System and Method for Generating a Rebate for an Electronic Commerce Transaction

A method for generating a rebate for an online purchase of at least one item by a user, comprising:

• receiving by a host device operated by a host and having a host website login data from a user operating a user device, said host device being in communication with at least said user device and at least one third-party odds provider via a wide area network (WAN);
• receiving from said user a request to purchase at least one item from said host website, wherein a payment method provided by said user is subsequently used to pay a purchase price associated with said at least one item;
• receiving by said host device odds from said at least one third-party odds provider, wherein said odds are associated with a plurality of events and are used by said host device to generate a plurality of rebates for said user, with each one of said plurality of rebates having a dollar amount that is equal to or less than said purchase price, associated with a prediction on one of said plurality of events, and activated only when said prediction is accurate;
• providing by said host device said plurality of rebates to said user and allowing said user to make a prediction on an event associated with one of said plurality of rebates;
• receiving by said host device an outcome of said event associated with said one of said plurality of rebates from said at least one third-party odds provider, said outcome being used to determine whether said user's prediction is accurate;
• activating said one of said plurality of rebates in response to said user's prediction being accurate, said accurate prediction resulting in a corresponding dollar amount being credited to said user;
• and
• providing an electronic message to said user in response to said user's prediction being accurate, said electric message indicating that said one of said plurality of rebates is not available for said purchase.

A system for generating a rebate for an online purchase of at least one item by a user, comprising:

• a host device in communication with at least a user device and at least one third-party odds provider via a wide area network (WAN), said host device comprising a host website and at least one memory device for storing machine readable instructions adapted to perform the steps of:
• allowing said user to select and purchase at least one item on said host website, wherein a payment method provided by said user is used to pay at least a purchase price for said at least one item;
• requesting from said at least one third-party odds provider odds associated with a plurality of events and using at least a portion of said odds to generate a plurality of rebates for said user, with each one of said plurality of rebates having a dollar amount that is equal to or less than said purchase price, associated with a prediction on at least one of said plurality of events, and activated only when said prediction is correct;
• providing said plurality of rebates to said user and allowing said user to make a prediction on at least one event associated therewith;
• and
• requesting from said at least one third-party odds provider a result of said prediction, activating a corresponding one of said plurality of rebates in response to said prediction being correct, said correct prediction resulting in a corresponding dollar amount being credited to said user, and providing an electronic message to said user in response to said user's prediction being not correct, said electronic message indicating that said corresponding one of said plurality of rebates is not active.