Method of using a random number supplier for the purpose of redu

Details Method of using a random number supplier for the purpose of redu Method of using a random number supplier for the purpose of redu

1990-11-07

1992-02-04

Layno, Benjamin

Amusement devices: games

Chance devices

Electric or magnetic

273138R, 273460, 364412, 364405, 902 23, A63F 900, G06F 1528

Patent

active

050854356

ABSTRACT:
Disclosed is the use of a Random Number Supplier to execute bets in an Expected Value Payment Method for the purpose of reducing the expected per unit costs incurred in paying and/or receiving a given amount of a commodity. An expected Value Payment Method uses bets to reduce expected per unit costs in two ways.
First, expected per unit costs can be reduced for the payer and/or receiver of a commodity by giving the receiver a chance to win a greater amount of the commodity than a given amount, the greater amount having a lower per unit cost than the given amount which was originally to be paid and received. Second, in special situations, certain businesses can offer customers who bet to win a given amount of a commodity a better expected price for that amount than the price offered to customers paying conventionally for that same amount.
Also disclosed are Expected Value Payment Execution Systems that make an Expected Value Payment Method practical by preventing cheating in Expected Value Payment bets.

REFERENCES:
patent: 3770269 (1973-11-01), Elder
patent: 3852576 (1974-12-01), Rudd
patent: 4206920 (1980-06-01), Weatherford
patent: 4815741 (1989-03-01), Small
patent: 4854590 (1989-08-01), Jolliff
patent: 4948134 (1990-08-01), Suttle et al.

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