An interactive wagering system for legalized gambling and adapted to increase a speed and an accuracy of the interactive wagering system, the system comprising:
- one or more databases;
- one or more application program interfaces (APIs);
- and
- one or more system controllers operatively coupled to a communications interface, the one or more system controllers further coupled via the communications interface to a plurality of input devices and a plurality of third-party systems, the one or more system controllers configured to:
- receive, via the communications interface, a plurality of wagers on one or more wagering events from the plurality of input devices, each with a respective user interface among user interfaces configured to receive participant input corresponding to the plurality of wagers,
- store, within the one or more databases, the plurality of wagers and wager information in a record, the wager information comprising one or more of a number of all active wagers on the one or more wagering events, a total value of all the active wagers, individual values of the active wagers, a probability of success of each of the active wagers based on, at least, a progress of the one or more wagering events, and potential profits and losses based on the probability of success of each of the active wagers,
- monitor a progress of the one or more wagering events in real time, the monitoring comprising continuously exchanging, via the one or more APIs, data with the plurality of third-party systems in real time, the data related to, at least, the progress of the one or more wagering events,
- continuously update, in real time, the wager information based on the data,
- continuously evaluate, in real time, the updated wager information, determine that one or more wagers of the plurality of wagers are eligible to win at least a portion of an award,
- generate one or more options, in real time, for one or more participants associated with the one or more wagers to terminate the one or more wagers prior to a conclusion of the one or more wagering events for at least the portion of the award, the one or more options based on the continuous evaluation of the updated wager information and consistent among the one or more participants regardless of type of device, user interface, and geographical areas, wherein an amount of the award is based on at least a calculated probability of the one or more wagers of the one or more participants winning the one or more wagering events, and
- transmit, via the communications interface, the one or more options to one or more input devices of the plurality of input devices associated with the one or more participants, thereby causing a change in the respective user interfaces of the one or more input devices, such that the one or more options to terminate the one or more wagers are presented to the one or more participants via at least one of the respective user interfaces, wherein the one or more options to terminate display interactive graphics for the one or more participants to accept the one or more options,
- wherein the one or more options to terminate being generated and presented via the user interfaces to the one or more participants after an entitlement to receive an option to terminate is determined, occurring at any time after the plurality of wagers have been received up until the conclusion of the one or more wagering events, and having a cash value that is dynamically updated based on the updated wager information, the cash value is calculated by the interactive wagering system substantially coinciding with an actual progress of the one or more wagering events,
- wherein the one or more system controllers, by a combination of said continuously exchange of the data, said continuously update and said continuously evaluate in real time causes the plurality of input devices to indicate updates to a progress of the one or more wagering events that are of interest to the one or more participants in real time, so that each participant may monitor a changing status of a respective one of the one or more wagering events substantially simultaneously with the actual progress of the respective one of the one or more wagering events occurring, thereby improving the speed and accuracy of both the actual progress presented to and monitored by each user and the amount of the award calculated by the one or more system controllers and presented to each participant, and
- whereby the monitoring of the progress of the one or more wagering events coupled with an ability to view and accept the one or more options to terminate operates to increase participant interest and facilitate participant engagement and retainment with an operator, whereby any participants that remain in interactive engagement with the operator after a start of the respective one or more wagering events have been received and up until the conclusion of the one or more wagering events have an opportunity to monitor a status of a participant's position, identify where based on a participant's own subjective criteria there is a desire to change a level of participation, thereby providing an interactive system that is dynamic and able to accommodate a broad range of participants that may each have independent views, interest levels and objectives in participation.