Competitive Wagering System for Betting on an Event

Abstract

A wagering system provided by a betting organiser for one or more players to bet on an event. Each of the players provides the betting organiser with monetary value in order to be eligible to participate in the wagering system. The betting organiser accumulates the monetary value provided by each of the players into a centralised prize pool prior to the commencement of the event. The event comprises a plurality of integers having at least first and second possible outcomes, whereby, if the first outcome occurs, the players who wagered on the first outcome win and, if the second outcome occurs, the players who wagered on the first outcome lose. At the conclusion of each integer, a pay off dividend is credited to each winning player. At the conclusion of the event, the centralised prize pool is distributed to the players with the highest accumulated value of credited pay off dividends.

1 - 20 . (canceled) 
     
     
         21 . A wagering system provided by a betting organiser for one or more players to bet on an event;
 each of the players provides the betting organiser with monetary value in order to be eligible to participate in the wagering system;   the betting organiser accumulates the monetary value provided by each of the players into a centralised prize pool prior to the commencement of the event;   the event comprising a plurality of integers haying at least first and second possible outcomes whereby, if the first outcome occurs, the players who wagered on the first outcome win and, if the second outcome occurs, the players who wagered on the first outcome lose;   at the conclusion of each integer, a pay off dividend, is credited to each winning player;   wherein, at the conclusion of the event, the centralised prize pool is distributed to the players with the highest accumulated value of credited pay off dividends.   
     
     
         22 . A wagering system of  claim 21  including an input device connected to a betting agency's computer system, the input device being adapted for each of the players to enter one or more bets to the computer system via the input device, wherein each one of the bets entered by the players includes the player's wager for each of the Integers of the event. 
     
     
         23 . A wagering system of  claim 22  wherein the players' bets must be entered into the computer system via the input device during a predetermined period of time, which expires prior to the commencement of the first integer of the event. 
     
     
         24 . A wagering system of  claim 23  wherein each Integer of the event is contested by two or more participants, whereby the outcome of the integer is determined by the final ranked order of the participants at the conclusion of the integer. 
     
     
         25 . A wagering system of  claim 24  wherein each player selects at least one participant in at least one of the integers of the event and inputs this selection to the betting agency's computer system via the input device at the time of placing their bet. 
     
     
         26 . The wagering system of  claim 25  wherein a percentage of the wagers of each of the player's bets entered into the computer system via the input device is accrued, forming one or more additional prizes. 
     
     
         27 . A wagering system of  claim 26  wherein the event is a race meeting or sporting competition. 
     
     
         28 . A wagering system of  claim 27  wherein the race meeting is one or more of “horse racing, greyhound racing, harness racing, athletics, swimming, racing, triathlon or motor racing” and the sporting competition is one or more of “a football competition, a cricket competition, a hockey competition, a basketball competition or a baseball competition”. 
     
     
         29 . A wagering system of  claim 28  wherein the integer is an individual race or sporting match. 
     
     
         30 . A wagering system of  claim 29  wherein the individual race is any one or more of “a horse race, a greyhound race, a harness race, an athletic race, a swimming race, a triathlon or a motorsport race” and the sporting match is any one or more of “a football match, a cricket match, a hockey game, a basketball game or a baseball game”. 
     
     
         31 . The wagering system of  claim 30  wherein the participant is successful in the integer by winning the individual race or sporting match. 
     
     
         32 . The wagering system of  claim 31  wherein at the conclusion of the predetermined period of time, at least one participant in at least one of the integers of the event is randomly selected by the betting agency. 
     
     
         33 . The wagering system of  claim 32  whereby only the players who select the same participant and integer of the event as randomly selected by the betting agency are eligible to win one of the additional prizes. 
     
     
         34 . The wagering system of  claim 33  wherein the additional prize will only be distributed to the eligible players if the selected participant is successful in the selected integer of the event. 
     
     
         35 . A wagering system of  claim 34  wherein the random at least one participant in at least one integer is selected by one or more of a computer system or lottery. 
     
     
         36 . A wagering system for one or more players to bet on an event;
 the event comprising a plurality of integers having at least first and second possible outcomes;   whereby, if the first outcome occurs, the players who wagered on the first outcome win and, if the second outcome occurs, the players who wagered on the first outcome lose;   at the conclusion of each integer, a pay off dividend is credited to each winning player and at least a portion of the pay off dividend is payed into an accumulative prize pool;   wherein, at the conclusion of the event, the accumulative prize pool is distributed to the players with the highest accumulated value or credited pay off dividends.   
     
     
         37 . A wagering system for one or more players to bet on an event;
 each of the players provides the betting organiser with monetary value in order to be eligible to participate in the wagering system;   the betting organiser accumulates the monetary value provided by each of the players into a centralised prize pool prior to the commencement of the event;   the event comprising a plurality of Integers having at least first and second possible outcomes whereby, if the first outcome occurs, the players who wagered on the first outcome win and, if the second outcome occurs, the players who wagered on the first outcome lose;   at the conclusion of each integer, a pay off dividend is credited to each winning player;   at the conclusion of the event, a plurality of prizes are apportioned from the centralised prize pool, most winners prize pool, and winners prize pool, whereby each one of the plurality of prizes is a pre-determined percentage of the monetary value which is accumulated in the centralised prize pool, most winners prize pool, all winners prize pool;   each of the plurality of prizes is paid to one or more of the players according to the following:   a first prize is paid to the player with the highest accumulated value of credited pay off dividends during the event;   a second prize is paid to the player that selects the most winning outcomes during the event;   a third prize is paid to a player In the event that the player successfully selects all of the winning outcomes during the event; and   in the event that no player successfully selects all of the winning outcomes during the event, the monetary value of the third prize is accumulated into a jackpot prize pool.