System and method for wagering on virtual elements overlaying a sports betting field

1. A system comprising:

a processor; and

a memory device that stores a plurality of instructions, which when executed by the processor, cause the processor to:

cause a display device to display a game field associated with a live sporting event,

place a virtual element on a virtual game field overlaid on the displayed game field associated with the live sporting event,

receive a wager associated with the placed virtual element, and

responsive to an event occurring during the live sporting event in an area of the displayed game field corresponding to an area of the virtual game field associated with the placed virtual element:

determine an award, and

cause the display device to display the determined award.

2. The system of claim 1 , wherein different areas of the virtual game field are associated with different average expected payouts.

3. The system of claim 1 , wherein when executed by the processor, the instructions cause the processor to restrict the placement of any virtual elements at a restricted area of the virtual game field.

4. The system of claim 1 , wherein when executed by the processor, the instructions cause the processor to place the virtual element on the virtual game field responsive to an input received, by an input device, from a player.

5. The system of claim 1 , wherein when executed by the processor, the instructions cause the processor to randomly place the virtual element on the virtual game field.

6. The system of claim 1 , wherein the display of the game field associated with the live sporting event comprises a display of a live video of the live sporting event.

7. The system of claim 1 , wherein the event occurring during the live sporting event comprises a plurality of events occurring at different times during the live sporting event which each occur in the area of the displayed game field corresponding to the area of the virtual game field associated with the placed virtual element.

8. The system of claim 1 , wherein the event occurring during the live sporting event comprises an event independent of any participant in the live sporting event.

9. The system of claim 1 , further comprising an acceptor, wherein when executed by the processor, the plurality of instructions cause the processor to, responsive to a physical item being received via the acceptor, modify a credit balance based on a monetary value associated with the received physical item, and responsive to a cashout input being received, cause an initiation of any payout associated with the credit balance.

10. The system of claim 1 , wherein the display device comprises part of a mobile device in communication with the processor via a wireless network.

11. A system comprising:

a processor; and

a memory device that stores a plurality of instructions, which when executed by the processor, cause the processor to:

cause a display device to display a game field associated with a live sporting event,

cause the display device to display a virtual game field overlaid on the game field associated with the live sporting event, wherein a first area of the virtual game field is greater than a corresponding first area of the game field associated with the live sporting event, a second area of the virtual game field is smaller than a corresponding second area of the game field associated with the live sporting event, and part of the first area of the virtual game field corresponds with the second area of the game field associated with the live sporting event,

receive a wager associated with a virtual element placed in the first area of the virtual game field, and

responsive to an event occurring during the live sporting event in the first area of the virtual game field:

determine an award, and

cause the display device to display the determined award.

12. A method of operating a system, the method comprising:

displaying, by a display device, a game field associated with a live sporting event,

placing, by a processor, a virtual element on a virtual game field overlaid on the displayed game field associated with the live sporting event,

receiving a wager associated with the placed virtual element, and

responsive to an event occurring during the live sporting event in an area of the displayed game field corresponding to an area of the virtual game field associated with the placed virtual element:

determining, by the processor, an award, and

displaying, by the display device, the determined award.

13. The method of claim 12 , wherein different areas of the virtual game field are associated with different average expected payouts.

14. The method of claim 12 , further comprising restricting, by the processor, the placement of any virtual elements at a restricted area of the virtual game field.

15. The method of claim 12 , wherein the display of the game field associated with the live sporting event comprises a display of a live video of the live sporting event.

16. The method of claim 12 , further comprising placing, by the processor, the virtual element on the virtual game field responsive to an input received from a player.

17. The method of claim 12 , further comprising randomly placing, by the processor, the virtual element on the virtual game field.

18. The method of claim 12 , wherein the event occurring during the live sporting event comprises a plurality of events occurring at different times during the live sporting event which each occur in the area of the displayed game field corresponding to the area of the virtual game field associated with the placed virtual element.

19. The method of claim 12 , wherein the event occurring during the live sporting event comprises an event independent of any participant in the live sporting event.

20. The method of claim 12 , wherein the display device comprises part of a mobile device in communication with the processor via a wireless network.