Method and system for parimutuel wagering on outcomes

Abstract

A method for determining an award for at least one winner includes establishing at least a first outcome predicated on a common output produced by a plurality of entities working in conjunction, and establishing at least three scenarios associated with the first outcome, each scenario associated with a condition of the first outcome, and receiving a plurality of wagers associated with each scenario and at least one of the entities. The method further includes awarding at least a first award in a parimutuel basis based on the received wagers.

1 . A method for determining an award for at least one winner, the method comprising:
 establishing at least a first outcome, the outcome predicated on a common output produced by a plurality of entities working in conjunction;   establishing at least three scenarios associated with the first outcome, each scenario associated with a condition of the first outcome;   receiving a plurality of wagers associated with each scenario and at least one of the entities;   generating at least a first time signal responsive to the received plurality of wagers, wherein the first time signal comprises a risk level determined responsive to the received wagers; a risk direction responsive to a difference between a first wagers and a second wagers; and a risk forecast derived from the first wagers and the second wagers;   comparing at least the first time signal to a pre-configured threshold value;   issuing a notification signal responsive to the comparison; and   awarding at least a first award in a parimutuel basis based on the received wagers.   
     
     
         2 . The method of  claim 1  wherein establishing the scenarios comprises:
 establishing at least the first award associated with the first outcome; and 
 presenting the established scenarios to the entities. 
 
     
     
         3 . The method of  claim 2  wherein awarding the first award comprises:
 determining a result of the output; 
 comparing the determined result with the received wagers; 
 determining the at least one winner from the entities based on the comparison and the sum of the values associated with the winning wager; 
 establishing a pool based on the received wagers; and 
 awarding the first award based on the determined winner, wherein the first benefit is awarded based on the established pool and the determined winner. 
 
     
     
         4 . The method of  claim 1  wherein awarding the first award comprises:
 determining a result of the output; 
 comparing the determined result with the received wagers; 
 determining the at least one winner from the entities based on the comparison and the sum of the values associated with the winning wager; 
 establishing a pool based on the received wagers; and 
 awarding the first award based on the determined winner, wherein the first benefit is awarded based on the established pool and the determined winner. 
 
     
     
         5 . The method of  claim 4  wherein establishing the scenarios comprises:
 establishing at least a first award associated with the first outcome; and 
 presenting the established scenarios to the entities. 
 
     
     
         6 . The method of  claim 1  wherein receiving a plurality of wagers associated with each scenario and at least one of the entities comprises:
 determining a pattern of the wagers; 
 determining a change in the pattern, wherein the change includes at least one inflection point; 
 associating the inflection point with at least one external factor; 
 modifying the external factor based on the inflection point. 
 
     
     
         7 . The method of  claim 6  wherein the determined change is associated with at least one statement received from the entity making the wager. 
     
     
         8 . The method of  claim 6  further comprising:
 establishing at least a second outcome, the second outcome associated with an intermediate stage prior to attaining the first outcome, the second outcome predicated on a common output produced by the plurality of entities; 
 establishing at least three scenarios associated with the second outcome, each scenario associated with a condition of the second outcome; 
 receiving a plurality of wagers associated with each scenario and at least one of the entities; and 
 awarding at least a second award in a parimutuel basis based on the received wagers. 
 
     
     
         9 . The method of  claim 8  wherein the method further comprises:
 associating at least one of the scenarios associated with the second outcome with at least one of the scenarios associated with the first outcome; 
 comparing received wagers based on the association; and 
 determining at least one inflection point based on the comparison. 
 
     
     
         10 . The method of  claim 9  further comprising:
 determining at least one external factor based on the determined inflection point; and 
 controlling the at least one external factor. 
 
     
     
         11 . The method of  claim 1  wherein the outcome is based on a project, and wherein each of the scenarios relates to a result of the project. 
     
     
         12 . The method of  claim 1  wherein the comparing at least the first time signal to a pre-configured threshold value comprises feeding the risk level, risk direction, and risk forecast into a Boolean logic software device. 
     
     
         13 . The method of  claim 12  further comprising receiving an intervention signal from the Boolean logic software device, and wherein the intervention signal comprises an identification of an organizational level to receive the intervention signal. 
     
     
         14 . The method of  claim 13  further comprising:
 receiving input at a form; 
 analyzing the received input; and 
 providing steps for risk mitigation responsive to the received input, risk level, risk direction, and risk forecast. 
 
     
     
         15 . A computer readable medium including computer readable code for determining an award for at least one winner, the computer readable code comprising:
 computer readable code for establishing at least a first outcome, the outcome predicated on a common output produced by a plurality of entities working in conjunction;   computer readable code for establishing at least three scenarios associated with the first outcome, each scenario associated with a condition of the first outcome;   computer readable code for receiving a plurality of wagers associated with each scenario and at least one of the entities;   computer readable code for generating at least a first time signal responsive to the received plurality of wagers, wherein the first time signal comprises a risk level determined responsive to the received wagers; a risk direction responsive to a difference between a first wagers and a second wagers; and a risk forecast derived from the first wagers and the second wagers;   computer readable code for comparing at least the first time signal to a pre-configured threshold value;   computer readable code for issuing a notification signal responsive to the comparison; and   computer readable code for awarding at least a first award in a parimutuel basis based on the received wagers.   
     
     
         16 . The medium of  claim 15  wherein establishing the scenarios comprises:
 computer readable code for establishing at least the first award associated with the first outcome; and 
 computer readable code for presenting the established scenarios to the entities. 
 
     
     
         17 . The medium of  claim 15  wherein awarding the first award comprises:
 computer readable code for determining a result of the output; 
 computer readable code for comparing the determined result with the received wagers; 
 computer readable code for determining the at least one winner from the entities based on the comparison and the sum of the values associated with the winning wager; 
 computer readable code for establishing a pool based on the received wagers; and 
 computer readable code for awarding the first award based on the determined winner, wherein the first benefit is awarded based on the established pool and the determined winner. 
 
     
     
         18 . The medium of  claim 17  wherein awarding the first award comprises:
 computer readable code for determining a result of the output; 
 computer readable code for comparing the determined result with the received wagers; 
 computer readable code for determining the at least one winner from the entities based on the comparison and the sum of the values associated with the winning wager; 
 computer readable code for establishing a pool based on the received wagers; and 
 computer readable code for awarding the first award based on the determined winner, wherein the first benefit is awarded based on the established pool and the determined winner. 
 
     
     
         19 . The medium of  claim 15  wherein computer readable code for receiving a plurality of wagers associated with each scenario and at least one of the entities comprises:
 computer readable code for determining a pattern of the wagers; 
 computer readable code for determining a change in the pattern, wherein the change includes at least one inflection point; 
 computer readable code for associating the inflection point with at least one external factor; 
 computer readable code for modifying the external factor based on the inflection point. 
 
     
     
         20 . A system for determining an award for at least one winner, the system comprising:
 means for establishing at least a first outcome, the outcome predicated on a common output produced by a plurality of entities working in conjunction;   means for establishing at least three scenarios associated with the first outcome, each scenario associated with a condition of the first outcome;   means for receiving a plurality of wagers associated with each scenario and at least one of the entities;   means for generating at least a first time signal responsive to the received plurality of wagers, wherein the first time signal comprises a risk level determined responsive to the received wagers; a risk direction responsive to a difference between a first wagers and the second wager; and a risk forecast derived from the first wagers and the second wagers;   means for comparing at least the first time signal to a pre-configured threshold value;   means for issuing a notification signal responsive to the comparison; and   means for awarding at least a first award in a parimutuel basis based on the received wagers.