Pari-mutuel interleaved wagering system

1. A method of operating a gaming system stored on a non-transitory machine-readable storage medium and having a credit meter, comprising:

receiving by the gaming system from a player an input of real world credit;

generating by the gaming system wager options based on a pari-mutuel wagering event;

providing by the gaming system a display screen configured to display a player interface that depicts the wager options using a thematic representation of the pari-mutuel wagering event;

receiving by the gaming system a player's input;

determining selection of a wager option based on the player's input;

determining by the gaming system a payout of real world credits using a pari-mutuel wagering event and the selected wager option;

updating by the gaming system the player interface display to incorporate the payout of real world credits within the thematic representation of the pari-mutuel wagering event; and

distributing, by the gaming system, the payout of real world credits to the credit meter.

2. The method of claim 1 , further comprising:

using an abstraction module to generate the thematic representation of the pari-mutuel wagering event.

3. The method of claim 1 , further comprising:

providing an individual graphical element for each of the wager options.

4. The method of claim 1 , further comprising:

providing an interactive application using the thematic representation of the pari-mutuel wagering event.

5. The method of claim 4 , wherein the player's selection for the placement of the wager is based on an input into the interactive application.