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Claims  |
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What is claimed is:
1. A method of playing a live casino table game comprising:
a) a player making a wager to participate in the live casino table game;
b) allocating a portion of the wager to the gaming establishment as its share of the wager for providing the game;
c) allocating the remainder of the wager to a common pari-mutuel pool to provide a source of funds for paying the player;
d) determining whether the player is a winner or loser for a particular play of the game;
e) paying the player a predetermined payout amount from the common pari-mutuel pool for a winning play; and
f) collecting all losing wagers into the common pari-mutuel pool.
2. The method of claim 1 in which the live casino table game is twenty-one and the predetermined payout amount is based on conventional twenty-one winning combinations.
3. The method of claim 1 in which the live casino table game is craps and the predetermined payout amount is based on conventional craps winning combinations.
4. The method of claim 1 in which the live casino table game is baccarat and the predetermined payout amount is based on conventional baccarat winning combinations.
5. The method of claim 1 in which the live casino table game is selected from the group consisting of poker, twenty-one, craps, baccarat, pai-gow poker, roulette and Caribbean Stud.RTM. poker.
6. The method of claim 1 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a percentage of the player's wager to the gaming establishment.
7. The method of claim 1 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a preestablished amount of the player's buy in to the gaming establishment.
8. The method of claim 1 wherein the step of allocating a portion of the wager to the gaming establishment is effected by imposing a flat fee charge to the player and designating that flat fee charge to the gaming establishment.
9. The method of claim 8 wherein the flat fee charge is imposed at the beginning of play.
10. The method of claim 8 wherein the flat fee charge is imposed on a time period basis.
11. The method of claim 1 further including allocating a portion of the predetermined payout amount to the gaming establishment.
12. A method of playing a plurality of live casino table games linked together and sharing a common pari-mutuel pool comprising:
a) a player making a wager to participate in one of the live casino table games;
b) allocating a portion of the wager to the gaming establishment as its share of the wager for providing the game;
c) allocating the remainder of the wager to a common pari-mutuel pool to provide a source of funds for paying the player;
d) determining whether the player is a winner or loser for a particular play of the game;
e) paying the player a predetermined payout amount from the common pari-mutuel pool for a winning play; and
f) collecting all losing wagers into the common pari-mutuel pool.
13. The method of claim 12 in which all of the live casino table games are twenty-one and the predetermined payout amount is based on conventional twenty-one winning combinations.
14. The method of claim 12 in which all of the live casino table games are craps and the predetermined payout amount is based on conventional craps winning combinations.
15. The method of claim 12 in which all of the live casino table games are baccarat and the predetermined payout amount is based on conventional baccarat winning combinations.
16. The method of claim 12 in which all of the live casino table games are selected from the group consisting of poker, twenty-one, craps, baccarat, pai-gow poker, roulette and Caribbean Stud.RTM. poker.
17. The method of claim 12 in which the live casino table games are selected from the group consisting of poker, twenty-one, craps, baccarat, pai-gow poker, roulette and Caribbean Stud.RTM. poker.
18. The method of claim 12 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a percentage of the player's wager to the gaming establishment.
19. The method of claim 12 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a preestablished amount of the player's buy in to the gaming establishment.
20. The method of claim 12 wherein the step of allocating a portion of the wager to the gaming establishment is effected by imposing a flat fee charge to the player and designating that flat fee charge to the gaming establishment.
21. The method of claim 20 wherein the flat fee charge is imposed at the beginning of play.
22. The method of claim 20 wherein the flat fee charge is imposed on a time period basis.
23. The method of claim 12 further including allocating a portion of the predetermined payout amount to the gaming establishment.
24. A method of playing a plurality of various live casino table games, the live casino table games being linked together and each type of live casino table games sharing a common pari-mutuel pool and all of the common pari-mutuel pools sharing
a master casino pari-mutuel pool comprising:
a) a player making a wager to participate in one of the variety of live casino table games;
b) allocating a portion of the wager to the gaming establishment as its share of the wager for providing the game;
c) allocating the remainder of the wager to a common pari-mutuel pool for that particular variety of live casino table game to provide a source of funds for paying the player;
d) determining whether the player is a winner or loser for a particular play of the game;
e) paying the player a predetermined payout amount from the common pari-mutuel pool for a winning play; and
f) collecting all losing wagers into the common pari-mutuel pool;
g) allocating a portion of the common pari-mutuel pool to a master casino pari-mutuel pool to provide a source of funds for the common pari-mutuel pool as needed.
25. The method of claim 24 in which the live casino table games are selected from the group consisting of poker, twenty-one, craps, baccarat, pai-gow poker, roulette and Caribbean Stud.RTM. poker.
26. The method of claim 24 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a percentage of the player's wager to the gaming establishment.
27. The method of claim 24 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a preestablished amount of the player's buy in to the gaming establishment.
28. The method of claim 24 wherein the step of allocating a portion of the wager to the gaming establishment is effected by imposing a flat fee charge to the player and designating that flat fee charge to the gaming establishment.
29. The method of claim 28 wherein the flat fee charge is imposed at the beginning of play.
30. The method of claim 28 wherein the flat fee charge is imposed on a time period basis.
31. The method of claim 24 further including allocating a portion of the predetermined payout amount to the gaming establishment.
32. A method of playing a plurality of various live casino table games and electronic pari-mutuel gaming devices, the live casino table games and electronic pari-mutuel gaming devices being linked together and each type of live casino table
games sharing a common pari-mutuel pool and each type of electronic pari-mutuel gaming device sharing a common pari-mutuel pool and all of the common pari-mutuel pools sharing a master casino pari-mutuel pool comprising:
a) a player making a wager to participate in one of the variety of live casino table games or electronic pari-mutuel gaming devices;
b) allocating a portion of the wager to the gaming establishment as its share of the wager for providing the game;
c) allocating the remainder of the wager to a common pari-mutuel pool for that particular variety of live casino table game or electronic pari-mutuel gaming device to provide a source of funds for paying the player;
d) determining whether the player is a winner or loser for a particular play of the game;
e) paying the player a predetermined payout amount from the common pari-mutuel pool for a winning play; and
f) collecting all losing wagers into the common pari-mutuel pool;
g) allocating a portion of the common pari-mutuel pool to a master casino pari-mutuel pool to provide a source of funds for the common pari-mutuel pools as needed.
33. The method of claim 32 in which the live casino table games are selected from the group consisting of poker, twenty-one, craps, baccarat, pai-gow poker, roulette and Caribbean Stud.RTM. poker and the electronic pari-mutuel gaming devices
are selected from the group consisting of slot machines, electronic video poker, electronic twenty-one and electronic craps.
34. The method of claim 32 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a percentage of the player's wager to the gaming establishment.
35. The method of claim 32 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a preestablished amount of the player's buy in to the gaming establishment.
36. The method of claim 32 wherein the step of allocating a portion of the wager to the gaming establishment is effected by imposing a flat fee charge to the player and designating that flat fee charge to the gaming establishment.
37. The method of claim 36 wherein the flat fee charge is imposed at the beginning of play.
38. The method of claim 36 wherein the flat fee charge is imposed on a time period basis.
39. The method of claim 32 further including allocating a portion of the predetermined payout amount to the gaming establishment.
40. A method of playing a plurality of various live casino table games, electronic pari-mutuel gaming devices and live pari-mutuel games, the live casino table games, electronic pari-mutuel gaming devices and live pari-mutuel sporting events
being linked together and each type of live casino table game sharing a common pari-mutuel pool, each type of electronic pari-mutuel gaming device sharing a common pari-mutuel pool and each type of live pari-mutuel sporting event sharing a common
pari-mutuel pool and all of the common pari-mutuel pools sharing a master pari-mutuel pool comprising:
a) a player making a wager to participate in one of the variety of live casino table games, electronic pari-mutuel gaming devices or live pari-mutuel sporting events;
b) allocating a portion of the wager to the gaming establishment as its share of the wager for providing the game;
c) allocating the remainder of the wager to a common pari-mutuel pool for that particular variety of live casino table game, electronic pari-mutuel gaming devices or live pari-mutuel sporting events to provide a source of funds for paying the
player;
d) determining whether the player is a winner or loser for a particular play of the game;
e) paying the player a predetermined payout amount from the common pari-mutuel pool for a winning play; and
f) collecting all losing wagers into the common pari-mutuel pool;
g) allocating a portion of the common pari-mutuel pool to a master pari-mutuel pool to provide a source of funds for the common pari-mutuel pools as needed.
41. The method of claim 40 in which the live casino table games are selected from the group consisting of poker, twenty-one, craps, baccarat, pai-gow poker, roulette and Caribbean Stud.RTM. poker, the electronic pari-mutuel gaming devices are
selected from the group consisting of slot machines, electronic video poker, electronic twenty-one and electronic craps and the live pari-mutuel sporting events are selected from the group consisting of horse racing and dog racing.
42. The method of claim 40 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a percentage of the player's wager to the gaming establishment.
43. The method of claim 40 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a preestablished amount of the player's buy in to the gaming establishment.
44. The method of claim 40 wherein the step of allocating a portion of the wager to the gaming establishment is effected by imposing a flat fee charge to the player and designating that flat fee charge to the gaming establishment.
45. The method of claim 44 wherein the flat fee charge is imposed at the beginning of play.
46. The method of claim 44 wherein the flat fee charge is imposed on a time period basis.
47. The method of claim 40 further including allocating a portion of the predetermined payout amount to the gaming establishment.
48. A method of playing a casino game which includes a pari-mutuel pool that is closed comprising:
a) a player making a wager to participate in the casino game;
b) allocating a portion of the wager to the gaming establishment as its share of the wager for providing the game;
c) allocating the remainder of the wager to a common pari-mutuel pool to provide a source of funds for paying the player;
d) determining whether the player is a winner or loser for a particular play of the game;
e) paying the player a predetermined payout amount from the common pari-mutuel pool for a winning play;
f) collecting all losing wagers into the common pari-mutuel pool;
g) declaring after a length of time that the common pari-mutuel pool is closed;
h) paying the next winning player all of the amount collected in the common pari-mutuel pool.
49. The method of claim 48 in which the casino game is twenty-one and the predetermined payout amount is based on conventional twenty-one winning combinations.
50. The method of claim 48 in which the casino game is craps and the predetermined payout amount is based on conventional craps winning combinations.
51. The method of claim 48 in which the casino game is baccarat and the predetermined payout amount is based on conventional baccarat winning combinations.
52. The method of claim 48 in which the casino game is selected from the group consisting of poker, twenty-one, craps, baccarat, pai-gow poker, roulette and Caribbean Stud.RTM. poker.
53. The method of claim 48 in which the casino game is an electronic device and is selected from the group consisting of slot machines, electronic video poker and electronic twenty-one.
54. The method of claim 48 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a percentage of the player's wager to the gaming establishment.
55. The method of claim 48 wherein the step of allocating a portion of the wager to the gaming establishment is effected by designating a preestablished amount of the player's buy in to the gaming establishment.
56. The method of claim 48 wherein the step of allocating a portion of the wager to the gaming establishment is effected by imposing a flat fee charge to the player and designating that flat fee charge to the gaming establishment.
57. The method of claim 56 wherein the flat fee charge is imposed at the beginning of play.
58. The method of claim 56 wherein the flat fee charge is imposed on a time period basis.
59. The method of claim 48 further including allocating a portion of the predetermined payout amount to the gaming establishment. |
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Claims |
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Description |
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This invention relates to electronic gaming devices
such as video poker, slot machines, twenty-one games or craps games, and more particularly to a method and apparatus for operating an electronic gaming device in which the payouts are based on a pari-mutuel system so that the percentage earned by the
gaming establishment is predetermined. This invention also relates to live casino table games such as twenty-one games, craps games or baccarat games, and more particularly to a method and apparatus for operating live casino table games in which the
payouts are based on a pari-mutuel system so that the percentage earned by the gaming establishment is predetermined.
BACKGROUND OF THE INVENTION
This invention relates to both electronic gaming devices and live casino table games which are designed to comply with both federal and state gaming regulations. For the most part, traditional electronic gaming devices, such as video poker
machines, slot machines, twenty-one games or craps games as well as live casino table games such as twenty-one, craps and baccarat have not been able to comply with such regulations.
This compliance is accomplished through program designs for the play, of these games which will cause them to be played in adherence to pari-mutuel definitions.
Pari-mutuel betting is considered the fairest system of betting known and is generally credited with the elimination of bookmakers at racetracks. The pari-mutuel system was devised in 1870 by Pierre Oller, a French businessman. The term
pari-mutuel derives from the French expression meaning "a wager among ourselves". There have been many improvements in pari-mutuel wagering since its inception. The present method of calculating payoff prices in pari-mutuel pools was set up in 1908 by
Col. Matt J. Winn and Judge Charles Franklin Price of Louisville, Ky. These methods have remained fairly standard in the United States and Canada.
The general concept of pari-mutuel wagering comprises a betting system in which winners share the total stakes wagered on an event minus a percentage for the management. Another way of stating this is that pari-mutuel wagering is a form of
betting in which the losers' wagers (less a percentage for the house and taxes) are distributed among the winners. A representative example of pari-mutuel wagering occurs in horse race betting in which those who bet on the winning horses share the total
stakes wagered minus a small percentage set aside for the management and to fund the purses in the horse race. In the typical horse race pari-mutuel wagering system, the first three horses (the win horse, the place horse and the show horse) create
winning events for the bettor.
Machines have been developed that record and calculate the payoffs in a pari-mutuel wagering system. Traditionally a pari-mutuel machine has been defined as a machine for registering and indicating the number and nature of bets made (as on a
horse race) in the pari-mutuel system of betting. Electronic pari-mutuel machines have been developed that register the wagers in pari-mutuel betting as they are made and calculate and post the changing odds and final payoffs.
Video poker has become one of the most desirable games of choice in the history of modern legalized gaming. Video poker is a generic term covering a myriad of electronic gaming devices, referred to as video poker machines, that simulate the play
of different types of poker games. In its original form, a video poker machine electronically displayed a five card draw poker hand. The player had the option of holding or discarding any of the five displayed cards. The video poker machine would then
display replacement cards for the cards that had been discarded. The player would win multiples of his original bet based on the type of poker hand that he had achieved after the draw of the cards. The payouts were based on traditional poker hand
ranking with a Royal Flush being the highest and paying the player the most, all the way down to a Pair of Face Cards that would pay the player one-for-one odds on his original bet. Any hand less than a Pair of Face Cards would be a loser.
A traditional video draw poker machine uses a single deck of 52 cards and has one player using that single deck. The deck is reshuffled after every hand. It is a simple mathematical calculation to determine the probability of the various types
of poker hands being achieved on any single deal and draw. The payouts can then be selected so that the house will hold a percentage of the wagers made. On any given hand, there is no guarantee that the house will win, rather the profit of the game is
realized by the probabilities involved from the play of the machine over a long period of time.
In traditional electronic video poker machines, the house can adjust the pay tables according to the laws of probability, putting the odds in favor of the house. The house then banks the game and takes wagers with the odds in their favor and
relies on the laws of probability for its profits. Another factor the house uses to increase its profits is the lack of proficiency and inexperience of the player with regard to draw poker probability and theory of play. This also results in an
increase of the level of the house's profits.
Electronic video poker machines as described above do not operate in a pari-mutuel manner. Players do not typically compete for common pools of money in these games. They are played as house banking games and therefore fall outside legalized
gaming as defined and permitted in most states. Pari-mutuel gaming on the other hand is legal and permitted in a vast majority of states within the United States. The present invention describes game formats which will comply with these pari-mutuel
regulations and, therefore, be playable in all states allowing these types of gaming activities.
Indian tribal gaming operations have become a large and controversial form of gaming in recent years. At present, the Federal Indian Gaming Regulatory Agency is in the process of prohibiting all coin operated gaming devices on Indian land unless
the tribe enters into a compact with the state government that authorizes the use of these types of gaming devices. It may be assumed that the introduction of pari-mutuel-type electronic gaming machines will allow for a much smoother entry into these
markets as these machines will comply with regulations already in force in most states.
Currently, table games such as twenty-one, craps and baccarat are played as house banked games. A house banked game is any game of chance that is played with the house as a participant in the game, where the house takes on all players, collects
from all losers and pays all winners, thus deriving all profits from the outcome of the game. These games can also be played as player banked where one player banks and plays against the other players. In many states, house banked gaming is illegal,
therefore many establishments, including those on Indian reservations, have resorted to allowing player banked table games. There are, however, some disadvantages with player banked games. Player banked games move at a noticeably slower rate and the
amounts that a player wagers are often limited due to the amount carried by the banker. For example, should a player with only one hundred dollars bank the game, he may choose to wager only twenty dollars, thus greatly limiting the amounts which the
other players can wager.
In pari-mutuel table games, the house cannot win money from the players but can only collect a commission on wagers. With a commission level established which would provide sufficient profits to the operators this could, however, be a boon
rather than a detriment. While the house could no longer win money from the players, it could also not lose money to the players. This would allow for a far lower level of capital funding necessary for the operation of the casino and would also remove
pressure on the bankroll of the casino because there will not be any abnormal periods of losses by the house. Traditionally, in house banked casinos, due to pressure from upper management, floor persons and pit bosses have a tendency to show undue
concern over the money won by players. In turn, pressure is placed on the dealers when players win big bets. This typically creates a somewhat hostile environment for the player and has a negative effect on public relations with the players. However,
in a pari-mutuel table game system, whatever a player bets and regardless of whether he wins or loses, the house's commission is determined by the rate of collection (or "rake") on the player's wager. Should the player win that bet, the house still
retains the commission on that one wager, and would continue to collect the commission on any future bets that player may make.
This would change the attitude of casino management because the house's profits are not based on the outcome of the game. In a game such as twenty-one, the house could modify the rules of play to make the game more advantageous to the player
(e.g., paying 2 to 1 on a blackjack rather than 3 to 2, paying double the bet for having five cards or more with 21 or under, allowing players to hit aces after splitting them rather than allowing for only one card on each ace, etc.).
Many racetracks are apprehensive with regard to having casino games on the premises for fear that casino gaming may detract from the wagering on horse racing, thus making casino gaming the primary choice of wagering and deteriorating the value of
the sport of kings. However, by allowing for transfer of funds from a master pari-mutuel pool into a pool such as a jackpot horse race pool, the stakes on the racetracks can be greatly increased which would insure more wagering on horses. For example,
the pari-mutuel horse race jackpot pool could be increased due to transfer of funds from the master pari-mutuel pool for players who could pick the trifecta pool (first, second and third horse in a precise order for a particular race). This high
increase in the jackpot pool would attract more players to wager on races.
It is envisioned that, with the introduction of gaming machines that comply with regulations in force in most airspace in the U.S., the placement of pari-mutuel electronic video poker consoles on airliners will provide the passengers with a
source of entertainment heretofore unavailable. The value of this in terms of both the attraction and additional revenues for an ailing U.S. airline industry cannot be overemphasized.
Pari-mutuel wagering is legal in every state except Utah and Hawaii. Pari-mutuel video games on aircraft can conceivably be played while flying over the airspace of states which have expanded their existing pari-mutuel gaming laws to include
pari-mutuel video gaming. This allows the states to generate additional revenues through gaming taxes without having the disadvantages which come with the spread of gaming in their state. Gaming taxes can be collected on a pro-rated basis by the
participating states.
In the past, there has been no need to legally transport gaming equipment across state lines continuously. Now with the advent of pari-mutuel electronic video gaming on aircraft, gaming equipment will be crossing state lines continuously. In
order for states to collect taxes while video gaming is being played in their air space, there will have to be a sharing of revenue (gaming taxes) from the pari-mutuel pools by states on the aircraft's route.
Also with pari-mutuel gaming the passengers will be playing against other passengers and not against the airline. This should eliminate resentment towards the carrier by people who lose, since the airline is just managing the machines and not
participating in any wagering.
Aside from the obvious advantages of pari-mutuel in-flight gaming, as it allows for the placement of gaming devices on aircraft which conform to legal requirements in all states in which overflight occurs, it also has the ability to establish a
procedure for the collection of gaming debts incurred during in-flight gaming. Historically, gaming debts have proven difficult to collect in states which consider certain gaming transactions against public policy. For example, if an operator of a
cruise ship operating in international waters extends credit to a player the operator may find that this debt is uncollectible when suit is brought against the player in his state of residence.
Many of the international flights spend a substantial amount of flight time over U.S. airspace (e.g. Los Angeles to London, Los Angeles to Paris and New York to Tokyo). In some of these examples approximately 50% of the flight could be
restricted from any gaming revenue. If these hours lost are typically the hours most passengers are not sleeping, then gaming revenues will be down significantly.
Typically, if twenty video poker machines are hooked up together on a progressive jackpot system, the jackpot will rarely exceed ten thousand dollars. An aircraft flying on a domestic route is usually a narrow bodied aircraft, able to seat only
an average of one hundred passengers. Therefore, without a multi-deck video poker game on the aircraft, it would be necessary to have five progressive jackpot pools in order for the progressive jackpot to reach as high as ten thousand dollars; twenty
machines per progressive. The more machines hooked up to one progressive jackpot pool, the less the jackpot would be, thus the need to limit the number of machines per progressive jackpot pool. Having five different progressive pools on one aircraft
would clearly cause problems. Passengers seated on a machine which is linked to a lower progressive jackpot pool would want to move to a seat in which the machine is hooked up to a higher progressive jackpot pool. This would result in the shuffling
around of passengers aboard an aircraft. Needless to say, there will be passengers who will be unwilling to give up their seat, whether or not they are gambling, causing unnecessary animosity between passengers.
If a progressive jackpot on one aircraft is much higher than jackpots on other aircraft, passengers may tend to abandon flights with lower jackpots in favor of flights with higher jackpots, thus causing schedule problems for the airlines.
Therefore, a sharing of jackpot pools is necessary in order to maintain uniform jackpots throughout the fleet.
The principles of the present invention can also be applied to slot machines, twenty-one games and craps games that are also operated as electronic equipment. These machines can be programmed to operate in a pari-mutuel fashion with the house
retaining a predetermined percentage of each wager made.
In view of the inability of traditional electronic gaming devices, such as video poker machines, slot machines, twenty-one games and craps games, to meet legal requirements in most states because the traditional electronic gaming devices are
based on probability for determining profits, it is one of the objects of the present invention to provide a method of playing electronic gaming devices that will satisfy legal restrictions in most states and thus satisfy the legal requirements existent
in a rapidly expanding marketplace.
Also, in view of the inability of traditional live casino table gaming, such as twenty-one games, craps games and baccarat games, to meet legal requirements in most states because the traditional live casino table games are house banked games, it
is one of the objects of the present invention to provide a method of playing live casino table games that will satisfy legal restrictions in most states and thus satisfy the legal requirements existent in a rapidly expanding marketplace.
It is a feature of the present invention to program an electronic gaming device to operate based on a pari-mutuel wagering system so that the amount the player can win is based on the amounts that have been wagered by that player and other
players less a portion set aside for the gaming establishment that is providing the gaming device.
It is a further feature of the present invention to operate a live casino table game based on a pari-mutuel wagering system so that the amount the player can win is based on the amounts that have been wagered by that player and other players less
a portion set aside for the gaming establishment that is providing the gaming device.
It is an advantage of the present invention that the profit to the gaming establishment is predetermined because it is based on a preset portion of each wager that is deducted from the common pari-mutuel pool available to the player for a winning
hand or for redeeming his accrued credits. This will make electronic gaming machines and live casino table gaming legal in those states and jurisdictions that permit pari-mutuel wagering.
Other objects, features and advantages of the present invention will become apparent from a consideration of the following detailed description.
SUMMARY OF THE INVENTION
The present invention is designed specifically to comply with gaming regulations to provide an electronic video poker game, an electronic slot machine, an electronic twenty-one game or an electronic craps game in which the players are competing
against each other to win from a common pool and are not wagering against the house. The present invention is also designed specifically to comply with gaming regulations to provide live casino table games such as twenty-one, craps or baccarat in which
the players are competing against each other to win from a common pool and are not wagering against the house. The house retains an preestablished commission. When a player stops playing his machine or the live table game, he can cash out his accrued
credits or his accrued gaming chips for an amount determined by the value of the common pari-mutuel pool. The present invention also provides for pari-mutuel pools to be distributed to all coin columns in a predetermined manner so as to allow all
participants (not only the ones who play maximum coins) to be able to win a predetermined mathematical proportional share of the pari-mutuel jackpot pool (progressive payouts). The invention also provides for seeding of the pools by the gaming
establishment and for funding of future pools by setting aside into future pools portions of wagers made by current players. In pari-mutuel table games, each live casino table game is funded from the master pari-mutuel pool for the operation of the
individual game. Even though the master pari-mutuel pool is owned by the players, pari-mutuel table games eliminate the feeling of playing against one another, making the gamble less personal, thus resulting in less dissension among the players. Should
any table game become short of credits or chips, the master pool will disperse credits as needed to the respective tables. Should any tables have an excessive amount of credits, these credits will be transferred into the master pari-mutuel pool. All
credits cashed out by the players come out of the master pari-mutuel pool.
BRIEF DESCRIPTION OF THE DRAWINGS
FIG. 1 shows a typical electronic video poker display that appears on the screen of an electronic gaming device programmed to operate in accordance with the method of the present invention.
FIG. 2 shows a block diagram depicting the relationship between the common pool, the progressive pools and the future pools.
FIG. 3 shows a representative pari-mutuel video poker payout schedule in which the pari-mutuel payouts are distributed equally to all coin columns.
FIG. 4 shows another representative pari-mutuel video poker payout schedule.
FIG. 5 shows a representative pari-mutuel multi-level video poker payout schedule with progressive payouts at all levels.
FIG. 6 shows another representative pari-mutuel multi-level video poker payout schedule with progressive payouts at all levels and including six and seven card hands.
FIG. 7 shows a representative pari-mutuel, multi-level, multi-deck video poker lottery-type payout schedule with progressive payouts at all active levels and including six and seven card hands.
FIG. 8 shows a schematic layout of a plurality of game pari-mutuel pools linked to a central casino master pari-mutuel pool.
FIG. 9 shows a schematic layout of a central airline pari-mutuel pool linked to a plurality of separate airplane pari-mutuel pools.
FIG. 10 shows a schematic layout of a central casino master pari-mutuel pool linked to horse or dog race pari-mutuel pool.
FIG. 11 shows a schematic layout of a airport master casino pari-mutuel pool linked to a plurality of airline pari-mutuel pools.
FIG. 12 shows a schematic representation of how a single airplane operating over various states airspace could distribute tax revenues to each of the states.
FIG. 13 shows a schematic representation of a common pari-mutuel pool interconnected to a plurality of individual states or groups of states to generate a interstate pari-mutuel game.
DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS
In order to explain the concepts and features of the present invention, certain terms need to be defined. As used in the present invention, the following terms have the following meanings:
Pari-mutuel Electronic Video Poker Machine:
An electronic video poker machine programmed to register bets in pari-mutuel betting as they are made and to calculate and post the changing odds and final payoffs. This video poker machine can also register and indicate the number of bets made
and the nature of the application of these bets to specific coin columns and payout schedules. All pools are funded by an equal percentage of common funds. This pari-mutuel electronic video poker machine satisfies the definition of pari-mutuel by
nature of its accumulation of monies into common pools which are competed for by all players.
Multi-level Pari-mutuel Electronic Video Poker Machine:
An electronic video poker machine programmed to register bets in pari-mutuel betting as they are made and to calculate and post the changing odds and final payoffs. This video poker machine can also register and indicate the number of bets made
and the nature of the application of these bets to specific coin columns and payout schedules. The coin columns and payout schedules are used in a system in which specific pools are funded more or less independently of other pools but linked by a common
pari-mutuel pool from which all others are funded. Although funding is from a common pool, contributions to various other pools is not equal. Each specific coin column has its own independent pari-mutuel pool. At each level of participation, players
are afforded the opportunity to win all monies accrued in all pools up to and including the one applying to the level of their participation.
Common Pari-mutuel Pool:
A common pari-mutuel pool is established for the disbursement of all payoffs on all levels. This pool is established by the players and belongs to the players. The common pool is the repository for all monies derived from wagering activities of
the players. All payouts are derived from this common pool. Funding for all progressive pools is derived from this common pool. A sufficient level must be maintained in the common pool to provide funds for the payment of all winning bets at levels
other than jackpots. The removal of funds from the common pool for purposes other than the payment of hands from the standard pay table may only be permitted when sufficient funds exist in the common pool to ensure the integrity of the common pool. A
formula can be created to establish the levels at which sufficient funds exist so that money may be properly disbursed from the common pool into other pools.
Positive Common Pari-mutuel Pool:
A positive common pari-mutuel pool exists when the monies deposited as a result of players' wagering activities exceeds the total number of credits outstanding among all participating players.
Negative Common Pari-mutuel Pool:
A negative common pari-mutuel pool exists when the total number of credits outstanding among all participating players exceeds the monies deposited as a result of players' wagering activities.
Pari-mutuel Progressive Pool:
Pari-mutuel progressive pools are pools established for the purpose of creating jackpots for specific pre-designated winning hands. The pari-mutuel progressive pool is created by the deposit of funds from the common pool upon the attainment of a
specified level of money in the common pool. When this level is attained, subsequent monies (or a percentages of the subsequent monies) are then deposited into established pari-mutuel progressive pools according to an established formula. These monies
may be deposited into one or various progressive pools.
Current and Future Pari-mutuel Progressive Pools:
Progressive pools for the payment of designated jackpot hands may, by the nature of losing wagers accumulating more quickly than winning wagers, reach money levels which may allow for the disbursement of excess funds into future pools. This is
effected in order to eliminate the necessity of borrowing from the house to seed the progressive pools in order to maintain desired money levels in the progressive pools. Funding into future pools is done only when money levels in a current pool reaches
a preestablished level. Upon the attainment of this preestablished level, the method of the present invention would automatically transfer funds into future pools in accordance with a predetermined formula.
Pari-mutuel Seed Pools:
Monies for the payment of jackpots may need to be established through the creation of a seed pool. This is generally the case at the outset of any game or series of games when no funds have yet been collected from players' wagering activities.
In order to create an attractive level of payoff for pre-designated winning hands, progressive pools must be established at specific starting dollar amounts. The present invention contemplates the creation of an escrow account, designated as a seed
pool, for the establishment of the specific starting levels of the pools. Monies needed to fund progressive pools at specified levels are borrowed from this seed pool by the common pool in a manner which will continue to maintain the integrity of the
common pool. Repayment of these borrowed funds shall be accomplished automatically and continually. Funds from the common pool should not be allowed to intermingle with seed pool funds. The transfer of funds from one pool to the other shall be only in
the form of a loan which shall be paid back immediately upon the accumulation of sufficient funds in the common pool.
Seeding of Pari-mutuel Video Poker:
Pools are created by wagering activities of competing players. The gaming establishment that provides the machines is not involved in the banking of these games. All monies derived from players' wagers become part of the common pool used for
payouts, with the exception of a prescribed house commission. In order to begin play at a level which enhances and encourages play, the house will sometimes participate in the seeding of a pool on a temporary basis. This is accomplished by simply
placing an amount of money established by the house into a pool in order to have funds available to begin play in a game. These funds are later retrieved by the house, in accordance to a preestablished formula, as money is fed into the common pool by
players' betting activities. After the initial seeding is done by the house, all subsequent funding is accomplished through players' wagering activities. If the nature of payouts is skewed in a manner so as to create a future negative pool situation,
then the house may once again be required to the seed the pools. At all times, a preestablished formula is used to recover all seed monies originally supplied by the house. This is not only desirable but is also necessary in order to maintain a pure
pari-mutuel format.
Master Pari-Mutuel Pool:
A master pari-mutuel pool is established for the disbursement of all payoffs. This pool is established by the players and belongs to the players. The common pool is the repository for all monies derived from wagering activities of the players
on all games. All payouts are derived from this common pool. Funding for all progressive pools is derived from this master pool. A sufficient level must be maintained in the master pool to provide funds for the payment of all winning bets at levels
other than jackpots. The removal of funds from the master pool for purposes other than the payment of winning hands on all games may only be permitted when sufficient funds exist in the master pool to ensure the integrity of the master pool. A formula
can be created to establish the levels at which sufficient funds exist so that money may be properly disbursed from the master pool into other pools.
Table Game Pari-Mutuel Subpool:
In pari-mutuel table games, each casino table game is funded from the table game pari-mutuel subpool for the operation of the individual game, which is a subpool or portion of the master pari-mutuel pool. Even though the table game pari-mutuel
subpool is owned by the players, pari-mutuel table games eliminate the feeling of playing against one another, making the gamble less personal, thus resulting in less dissension among the players. Should any table game become short of credits or chips,
the table game pari-mutuel subpool will disperse credits as needed to the respective tables. Should any tables have an excessive amount of credits, these credits will be transferred into the table game pari-mutuel subpool and from there to the master
pari-mutuel pool. All credits cashed out by the players come out of the table game pari-mutuel subpool or the master pari-mutuel pool, as appropriate.
The table game pari-mutuel subpool of the master pari-mutuel pool can often become highly excessive in funds, mainly due to the fact that there are no large jackpots to be hit on table games. This makes money in the subpool inaccessible to the
players, and since the house has already collected commission from the players, the funds in the subpool remain dormant. It is necessary for the house to create a mechanism which would place the money back into play and make it accessible to the
players. This mechanism would be the sharing of pools between the table game subpools and other pari-mutuel subpools. This allows the master pool to seed other pari-mutuel subpools which have either gone into the negative or require a high jackpot
payout. By transferring funds from the master pool into another pari-mutuel subpool, the stakes in the subpool which received the funds are raised, thus generating more play, which in turn increases commission to the house. Because the house makes
profits based on the wagers made, it is not only management's responsibility to manage the games, but it is also their responsibility to adequately manage the pari-mutuel subpools and the master pari-mutuel pool and to disperse funds to the players in a
manner which will attract more wagering.
In order to minimize house participation after initial seeding, the present invention includes a method by which future pools are funded by current wagering activity. When a predetermined level is reached in any one pool, a percentage of all
subsequent wagers shall be deposited into future pools. This enables current players to benefit from past players in the same manner that future players benefit from current players. This also allows players to leave and enter the game at will without
adversely affecting the pools.
Closing the pool:
Should a gaming establishment determine for any reason that it will be closing the master pari-mutuel pool (or any of the pari-mutuel subpools), a mechanism can be established which will pay out all of the money in the pari-mutuel pool back to
the players. This can be accomplished by having one large jackpot which would pay out the entire remaining balance in the pari-mutuel pool to the winner. Once the jackpot is hit, all of the games associated with the pool being closed are completed, the
players collect whatever existing credits they may have and the remaining balance is paid to the winner of the jackpot. For example, if the master pari-mutuel pool is being closed and the winning jackpot is hit, all electronic video games freeze after
the completion of the current player's hand and all table games and sporting events complete any games in progress. The players then cash in any credits they have on the electronic video games, any gaming chips they have on the table games and any
winning tickets that they have on the sporting events. The remaining balance of the master pari-mutuel pool is then paid to the winner of the jackpot.
The present invention is also applicable to pari-mutuel slot machines of the type in which rotating reels carry symbols, such as fruits and sevens. Various combinations of symbols are preestablished as winning symbols according to predetermined
payout tables. A traditional slot machine is set by placing different symbols on at least three different reels. The number of corresponding symbols for each reel are established by a probability chart for the aligning of like symbols in a row. The
probability chart, in conjunction with the randomness of the reels, establishes the payout schedule and the percentage the house should win. The house banks the traditional slot machine and accepts wagers by the players. The house sets the odds in its
favor, at any desired level which may be permitted by the gaming regulators and the house relies on the laws of probability for its profits.
In the present invention, a pari-mutuel slot machine is provided with established progressive pools for specific payoffs. A pool for specific payoffs is seeded by the house and the amount of this jackpot is posted in conjunction with the slot
machine. Money that has been wagered by the players is deposited into a common pool during the course of play with a specified house commission subtracted. Payoffs are made from this common pool for all winners except jackpot winners. As monies are
accrued in this common pool from losing wagers, any monies above an established level, minus the house commission, are deposited into the pari-mutuel jackpot pool. The integrity of the common pool is maintained in order to supply monies for the payment
of winners and all excesses are directed into the progressive jackpot pool. The house receives its established commission from each coin played but does not participate in the wagering. In effect, all monies beyond the established percentage to the
house are available for distribution to the players.
Because symbols are still placed on each respective reel, the winners are determined according to the laws of probability. But the amount of profit to the house is not determined by the laws of probability because the house takes a predetermined
percentage of each wager. Rather the laws of probability merely affect | | |
