Donation-Based Wager Incentive System for Booking Entities
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Solution Overview
Problem
Booking entities face challenges in competitively incentivizing wagerers to place wagers, as existing methods rely on manipulating betting odds, which can be influenced by irrelevant factors and do not effectively utilize donations to affinity entities.
Innovation Solution
Implementing a system where booking entities make donations to affinity entities selected by wagerers upon winning wagers, with the donation amount derived from the wagered amount, probability of winning, and predetermined thresholds, ensuring transparency and community involvement.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If booking entities manipulate betting odds to incentivize wagers, then wagerer engagement improves, but the system becomes influenced by irrelevant factors and loses transparency
Solution Approach 1:
The patent introduces an intermediary mechanism (donation to affinity entity) that mediates between the booking entity and the wagerer. Instead of directly manipulating odds, the booking entity offers a charitable donation as an incentive, which is transparent and independent of irrelevant factors. This intermediary approach resolves the contradiction by maintaining transparency while still achieving wagerer engagement.
2Adaptability or versatility
If booking entities offer favorable betting odds to compete for wagers, then wagerer attraction improves, but the complexity of managing odds and juice increases
Solution Approach 1:
The patent changes the incentive parameter from betting odds to charitable donation amount. Instead of adjusting odds and managing juice calculations, the booking entity simply varies the donation amount to the affinity entity. This parameter change simplifies the system while maintaining competitiveness in attracting wagers.
3Duration of action of stationary object
If booking entities use loyalty programs to incent wagers, then wagerer retention improves, but the system requires complex tracking and management infrastructure
Solution Approach 1:
The patent implements a self-service mechanism where the wagerer automatically receives the charitable donation incentive upon placing a wager, without requiring complex loyalty program tracking. The system uses the wager placement itself as the trigger for the incentive, eliminating the need for elaborate tracking infrastructure while maintaining long-term wagerer retention.
Data Source
AI summary
If a wagerer places a wager with a booking entity and if the possible outcome actually occurs such that the wagerer wins the wager, and if the possible outcome actually occurred at a time when the probability of the possible outcome actually occurring as set by the booking entity did not exceed a predetermined winning odds threshold, then the booking entity makes a donation to an affinity entity selected by the wagerer, where the donation is an amount derived using a currency amount of the wager, and at least one of the probability of the outcome actually occurring at the time when the outcome actually occurred and the predetermined winning odds threshold.