Online wagering system and method

Abstract

A system and method to provide pari-mutuel wagering on contests having large numbers of entrants. A series of wagering events are provided on the system. Each wagering event is configured to display a particular contest such as a large poker player tournament. Each tournaments wagering event has a pari-mutuel wagering option and an exotic wagering option. The pari-mutuel wagering option allows users to wager on the top ranked individuals in the tournament. For example, the top 50 players in the world playing in the World Series poker would be listed in the individual parimutuel wagering option. The pari-mutuel wagering option also allows users to wager on the remaining 5000 players in the tournament in various formats. The formats include categorizing these players into groups organized for example, by last name, and placed into alphabetic groupings. The exotic wagering options allow for a pick six scenario, and exacta scenario, a quinella scenario, and a trifecta scenario, other exotic wagering options are also provided.

1 . A system for providing pari-mutuel wagering on contests having a large number of entrants, said system comprising: 
 a. a plurality of wagering events each configured around a particular contest, said wagering events including, a plurality of pari-mutuel wagering events, a plurality of exotic wagering events,    b. said pari-mutuel wagering events each having a plurality of individual entrant wagers, a plurality of group entrant wagers, said individual entrant wagers provided for a first range of wagers on a plurality of entrants in the contest, said group entrant wagers provided for a second range of wagers on the remaining entrants in the contest,    c. said exotic wagering events each including a plurality of wagers to choose a plurality of entrants to place in various positions within the contest.    
   
   
       2 . The system according to  claim 1  wherein the plurality of entrants placing in various positions in the contest include choosing: 
 a. six entrants to place in the contest,    b. two entrants to place in exact order in the contest,    c. two entrants to place in any order in the contest,    d. three entrants to place in exact order in the contest,    e. many entrants to place in a particular order.    
   
   
       3 . The system according to  claim 1  wherein said contests include a plurality of poker playing tournaments, said poker playing tournaments either online or live.  
   
   
       4 . The system according  claim 1  wherein said first range of wagers is for: 
 a. a series of top ranked entrants,    b. a series of bottom ranked entrants,    c. a series of randomly ranked entrance.    
   
   
       5 . The system according to  claim 1  wherein said first range of wagers is for at least 25 of a series of top ranked entrants.  
   
   
       6 . The system according to  claim 1  wherein said first range of wagers is for at least 25 of a series of the bottom ranked entrants.  
   
   
       7 . The system according to  claim 1  wherein said first range of wagers is for at least 25 of the entrants.  
   
   
       8 . The system according to  claim 1  wherein said group entrant wagers include a second range of 26 wagers for the remaining entrants in the contest.  
   
   
       9 . The system according to  claim 1  wherein said second range of 26 wagers is further categorized alphabetically.  
   
   
       10 . The system according to  claim 1  wherein said second range of wagers is further categorized by nationality.  
   
   
       11 . The system according to  claim 1  wherein said second range of wagers includes a series of sub group entrant wagers, said series of sub group entrant wagers further defined alphanumerically.  
   
   
       12 . The system according to  claim 1  wherein said second range of wagers is further categorized by geographic location.  
   
   
       13 . The system according to  claim 1  wherein said second range of wagers is further categorized by a ranking system.  
   
   
       14 . A system for providing pari-mutuel wagering on contests having a large number of entrants, said system having a wagering server, a plurality of clients, the wagering server connected to a network, the plurality of clients connected to the network and having inter operability with the wagering server, the system further having a plurality of contest sites, banks, cellular systems, and ATM systems, the system further comprising: 
 a. the wagering server having a wagering application, the wagering application having a wagering database, the wagering application having a plurality of sub applications, the sub applications including a wagering front end application and a wagering back end application,    b. the wagering database further having a plurality of class objects including: 
 i. a class of wagering back end objects, a class of wagering front end objects, the class of wagering back end objects including a series of input objects and a series of report objects,  
 ii. the class of wagering front end objects including a series of account set up objects and a series of account display objects,  
   c. the wagering back end application configured to access the class of wagering back end objects including the series of input objects and series of report objects to create a plurality of wagering events around said contests, said wagering events including pari-mutuel wagering events and exotic wagering events,    d. said pari-mutuel wagering events each having a plurality of individual contestant wagers, a plurality of group contestants wagers, said individual contestant wagers provided for a first range of wagers on a plurality of entrants in the contest, said group contestant wagers provided for a second range of wagers on the remaining entrants in the contest,    e. said exotic wagering events each including a wager to choose six entrants to place in the contest, choose two entrants to place in an exact order in the contest, choose two entrants to place in any order in the contest, choose three entrants to place an exact order in the contest.    
   
   
       15 . The system according to  claim 14  wherein the wagering server further comprises a contest site application, the contest site application having a contest site database, the contest site application accessing a plurality of contest site objects contained within the contest site database, the contest site objects including a contest site front end object, a contest site back end object, the contest site front end configured to be run at a client located at the contest site, the contest site back end object configured to send and receive information to and from the contest site front end client.  
   
   
       16 . The system according to  claim 14  wherein the wagering server further comprises a banking application having a banking database, the banking database further comprising a series of banking objects including a banking front end, and a banking back end, the banking application configured to be run on one of the client's located within one of the system banks.  
   
   
       17 . A system for providing users pari-mutuel wagering on contests having a large number of entrants, said system comprising: 
 a. a plurality of wagering events each configured around a particular contest, said wagering events including a plurality of pari-mutuel wagering events and a plurality of exotic wagering events,    b. said pari-mutuel wagering events each having a plurality wagers divided into a plurality of individual entrant wagers and a plurality of group entrant wagers, said individual entrant wagers provided for a first range of wagers on a plurality of entrants in the contest, said group entrant wagers provided for a second range of wagers on the remaining entrants in the contest,    c. each wager in said plurality of wagers having an entrant identifier, a currently pooled wager amount, a currently calculated precut odds, and a currently calculated post cut odds,    d. the wagering event further comprises a total currently pooled wager amount, a house percentage cut, and a total pool post cut wager amount, where the post cut odds for a particular wager are calculated by dividing the total pool post cut wager amount by the individual currently pooled wager amount,    e. said exotic wagering events each including a plurality of wagers to choose six entrants to place in the contest, a plurality of wagers to choose two entrants to place in exact order in the contest, a plurality of wagers to choose two entrants to place in any order in the contest, a plurality of wagers to choose three entrants to place in exact order in the contest.    
   
   
       18 . A method for conducting pari-mutuel wagering on contests having a large number of entrants, said method comprising: 
 a. providing a plurality of wagering events each configured around the particular contest, said wagering events including a plurality of pari-mutuel wagering events and a plurality of exotic wagering events,    b. providing for said pari-mutuel wagering events a plurality of individual entrant wagers and a plurality of group entrants wagers,    c. providing for said individual entrant wagers a first range of wagers on a plurality of entrants in the contest,    d. providing for said group entrants wagers a second range of wagers on the remaining entrants in the contest,    e. providing a exotic wagering events each including a plurality of wagers to choose a plurality of entrants to place in various positions within the contest.    
   
   
       19 . The method according to  claim 18  wherein the plurality of entrants placing in various positions in the contest includes choosing: 
 a. six entrants to place in the contest,    b. two entrants to place in exact order in the contest,    c. two entrants to place in any order in the contest,    d. three entrants to place in exact order in the contest,    e. many entrants to place in a particular order.    
   
   
       20 . A method for providing pari-mutuel wagering on contests having a large number of entrants, said method providing a wagering server, a plurality of clients, the wagering server connected to a network, the plurality of clients connect to the network and having interoperability with the wagering server, a method further connecting a plurality of contests sites, banks, cellular systems, and ATM systems to the network, said method further comprising: 
 a. providing a wagering application on the wagering server, the wagering application having a wagering database, the wagering application further having a plurality of sub applications, the sub applications including a wagering frontend application and a wagering backend application,    b. providing in the wagering database a plurality of class objects including:    c. a class of wagering backend objects and a class of wagering frontend objects, the class of wagering backend objects including a series of input objects and a series of report objects,    d. the class of wagering front end objects including a series of account set up objects in a series of account display objects,    e. the wagering backend application accessing the class of wagering backend objects including, accessing the series of input objects, accessing the series of report objects, and creating a plurality of wagering events each configured around the particular contest, said wagering events including a plurality of pari-mutuel wagering events and a plurality of exotic wagering events,    f. providing for said pari-mutuel wagering events, a plurality of individual entrant wagers and a plurality of group entrants wagers,    g. providing for said individual entrant wagers a first range of wagers on a plurality of entrants in the contest,    h. providing for said group entrants wagers a second range of wagers on the remaining entrants in the contest,    i. providing a set of exotic wagers including, choosing six wagering events to place in the contest, choosing two wagering events to place in exact order in the contest, choosing two wagering events to place in any order in the contest, choosing three wagering events to place in exact order in the contest.    
   
   
       21 . A means for providing pari-mutuel wagering on contests having a large number of entrants, said means comprising: 
 a. a plurality of wagering events each configured around a particular contest, said wagering events including, a plurality of pari-mutuel wagering events, a plurality of exotic wagering events,    b. said pari-mutuel wagering events each having a plurality of individual entrant wagers, a plurality of group entrant wagers, said individual entrant wagers provided for a first range of wagers on a plurality of entrants in the contest, said group entrant wagers provided for a second range of wagers on the remaining entrants in the contest,    c. said exotic wagering events each including a plurality of wagers to choose a plurality of entrants to place in various positions within the contest.