Gaming Management System for Monetization via Wagering API
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Solution Overview
Problem
Current methods for monetizing gaming applications are inadequate, as they often rely on in-game advertising, paid access, or low-revenue models, with developers facing challenges in persuading users to pay for applications and achieving high customer lifetime value and average revenue per user.
Innovation Solution
A gaming management system that allows users to place monetary wagers or bets within applications, eliminating the need for developers to obtain gambling licenses by using a facilitating entity with existing licenses, ensuring compliance with regulations and handling financial transactions, thus enabling the incorporation of monetary wagers or bets into third-party applications.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If developers incorporate in-game advertising to monetize applications, then revenue generation is improved, but user experience deteriorates and users may be driven away
Solution Approach 1:
The patent introduces a facilitating entity as an intermediary that provides gambling functionality through a service layer, allowing developers to offer wagering features without directly handling financial transactions or obtaining gambling licenses. This intermediary approach enables revenue generation through gambling while maintaining developer simplicity and avoiding direct regulatory burden
2Productivity
If developers charge users for access to the application code, then revenue per user is improved, but user acquisition deteriorates due to difficulty in persuading users to pay before playing
Solution Approach 1:
The patent enables developers to provide free initial access to gaming applications with the option to purchase virtual goods and levels after users have begun playing. This preliminary free access strategy allows users to experience the game before committing to payment, significantly improving user acquisition while still generating revenue through in-game purchases
3Ease of operation
If developers provide free access to gaming applications initially, then user acquisition is improved, but average customer lifetime value and average revenue per user deteriorate due to low free-to-paid conversion
Solution Approach 1:
The facilitating entity acts as an intermediary that manages the gambling functionality and financial transactions, allowing developers to focus on user acquisition through free access while the system handles the monetization through virtual goods and wagering features that increase customer lifetime value
4Productivity
If developers incorporate gambling functionality directly into applications, then revenue potential is improved, but regulatory compliance complexity increases due to licensing requirements
Solution Approach 1:
The patent employs a facilitating entity as an intermediary that holds the gambling licenses and manages regulatory compliance, while developers simply integrate the gambling functionality through a standardized API. This approach enables developers to access high-revenue gambling features without bearing the complexity of obtaining and maintaining gambling licenses or ensuring regulatory compliance
Data Source
AI summary
Various example embodiments are directed to a computer-implemented gaming management system for facilitating applications that support user wagering. The gaming management system may comprise a computer system in communication with a developer computer device. The computer system may be programmed to receive from the developer computer device configuration data for a contingent event to be associated with a user application; determine whether the configuration data meets at least one predetermined standard; and provided that the configuration data meets the at least one predetermined standard, provide the developer computer device with an application program interface (API) credential to be utilized by the user application, wherein the API credential is to give the user application access to an API for resolving the contingent event.