System and method for pari-mutuel gaming
An improved gaming system comprising at least one gaming machine and a central controller. The gaming machine may conduct wagering on an event or set of events for a player, conducting a wager including receiving a wager value and a predicted ranking from the player and transmitting the wager to the central controller. The central controller accessing a database to automatically retrieve data about one or more events that occurred in the past and included multiple participants for creating a plurality of binary scorecards. The central controller matching the predicted ranking to a scorecard and determining a reward value based on an award level of the scorecard and tier levels of a pari-mutuel pool.
1. A gaming system comprising:
a central controller comprising a processor and a memory;
a gaming machine configured to accept a wager from a user using an input device, the wager including a predicted ranking and a wager value, and to communicate the wager to the central controller; and
the central controller configured to:
transmit the wager value to a single pari-mutuel pool and separate the single pari-mutuel pool into a plurality of tier levels;
retrieve event data about one or more selected events from an event database, wherein the event data includes data about one or more variables or one or more participants participating in at least one event of the one or more selected events;
transform a final outcome of the one or more variables or a final ranking of the one or more participants in the one or more events into binary scorecards corresponding to one of a plurality of award levels, the binary scorecards including possible negative predictions and positive predictions of the final ranking in binary form;
compare the predicted ranking to said binary scorecards to determine an award level for the user from the plurality of award levels; and
determine a reward value based on the award level for the user and the plurality of tier levels of the single pari-mutuel pool.
2. The gaming system as set forth in claim 1 , wherein each tier level of the plurality of tier levels has a different size.
3. The gaming system as set forth in claim 1 , wherein each award level includes a plurality of award rates corresponding to each of the plurality of tier levels, such that the determination of the reward value includes a value from each of the plurality of tier levels determined by the plurality of award rates for the award level for the user.
4. The gaming system as set forth in claim 3 , wherein the plurality of award rates vary for each award level.
5. The gaming system as set forth in claim 3 , wherein the plurality of award rates of each award level vary for each of the plurality of tier levels.
6. The gaming system as set forth in claim 1 , wherein the central controller is configured to separate the single pari-mutuel pool into at least five tier levels.
7. The gaming system as set forth in claim 1 , wherein the plurality of tier levels are filled progressively from a first tier level to a last tier level.
8. The gaming system as set forth in claim 1 , the gaming system further comprising a plurality of gaming machines.
9. The gaming system as set forth in claim 1 , wherein the plurality of tier levels have a size decreasing progressively from a first tier level to a last tier level.
10. The gaming system as set forth in claim 1 , wherein the plurality of tier levels have a size increasing progressively from a first tier level to a last tier level.
11. A method for conducting a game comprising:
accepting a wager from a user using an input device, the wager including a predicted ranking and a wager value;
communicating the wager to a central controller having a processor and a memory;
combining the wager value with a single pari-mutuel pool and separating the single pari-mutuel pool into a plurality of tier levels using the central controller;
retrieving event data about one or more selected events from an event database using the central controller, wherein the event data includes data about one or more variables or one or more participants participating in at least one event of the one or more selected events;
transforming a final outcome of the one or more variables or a final ranking of the one or more participants in the one or more selected events into binary scorecards corresponding to one of a plurality of award levels, the binary scorecards including possible negative predictions and possible positive predictions of the final ranking in a binary form;
comparing the predicted ranking to said binary scorecards in the central controller to determine an award level for the user from the plurality of award levels; and
the central controller determining a reward value based on the award level for the user and the plurality of tier levels of the single pari-mutuel pool.
12. The method as set forth in claim 11 , the method further comprising the steps of:
creating an entertaining display corresponding to the reward value determined by the central controller;
transmitting the entertaining display to the user; and
providing a payout to the user, the payout including the reward value.
13. The method as set forth in claim 11 , wherein the final ranking comprises a first, second and third place ranking.
14. The method as set forth in claim 11 , wherein each tier level of the plurality of tier levels has a different size.
15. The method as set forth in claim 11 , wherein each award level includes a plurality of award rates corresponding to each of the plurality of tier levels, such that the determination of the reward value includes a value from each of the plurality of tier levels determined by the plurality of award rates for the award level for the user.
16. The method as set forth in claim 15 , wherein the plurality of award rates vary for each award level.
17. The method as set forth in claim 15 , wherein the plurality of award rates of each award level vary for each of the plurality of tier levels.
18. The method as set forth in claim 11 , wherein the central controller is configured to separate the single pari-mutuel pool into at least five tier levels.
19. The method as set forth in claim 11 , wherein the plurality of tier levels are filled progressively from a first tier level to a last tier level.
20. The method as set forth in claim 11 , wherein the plurality of tier levels have a size decreasing progressively from a first tier level to a last tier level.
21. The gaming system as set forth in claim 1 , wherein the one or more selected events include one or more bingo games and the one or more variables are bingo-based variables.
22. The gaming system as set forth in claim 1 , wherein the one or more events includes one or more racing events; wherein the one or more events include one or more live events; wherein the one or more events include one or more live games; wherein the one or more events include one or more live racing events; wherein the one or more events include one or more historical events; the one or more events include one or more historical games; the one or more events include one or more races; the one or more events include one or more historical horse races; and/or the one or more events include one or more historical races.
23. The method as set forth in claim 11 , wherein the one or more selected events include one or more bingo games and the one or more variables are bingo-based variables.
24. The method as set forth in claim 11 , wherein the one or more events includes one or more racing events; wherein the one or more events include one or more live events; wherein the one or more events include one or more live games; wherein the one or more events include one or more live racing events; wherein the one or more events include one or more historical events; the one or more events include one or more historical games; the one or more events include one or more races; the one or more events include one or more historical horse races; and/or the one or more events include one or more historical races.