System and method for betting on a subset of participants in an event wherein betting parameters may change over time

摘要

602822 A method of managing bets where betting parameters are defined after betting has closed is disclosed. , a group bet comprising a bet that one of a subset of the set of participants will win the event is received at a computer of a computer betting system. The subset of participants comprises more than one but less than all of the set of participants and the bet specifying a characteristic by which the subset will be determined after the bet is placed. The characteristic depends on information that is not available at the time the bet in placed. The information on which the characteristic depends is received at the computer and the subset of participants on which the bet is placed based on the characteristic is computed. Results of the event identifying a participant that won the event are received at the computer and an amount of a payout for the group bet based at least on whether the subset of participants includes the participant that won the event is computed.