering event;
in which the computing device communicates the submitted bets on the wagering event to the processing device; and
in which the indication that the another bet has been denied causes the computing device to not accept from the plurality of bettors further bets submitted on the wagering event.
22 . The apparatus of claim 18 , in which the software, that when executed, makes the processing device further operable to transmit to the computing device an indication that no subsequent bets on the wagering event will be accepted.
23 . The apparatus of claim 22 ,
in which the first wagering facility comprises a facility that hosts the wagering event;
in which the second wagering facility comprises a facility that allows a plurality of bettors to submit bets at least on the wagering event;
in which the computing device communicates the submitted bets on the wagering event to the processing device; and
in which the indication that no subsequent bets on the wagering event will be accepted causes the computing device to not accept from the plurality of bettors further bets submitted on the wagering event.
24 . The apparatus of claim 18 ,
in which the apparatus is associated with a first wagering facility; and
in which the computing device is associated with a second wagering facility.
25 . The apparatus of claim 24 , in which the second wagering facility comprises a plurality of betting terminals operably connected to the computing device and that allow a plurality of bettors to bet at least on the wagering event.
26 . The apparatus of claim 24 ,
in which the first wagering facility comprises a facility that hosts the wagering event;
in which the second wagering facility comprises a facility that allows a plurality of bettors to submit bets at least on the wagering event; and
in which the computing device communicates the submitted bets on the wagering event to the processing device.
27 . The apparatus of claim 26 ,
in which the first wagering facility comprises a first track; and
in which the second wagering facility comprises at least one of:
a second track, and
a betting parlor.