G - Physics – 07 – F
Patent
G - Physics
07
F
354/44
G07F 17/32 (2006.01) G06Q 50/00 (2006.01) G07B 5/04 (2006.01) G07C 15/00 (2006.01)
Patent
CA 1269169
ABSTRACT OF THE DISCLOSURE A fixed betting system is provided for providing fixed price and expected dividend betting, It includes a control unit, a plurality of betting terminals coupled to the control unit for inputting details to the control unit of a punter's wager entered at a particular terminal, a plurality of display means for displaying odds and expected dividends, coupled to the control unit, and a control terminal for inputting control instructions to the system, coupled to the control unit. The control unit includes: liability calculation means for calculating from the information received from each betting terminal the liability incurred for each contestant. First accumulation means are provided for accumulating the total amount of the wagers and second accumulation means are also provided for accumulating the total amount of uncancellable expected dividend wagers. Fixed price calculation means are coupled to the liability calculation means and to the first and second accumulation means for calculating the fixed price payable in respect of each contestant. Expected divided calculation means are coupled to the liability calculation means and to the first and second accumulation means for calculating the expected dividend payable in respect of each contestant. The control unit also includes means for preventing the liability incurred for any one contestant from exceeding the total amount of the wagers. The betting terminals include means responsive to the control unit to issue a record of each betting transaction indicating details of of the Disclosure (page 2) a wager, and the fixed price payable in respect of the wager following completion of the calculations by the control Abstract unit in respect of the transaction. The system further includes means for initially only providing expected dividend betting until the total amount of uncancellable expected dividend wagers is equal to a predetermined figure, after which both expected dividend and fixed price betting are provided.
518031
Atl Pty. Limited
Bell Michael J.
Mcfadden Fincham
LandOfFree
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