A method for enhancing user engagement in a networked raffle system, the method comprising:
- receiving, from an asset owner, asset information for an asset, the asset information including a minimum selling price expressed in raffle tokens and a maximum listing duration for an initial raffle of the asset;
- providing, to one or more consumers, a representation of the asset via a user interface, the representation including information based on the asset information, wherein the user interface provides an indication of a sell-back option comprising an offer to pay a raffle winner a predetermined amount of money in lieu of transferring ownership of the asset;
- issuing, to the one or more consumers, a plurality of raffle tokens each having a predefined monetary value of one United States dollar;
- receiving, from at least one consumer, an asset selection comprising an indication of the asset and a pledged amount of the raffle tokens for entry into the initial raffle;
- in response to receiving the asset selection from the at least one consumer, automatically calculating, by one or more processors of a computing system, odds of the at least one consumer winning the initial raffle, the odds being based on the pledged amount of raffle tokens by the at least one consumer relative to aggregate pledged raffle tokens for the asset, and dynamically updating, in real time, a user interface display to present the calculated odds to the at least one consumer, wherein the user interface display recalculates and updates the odds after each time any consumer pledges additional raffle tokens for the asset;
- and
- in response to a value of aggregate pledged raffle tokens for the asset satisfying the minimum selling price during the maximum listing duration:
- determining a raffle winner by probabilistically selecting one of the pledged raffle tokens from the aggregate pledged raffle tokens;
- determining a consumer associated with the selected raffle token;
- providing a first notification to the consumer associated with the selected raffle token, the first notification comprising an offer to transfer ownership of the asset to the consumer;
- providing a second notification to the consumer associated with the selected raffle token, the second notification comprising an offer to pay the consumer the predetermined amount of money of the sell-back option in lieu of transferring ownership of the asset;
- and
- in response to the consumer accepting the offer of the second notification:
- paying the predetermined amount of money to the consumer;
- and automatically relisting the asset for a subsequent raffle having a further listing duration, wherein relisting the asset comprises adjusting values of one or more parameters of the subsequent raffle to be different than corresponding parameter values of the initial raffle.