| CPC G07F 17/3258 (2013.01) [A63F 13/00 (2013.01); G06Q 50/34 (2013.01); G07F 17/32 (2013.01); G07F 17/323 (2013.01); G07F 17/3244 (2013.01); G07F 17/3246 (2013.01); G07F 17/3248 (2013.01); G07F 17/3255 (2013.01); G07F 17/3276 (2013.01); G07F 17/3288 (2013.01); G07F 17/3293 (2013.01); G07F 17/34 (2013.01)] | 19 Claims |

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1. An interactive wagering system for legalized gambling to increase engagement with and retention of a plurality of wagering participants using the interactive wagering system, the system comprising:
a database, an application program interface (API); and
a system controller operatively coupled to a communications interface, the system controller further coupled via the communications interface to two or more input devices and a plurality of third-party systems, the system controller configured to:
receive, via the communications interface, two or more wagers each wager including at least one bet on a wagering event, wherein the wagering event comprises an entire event, a partial event, a component of an event, multiple independent events occurring sequentially or concurrently, or a compilation or sequence of related events, wherein the entire event, the partial event, the component of an event, the multiple independent events occurring sequentially or concurrently, and the compilation or sequence of related events consists of a sporting event or racing event, from the two or more input devices located in a plurality of geographical areas, the two or more input devices comprising a plurality of different types of devices, each with a different user interface among user interfaces configured to receive user input corresponding to the two or more wagers, store, within the database, the two or more wagers and wager information, the wager information comprising two or more of a number of all active wagers on the wagering event, 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 wagering event, and potential profits and losses based on the probability of success of each of the active wagers,
periodically receive, via the API, data from the plurality of third-party systems during the active progression of the wagering event,
periodically recalculate and update, during the active progression of the wagering event, the wager information based on the received data, periodically evaluate, during the active progression of the wagering event, the updated wager information,
determine that at least two wagers of the two or more wagers are entitled to an award based at least on the active progression of the wagering event and the wager information,
generate two or more at least partial cash out offer options, during the active progression of the wagering event, for at least two wagering participants of the plurality of wagering participants associated with the two or more wagers prior to a conclusion of the wagering event for at least a portion of the award, the two or more at least partial cash out offer options are based on the periodic evaluation of the updated wager information, and transmit, via the communications interface, the two or more at least partial cash out offer options to a plurality of the at least two input devices associated with the plurality of wagering participants, thereby causing a change in the respective user interfaces of the at least two input devices,
such that the two or more at least partial cash out offer options are presented to the at least two wagering participants of the plurality of wagering participants via the plurality of respective user interfaces, and
wherein the two or more at least partial cash out offer options to perform an at least partial cash out action being generated and presented via the plurality of the user interfaces to the at least two wagering participants after an entitlement to receive the at least partial cash out offer option is determined, occurring during a time period from the initial two or more wagers until the conclusion of the wagering event and having a cash value that is periodically recalculated and updated based on the updated wager information.
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