US Patent 11651655 System and method for pari-mutuel gaming

An improved gaming system comprising at least one gaming machine and a central controller. The gaming machine may conduct wagering on an event or set of events for a player, conducting a wager including receiving a wager value and a predicted ranking from the player and transmitting the wager to the central controller. The central controller accessing a database to automatically retrieve data about one or more events that occurred in the past and included multiple participants for creating a plurality of binary scorecards. The central controller matching the predicted ranking to a scorecard and determining a reward value based on an award level of the scorecard and tier levels of a pari-mutuel pool.