Combined fixed price and expected dividend betting system
Patent 4775937 Issued on October 4, 1988. Estimated Expiration Date: 
August 7, 2006. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.
August 7, 2006. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.Patent ReferencesSelf-service wagering system Automatic lottery system Patent #: 4494197 InventorAssigneeApplicationNo. 06/894201 filed on 08/07/1986US Classes:463/28Parimutuel poolExaminersPrimary: Smith, JerryAssistant: MacDonald, Allen R. Attorney, Agent or FirmInternational ClassesG07C 15/00 (20060101)G06Q 50/00 (20060101) G07B 5/04 (20060101) G07F 17/32 (20060101) Foreign Application Priority Data1985-09-20 AUAbstractA betting system having a number of betting terminals and displays connected to a central control unit. The betting system allows both fixed price and expected dividend betting by continually calculating the odds and liabilities in respect of each contestant and ensuring that the total liability incurred does not exceed the total amount of money wagered. Only expected dividend betting is allowed until a threshold level of wagers received is reached either by wagers received at the terminals or by transfers of funds from another body. Once the threshold is reached both fixed price and expected dividend betting is allowed by the system. | |
