Systems, devices and methods for electronic sports book wagering with a wager sell back option

An electronic sports book wagering system, comprising:

• at least one processor;
• at least one processor-readable memory that stores instructions executable by the at least one processor to cause the at least one processor to:
• receive an indication that a bettor has placed a wager for a bet regarding an outcome of an event;
• receive an indication that the bettor has selected an option to be exercised at will by the bettor during a break in play or an indicated period for the bettor to potentially receive compensation to cancel the wager;
• generate a ticket for the bettor indicative of the wager associated with the option;
• during the break in play or the indicated period, receive an indication that the bettor is exercising the option;
• in response to the received indication that the bettor is exercising the option, determine an amount to refund to the bettor, wherein the determining the amount to refund to the bettor includes:
• determining a current probability at the break in play or the indicated period of whether the bettor will win the bet for which the wager was made based on historical data regarding outcomes of previous events of a same type as the event;
• multiplying the determined current probability by an amount that would be paid to the bettor if the bettor were to win the bet to obtain a bettor refund amount factor;
• and
• determining the amount to refund to the bettor based on the bettor refund amount factor;
• initiate a disbursement of the amount to refund to the bettor;
• and
• cancel the wager.

A non-transitory computer-readable medium that stores instructions that when executed by at least one computer system cause the at least one computer system to:

• receive, during a break in play or an indicated period, an indication that a bettor is exercising an option for the bettor to potentially receive compensation to cancel a wager previously placed by the bettor on an outcome of an event;
• in response to the received indication that the bettor is exercising the option, determine an amount to refund to the bettor, wherein the determining the amount to refund to the bettor includes:
• determining a number reflecting a current probability at the break in play or indicated period of whether the bettor will win the bet for which the wager was made;
• to obtaining a bettor refund amount factor, multiply the number reflecting the current probability by an amount that would be paid to the bettor if the bettor were to win the bet;
• and
• subtracting a determined amount from the bettor refund amount factor in determining the amount to refund to the bettor;
• initiate a disbursement of the amount to refund to the bettor;
• and
• cancel the wager.