U.S. patent application number 11/439837 was filed with the patent office on 2006-09-21 for method for completing an electronic commerce transaction based on a virtual coin flip.
Invention is credited to Fernando Pimienta, Hugo Pimienta.
Application Number | 20060211482 11/439837 |
Document ID | / |
Family ID | 37865501 |
Filed Date | 2006-09-21 |
United States Patent
Application |
20060211482 |
Kind Code |
A1 |
Pimienta; Fernando ; et
al. |
September 21, 2006 |
Method for completing an electronic commerce transaction based on a
virtual coin flip
Abstract
Methods for completing an electronic commerce transaction based
on at least one virtual coin flip. Users of electronic commerce
place items for purchase in shopping carts and provide payment
information, they may pay for or possibly wager for the items with
coin flip(s). In cases where the where a user properly predicts
correct coin flip result(s), the user receives items without
charge. If not, the user pays for the items (or a portion of the
items if more than one coin flip prediction is made). A user may
challenge another user during checkout and wager the cost of one
shopping basket against the other. A wagering fee may deducted by a
third party during the transaction. The third party, which may be a
different entity than the shopping entity may be awarded a
commission by the shopping entity that equals a percentage of the
items wagered on.
Inventors: |
Pimienta; Fernando; (Los
Angeles, CA) ; Pimienta; Hugo; (Los Angeles,
CA) |
Correspondence
Address: |
DALINA LAW GROUP, P.C.
7910 IVANHOE AVE. #325
LA JOLLA
CA
92037
US
|
Family ID: |
37865501 |
Appl. No.: |
11/439837 |
Filed: |
May 23, 2006 |
Related U.S. Patent Documents
|
|
|
|
|
|
Application
Number |
Filing Date |
Patent Number |
|
|
10055805 |
Jan 22, 2002 |
|
|
|
11439837 |
May 23, 2006 |
|
|
|
10055805 |
Jan 22, 2002 |
|
|
|
11439837 |
May 23, 2006 |
|
|
|
60717078 |
Sep 14, 2005 |
|
|
|
60263396 |
Jan 22, 2001 |
|
|
|
Current U.S.
Class: |
463/16 |
Current CPC
Class: |
G06Q 20/12 20130101;
G06Q 30/0603 20130101; G06Q 30/02 20130101; G06Q 50/34 20130101;
G07F 17/3286 20130101; G06Q 20/22 20130101; G07F 17/32
20130101 |
Class at
Publication: |
463/016 |
International
Class: |
A63F 9/24 20060101
A63F009/24 |
Claims
1. A method for completing an electronic commerce transaction based
on a virtual coin flip comprising: presenting at least one product
to a user wherein said at least one product is displayed on a
computing device associated with said user; obtaining a product
selection from said user wherein said product selection comprises a
product selected from said at least one product; obtaining a
monetary input from said user associated with said product
selection; obtaining an input from said user wherein said input
comprises a prediction of a coin flip; executing a random number
generator configured to output a coin flip result; presenting a
virtual coin flip animation wherein said virtual coin flip informs
said user of said coin flip result; providing said product
selection to said user to said user if said prediction of said coin
flip equals said coin flip result; and, withholding said product
selection to said user and further comprising charging said
monetary input to said user if said prediction of said coin flip
does not equal said coin flip result.
2. The method of claim 1 wherein said user obtains said product
selection and is charged said monetary input if said prediction of
said coin flip equals said result.
3. The method of claim 1 wherein said coin flip animation further
comprises sound of said coin flip including coin rotational sound
of said coin flip through air.
4. The method of claim 1 wherein said coin flip animation further
comprises sound of said coin flip including ringing when said coin
bounces.
5. The method of claim 1 wherein said prediction of said coin flip
further comprises a plurality of predictions of a plurality of coin
flips and wherein said monetary input is inversely related to a
number of coin flips and proportionally related to a price
associated with said product selection.
6. The method of claim 1 further comprising: presenting a second at
least one product to a second user wherein said second at least one
product is displayed on a second computing device associated with
said second user; obtaining a second product selection from said
second user wherein said second product selection comprises a
second product selected from said second at least one product;
obtaining a second monetary input from said second user associated
with said second product selection; presenting an invitation from
said user to said second user to wager on said coin flip;
presenting said virtual coin flip animation wherein said virtual
coin flip informs said second user of said coin flip result;
providing said second product selection to said second user if said
prediction of said coin flip by said user does not equal said coin
flip result; and, withholding said second product selection to said
second user and further comprising charging said second monetary
input to said second user if said prediction of said coin flip by
said user equals said coin flip result.
7. The method of claim 6 wherein said second user obtains said
second product selection and is charged said secondary monetary
input if said prediction of said coin flip does not equal said
result.
8. The method of claim 6 wherein said monetary input becomes
associated with said second user and said second monetary input
becomes associated with said user.
9. The method of claim 6 wherein said presenting said invitation
from said user to said second user occurs if said monetary input
and said second monetary input are within a predetermined
range.
10. A method for completing an electronic commerce transaction
based on a virtual coin flip comprising: presenting at least one
product to a user wherein said at least one product is displayed on
a computing device associated with said user; obtaining a product
selection from said user wherein said product selection comprises a
product selected from said at least one product; obtaining a
monetary input from said user associated with said product
selection; obtaining an input from said user wherein said input
comprises a prediction of a coin flip; executing a random number
generator configured to output a coin flip result; presenting a
virtual coin flip animation with sound wherein said virtual coin
flip informs said user of said coin flip result; providing said
product selection to said user if said prediction of said coin flip
equals said coin flip result; and, withholding said product
selection to said user and further comprising charging said
monetary input to said user if said prediction of said coin flip
does not equal said coin flip result.
11. The method of claim 10 wherein said user obtains said product
selection and is charged said monetary input if said prediction of
said coin flip equals said result.
12. The method of claim 10 wherein said coin flip animation further
comprises sound of said coin flip including coin rotational sound
of said coin flip through air or including ringing when said coin
bounces or both rotational sound and ringing.
13. The method of claim 10 wherein said prediction of said coin
flip further comprises a plurality of predictions of a plurality of
coin flips and wherein said monetary input is inversely related to
a number of coin flips and proportionally related to a price
associated with said product selection.
14. The method of claim 10 further comprising: presenting a second
at least one product to a second user wherein said second at least
one product is displayed on a second computing device associated
with said second user; obtaining a second product selection from
said second user wherein said second product selection comprises a
second product selected from said second at least one product;
obtaining a second monetary input from said second user associated
with said second product selection; presenting an invitation from
said user to said second user to wager on said coin flip;
presenting said virtual coin flip animation with sound wherein said
virtual coin flip informs said second user of said coin flip
result; providing said second product selection to said second user
if said prediction of said coin flip by said user does not equal
said coin flip result; and, withholding said second product
selection to said second user and further comprising charging said
second monetary input to said second user if said prediction of
said coin flip by said user equals said coin flip result.
15. The method of claim 14 wherein said second user obtains said
second product selection and is charged said secondary monetary
input if said prediction of said coin flip does not equal said
result.
16. The method of claim 14 wherein said monetary input becomes
associated with said second user and said second monetary input
becomes associated with said user.
17. The method of claim 14 wherein said presenting said invitation
from said user to said second user occurs if said monetary input
and said second monetary input are within a predetermined
range.
18. A method for completing an electronic commerce transaction
based on a virtual coin flip comprising: presenting at least one
product to a user wherein said at least one product is displayed on
a computing device associated with said user; presenting a second
at least one product to a second user wherein said second at least
one product is displayed on a second computing device associated
with said second user; obtaining a product selection from said user
wherein said product selection comprises a product selected from
said at least one product; obtaining a second product selection
from said second user wherein said second product selection
comprises a second product selected from said second at least one
product; obtaining a monetary input from said user associated with
said product selection; obtaining a second monetary input from said
second user associated with said second product selection;
presenting an invitation from said user to said second user to
wager on said coin flip; obtaining an input from said user wherein
said input comprises a prediction of a coin flip; executing a
random number generator configured to output a coin flip result;
presenting a virtual coin flip animation with sound wherein said
virtual coin flip informs said user of said coin flip result;
presenting said virtual coin flip animation with sound wherein said
virtual coin flip informs said second user of said coin flip
result; providing said product selection to said user without
charging said monetary input to said user if said prediction of
said coin flip equals said coin flip result; withholding said
product selection to said user and further comprising charging said
monetary input to said user if said prediction of said coin flip
does not equal said coin flip result; providing said second product
selection to said second user without charging said second monetary
input to said second user if said prediction of said coin flip by
said user does not equal said coin flip result; and, withholding
said second product selection to said second user and further
comprising charging said second monetary input to said second user
if said prediction of said coin flip by said user equals said coin
flip result.
19. The method of claim 18 wherein said user obtains said product
selection and is charged said monetary input if said prediction of
said coin flip equals said result.
20. The method of claim 18 wherein said second user obtains said
second product selection and is charged said secondary monetary
input if said prediction of said coin flip does not equal said
result.
21. The method of claim 18 wherein said coin flip animation further
comprises sound of said coin flip including ringing when said coin
bounces.
22. The method of claim 18 wherein said monetary input becomes
associated with said second user and said second monetary input
becomes associated with said user.
23. The method of claim 18 wherein said presenting said invitation
from said user to said second user occurs if said monetary input
and said second monetary input are within a predetermined
range.
24. The method of claim 18 wherein said prediction of said coin
flip further comprises a plurality of predictions of a plurality of
coin flips and wherein said monetary input is inversely related to
a number of coin flips and proportionally related to a price
associated with said product selection.
Description
[0001] This application claims benefit from U.S. Provisional Patent
Application Ser. No. 60/717,078 filed Sep. 14, 2005 entitled,
"METHOD FOR COMPLETING AN ELECTRONIC COMMERCE TRANSACTION BASED ON
A VIRTUAL COIN FLIP" the specification of which is hereby
incorporated herein by reference. This application is a
continuation in part of United States Utility patent application
Ser. No. 10/055,805, filed Jan. 22, 2002 entitled "METHOD AND
APPARATUS FOR WAGERING ON A RANDOM CHANCE EVENT" which claims
benefit of U.S. Provisional Application Ser. No. 60/263,396 filed
Jan. 22, 2001 entitled "METHOD AND APPARATUS FOR WAGERING ON A
RANDOM CHANCE EVENT", the specifications of which are hereby
incorporated herein by reference.
BACKGROUND OF THE INVENTION
[0002] 1. Field of the Invention
[0003] Embodiments of the invention described herein pertain to the
field of electronic transactions and system for earning revenue
from participants willing to wager on a predicted result. More
particularly, but not by way of limitation, one or more embodiments
of the invention enable methods for completing an electronic
commerce transaction based on a virtual coin flip.
[0004] 2. Description of the Related Art
[0005] Known electronic commerce products do not comprise a method
of completing a transaction based on a virtual coin flip. For
example, there are no known products that allow a user to place
items in a shopping cart and wager all or nothing on a virtual coin
flip in order to win the items or lose the purchase price or a
power of two thereof the items. In addition, there are no known
apparatus that allow for two or more users to wager against each
other on a coin flip to determine which user pays double or which
user obtains their items for free.
[0006] United States Patent Application No. 20030054888 pending in
the name of inventor Jay Walker and entitled "Method and system to
incorporate game play into product transactions" is directed to a
method for providing a product in which a selection of a product is
received from a customer, a game is selected by the customer, the
customer provides his credit card number, the customer plays the
game and an outcome is determined. If the customer wins, the credit
card is charged a game fee. If the customer loses, the credit card
is charged the price of the product.
[0007] United States Patent Application No. 20040140352 pending in
the name of inventor Jay Walker and entitled "Game presentation in
a retail establishment" is directed to a game presentation such as
a virtual slot machine is displayed by a display device associated
with a point of sale (POS) terminal. The game presentation includes
images of products for which product identifying codes are entered
at the POS terminal. The game presentation indicates to a customer
an outcome of a random process pursuant to which the customer may
be awarded a benefit such as a free product, a discount on a
product selected for purchase, a coupon or an upsell offer.
[0008] United States Patent Application No. 20010044787 pending in
the name of inventor Shwartz, et al. and entitled "Secure private
agent for electronic transactions." Is directed to a computer
implemented technique for facilitating secure electronic
transactions anonymously is presented, wherein a secure private
agent establishes a client relationship with a consumer, and
mediates communication between the consumer and electronic commerce
sites. The secure private agent substitutes internally generated
identifiers for personal details of the consumer, completes details
of the transaction on behalf of the consumer, authorizes payment,
and guarantees the credit of the consumer to the electronic
commerce site or a payment processing agent. The secure private
agent concurrently monitors internet browsing activity of the
consumer and provides its services on demand, or automatically in
background mode. While the preferred embodiments are disclosed with
reference to credit card transactions, this invention is not
restricted to use with credit cards, and is applicable to many
forms of transactions which could be completed electronically, for
example, auctions, gambling, and anonymous e-mail services.
[0009] U.S. Pat. No. 6,442,843 issued to Walker, et al. on Sep. 3,
2002, entitled "System to provide game play for products" is
directed towards a method for providing a product in which a
selection of a product is received from a customer, a fee to play a
game is received, an outcome of the game is determined, the product
is provided to the customer if the outcome is a winning outcome,
and a portion of the fee is credited to the customer if the outcome
is a losing outcome.
[0010] U.S. Pat. No. 6,785,661 issued Aug. 31, 2004 and U.S. Pat.
No. 5,732,400 issued on Mar. 24, 1998, both to Mandler, both
entitled "System and method for a risk-based purchase of goods" are
directed to a system and method provides for enabling on-line
transactional services among sellers and buyers having no previous
relationship with each other. The system includes a financial
clearinghouse for receiving a request for goods or services from a
buyer and making a real-time determination of a risk classification
of the buyer utilizing an on-line repository of credit information.
The financial clearinghouse determines a risk-based discount fee as
a function of the buyer's risk classification in order to establish
a payment amount to the seller from the clearinghouse. If the
transaction is authorized by the financial clearinghouse, the
financial clearinghouse transmits the payment amount to the seller
and transmits an invoice to the buyer for the purchase price of the
transaction. The system can also include a broker coupled to the
financial clearinghouse for providing an on-line order acceptance
and processing capability between the buyers and sellers.
[0011] U.S. Pat. No. 4,869,500 issued on Sep. 26, 1989 to Williams,
entitled "combination vending machine and amusement game" is
directed to a vending machine combined with a separate or integral
skill game machine where the combination is arranged so that a user
can choose to use the combination in a vend mode or in a "playvend"
mode, in which latter mode the player pits his physical and/or
mental skill against the skill machine and if successful is
rewarded by a free or a reduced cost vend.
[0012] U.S. Pat. No. 5,085,435 issued on Feb. 4, 1992 to Rossides,
entitled "method of using a random number supplier for the purpose
of reducing currency handling" discloses the use of a Random Number
Supplier to execute bets in an Expected Value Payment Method for
the purpose of reducing the expected per unit costs incurred in
paying and/or receiving a given amount of a commodity. An expected
Value Payment Method uses bets to reduce expected per unit costs in
two ways. First, expected per unit costs can be reduced for the
payer and/or receiver of a commodity by giving the receiver a
chance to win a greater amount of the commodity than a given
amount, the greater amount having a lower per unit cost than the
given amount which was originally to be paid and received. Second,
in special situations, certain businesses can offer customers who
bet to win a given amount of a commodity a better expected price
for that amount than the price offered to customers paying
conventionally for that same amount. Also disclosed are Expected
Value Payment Execution Systems that make an Expected Value Payment
Method practical by preventing cheating in Expected Value Payment
bets.
[0013] None of the systems or methods listed above include a method
for completing an electronic commerce transaction based on at least
one virtual coin flip or challenging another user for the value of
items in a shopping cart based on at least one virtual coin flip.
None of the systems include virtual simulation of an actual coin
flip, or include the sound of a coin flip or coin bounce. For at
least the limitations described above there is a need for a method
for completing an electronic commerce transaction based on a
virtual coin flip.
BRIEF SUMMARY OF THE INVENTION
[0014] Embodiments of the invention enable methods for completing
an electronic commerce transaction based on a virtual coin flip or
other game. In one embodiment of the invention users conducting
electronic commerce are presented with one or more game playing
choices during checkout. The game the user selects varies in
accordance with the different embodiments of the invention
described herein. A user may, for instance, play one or more
variations on a virtual coin flip game. In some cases the user
wagers on and attempts to predict the outcome of a single coin flip
whereas in other cases the user wagers on multiple coin flips and
attempts to predict the outcome of two or more coin flips. In
instances where a wager is placed the system allows the user to
risk losing the wager in exchange for the possibility of receiving
free merchandise (or services). If the user does not prevail or
obtain the predicted result the wager is lost and the user must
purchase the goods/services. When goods are purchased after a wager
the system deducts a commission for facilitating the sale. Funds
for completing the transaction with either result are made
available or accessible prior to initiating game play. Hence in one
case a system operator (referred to as the house) receives the cash
lost from the player when the prediction was inaccurate and in the
alternative case the house receives a commission for facilitating
the sale.
[0015] For instance, in an online context users conducting
electronic commerce typically collect the goods they wish to
purchase in a shopping cart and are then prompted as to whether or
not they wish to complete the transaction by providing payment
information. The payment information is then secured either by
determining if funds are already present in a house account, by
collecting credit card information or via some other means of
acceptable payment or a promise to make payment. Once the payment
information is obtained and the payment is secured, the user is
asked whether they would like to pay for the goods and acquire them
or possibly wager for the items based on at least one virtual coin
flip for example. Hence the user may opt to gamble for the goods to
be purchased. In cases where the where the user properly predicts
the result(s) of the coin flip(s), the items to be purchased may be
provided to the user for free, for a fraction of the price, and may
optionally include a shipping charge. In other embodiments of the
invention, the user pays for every play even if the user wins. The
items may also be paid for by the shopping entity or optionally may
be paid for by a third party such as a gambling establishment or
house. If the user does not predict the result(s) of the coin
flip(s), then the user loses the monetary input wagered.
[0016] In embodiments of the invention where the user pays each
time for playing even if the user wins, and the winning percentage
is 1/2 n, (50% chance for one coin flip prediction, 25% chance for
predicting a two coin flip prediction, etc.) then the break even
amount to charge the user for playing is 1/(2 n). In this scenario,
a user pays 50% regardless of whether the user wins or loses. If a
user plays 100 times, then on average, the user wins 50 times and
has in effect paid 100 times but at half the price of a product for
a grand total of 50 times the product value. The percentage 1/(2 n)
is therefore the break even monetary input when the user pays even
when the user wins. A wager fee, or percentage added to the top of
the required monetary input allows for a margin to be made by the
shopping entity or third party hosting the wagering. Alternatively,
the difference in amount paid for a product with respect to
wholesale versus retail price may be utilized to generate revenue
within the system. Any combination of wager fee, percentage or
price difference or any other variable may be utilized in order to
generate revenue utilizing the system.
[0017] In embodiments of the invention where the user does not get
charged when winning, the percentage paid for break even is
different than that of the previously detailed embodiment. A user
may opt for predicting one coin flip to wager 100% of the item to
be purchased wherein a win results in no payment for the product
and a loss results in 100% payment for the product without delivery
of the product. If the user plays 100 times, then on average the
user pays 50 times and wins 50 products. Alternatively, the user
may opt for predicting the correct result of two coin flips to
wager 33.33% of the purchase price of the item. For example, if a
user predicts Heads and Heads for the two coin tosses and correctly
predicts the actual result, then the user obtains the item for
free. If the actual result is Heads and Tails, then the user pays
for 33.33% of the item and does not obtain the item. For example if
the user wagers 100 times, the on average, the user wins the
product 25 times and pays 75 times, the break even ratio in this
case is 25/75 which is approximately 33.33%. The ratio of 25 to 75
is 1/3, meaning that if the user paid a monetary input of 1/3 of
the product price, then on average the shopping entity would
receive the full price on average for the products that were
actually won. The ratio in this embodiment is different since the
user does not pay if the user wins. Similarly, if the user opts for
three predictions and correctly predicts the three coin flip
results then the user obtains the item for free, while if the
prediction is wrong the user pays for 14.29% of the item
(1/7.sup.th). Any proportional variation of these ratios is in
keeping with the spirit of the invention. For example, the entity
displaying the coin flip may adjust the percentages of the product
price due based on the number of coin tosses and the product price
or any proportional related thereto. For instance, basing the
monetary input required for predicting at least one coin toss on
1/(2 n-1) results in the ratios stated above where the inverse of 2
to the "n"th power minus 1, where n is the number of coin flips.
This is the break even mark for the wager in that one prediction
(n=1) entered into the formula results in a ratio of one, e.g.,
1/(2-1)=1. For two predicted coin flip results, the formula yields
1/(2 2-1)=1/(4-1)=1/3. This break even percentage may be altered to
provide a winning margin to the shopping entity or third party
handling the wagering. For example, instead of ratios of 1/1, 1/3
and 1/7 for one, two and three prediction scenarios, a flat game
fee or flat percentage may be added to the monetary input required
to play in order to create a margin for the house. Alternatively,
the margin based on the difference in wholesale and retail value of
the product may be used as a margin as well and may be split
between a shopping entity and third party that hosts the
wagering.
[0018] In one or more embodiments of the invention the game
interface utilized for game play is configured to execute a set of
animated graphical elements representative of each of the virtual
coin flips. The virtual coin flip(s) may be animated in one or more
embodiments of the invention and may include sound of the coin
rotating through the air and/or the sound of the coin ringing when
bouncing in order to animate the virtual coin flip as accurately as
desired. For multiple coin flips, the coin flips may occur next to
each other in parallel for example, or may occur one after the
other serially, for example to build suspense. Use of sound creates
a more realistic wagering environment and allows for shopping
environment to achieve an edge on competitors by providing an
exciting environment for users to purchase goods at times for free
or for a fraction of their retail price.
[0019] The user may also opt to challenge another player during
checkout and wager one shopping basket against the other. If the
user opts to wager, the user makes a coin flip prediction and the
system proceeds to execute the coin flip. In cases where the
prediction does not match the actual result the amount of the goods
that were to be purchased is deducted from the users account and
credited to the shopping entity or third party such as the house
and the transaction cannot be completed unless the user pays or
plays for the merchandise again. If the user accurately predicts
the actual result the user is credited the wagered amount, possibly
less a game fee deducted by the house and allowed to proceed with
the checkout and purchase of the goods. In one or more cases users
may not be required to predict the actual result, but the closest
prediction over a series of games is viewed as the actual result.
In other cases the actual result is the precise result achieved
through game play. If a third party such as a gambling
establishment, a.k.a., the house, is handling the wagering and coin
flip(s), the third party may be awarded a commission by the
shopping entity that equals a percentage of the goods purchased.
Multiple coin predictions may be utilized in this embodiment and
thereby lower the amount wagered by increasing the number of
required predictions. For example, use of a two prediction coin
flip scenario results in a 25% or 33% break even point depending on
if the user making the prediction pays regardless of winning or
pays only when losing respectively. Again, modification of the
actual monetary input required is in keeping with the spirit of the
invention as previously described in order to create additional
revenues.
[0020] When challenging other users on line to wager for the
purchase of the respectively shopping carts, a user may be
presented with an interface showing avatars or representations of
other shoppers that are willing to wager for free items. In a
virtual shopping environment, representations of shoppers allows
for virtual shoppers to meet other individuals and communicate and
wager against one another for who pays. Alternatively, other users
may be alerted to shoppers that entered a site, even if they have
not placed items in their cart so that they may be challenged. This
allows a site to drive revenue back into site for people that don't
have anything in the cart yet. If a user is challenged, they may
determine that they want to wager for an item that they were
looking for and proceed to wager for the item if there is a chance
that they may not have to pay for the item or if there is a chance
that they may pay a fraction of retail for the item. The monetary
input paid by the loser of the wager may use the monetary input
associated with their shopping cart or with the winning user's
shopping cart, i.e., the monetary inputs may be in effect switched
in one or more embodiments of the invention.
[0021] In addition, web service enabled electronic commerce sites
may be configured to allow challenges across web sites. By
providing item values and confirmation of payment information,
communication across sites allows for electronic commerce sites
running alternate web engines to provide their users with wagering
capabilities that exist on third party servers.
BRIEF DESCRIPTION OF THE DRAWINGS
[0022] The above and other aspects, features and advantages of the
invention will be more apparent from the following more particular
description thereof, presented in conjunction with the following
drawings wherein:
[0023] FIG. 1 shows a flowchart detailing an embodiment for
completing an electronic commerce transaction based on a virtual
coin flip.
[0024] FIG. 2 shows a flowchart detailing an embodiment for
completing an electronic commerce transaction based on a virtual
coin flip comprising sound.
[0025] FIG. 3 shows a flowchart detailing an embodiment for
completing an electronic commerce transaction based on a virtual
coin flip comprising a challenge to a second user.
[0026] FIG. 4 shows an embodiment of an interface displayed on a
computing device configured to operate within one or more
embodiments of the methods of FIGS. 1-3.
DETAILED DESCRIPTION
[0027] A method for completing an electronic commerce transaction
based on a virtual coin flip will now be described. In the
following exemplary description numerous specific details are set
forth in order to provide a more thorough understanding of
embodiments of the invention. It will be apparent, however, to an
artisan of ordinary skill that the present invention may be
practiced without incorporating all aspects of the specific details
described herein. In other instances, specific features,
quantities, or measurements well known to those of ordinary skill
in the art have not been described in detail so as not to obscure
the invention. Readers should note that although examples of the
invention are set forth herein, the claims, and the full scope of
any equivalents, are what define the metes and bounds of the
invention.
[0028] FIG. 1 shows a flowchart detailing an embodiment for
completing an electronic commerce transaction based on a virtual
coin flip. Processing starts at 100. For instance, in an online
context users conducting electronic commerce interact with the
system when the system presents at least one product on a computing
device at 101. Any type of computing device that is capable of
presenting an image of a product is in keeping with the spirit of
the invention. Most computing devices are network enabled and any
user interface to the system with a computing device most usually
is using a network connection to do so. The users collect the goods
they wish to purchase in a shopping cart wherein the system obtains
a product selection at 102. The user is then prompted as to whether
or not they wish to complete the transaction by providing payment
information at 103. The monetary input payment information is then
secured either by determining if finds are already present in a
house account, by collecting credit card information or via some
other means of acceptable payment. Any method of obtaining
consideration from the user is in keeping with the spirit of the
invention including but not limited to third party payment
services. Once the monetary input payment information is obtained
and the payment is secured, the user is asked whether they would
like to pay for the goods and acquire them or possibly wager for
the items based on at least one virtual coin flip. Given that the
user chooses to use an embodiment of the invention directed towards
wagering via a coin flip, at least one coin flip prediction is
obtained at 104. A random number generator is executed at 105 in
order to generate the proper number of results corresponding to the
number of predictions made by the user. The user is presented a
virtual coin flip to show the result at 106. This may occur using a
number of technologies including dynamic HTML, Flash, video, two or
three dimensional rendered coins or any other method of showing a
virtual coin flip. In cases where the where the user properly
predicts the result(s) of the coin flip(s) as determined at 107,
the product selection is provided to the user at 108. If the user
did not properly predict the result(s) of the coin flip(s), then
the user is charged the monetary input at 110 and the user returns
to shopping at 101. In other embodiments of the invention, the user
pays for every play even if the user wins, this is shown in
optionally occurring at 109.
[0029] FIG. 2 shows a flowchart detailing an embodiment for
completing an electronic commerce transaction based on a virtual
coin flip comprising sound. This flowchart shows that the virtual
coin flip at 106a comprises sound. The sound may include the sound
of the coin flipping through air or the sound may include ringing
when the coin bounces off a virtual boundary, or the sound may
include both of these types of sound. Any other sound associated
with flipping a coin may be introduced to make the virtual coin
flip as realistic as desired. For predictions requiring multiple
coin flips, the coin flips may occur next to each other in parallel
for example, or may occur one after the other serially, or in any
other order. Use of sound creates a more realistic wagering
environment and allows for shopping environment to achieve an edge
on competitors by providing an exciting environment for users to
purchase goods at times for free or for a fraction of their retail
price.
[0030] FIG. 3 shows a flowchart detailing an embodiment for
completing an electronic commerce transaction based on a virtual
coin flip comprising a challenge to a second user. In this
embodiment, the user may opt to challenge another player during
checkout and wager one shopping basket against the other. The
product is presented at 101, selected at 102, monetary input is
obtained at 103 as per the previously described embodiments. If the
user opts to challenge another shopper to a wager, the challenge is
presented to the second user at 300 and the user makes a coin flip
prediction 104 and the system proceeds to execute the coin flip at
105 and present the coin flip at 106b optionally with sound. In
cases where the prediction does not match the actual result the
monetary input amount associated with the goods to be purchased is
charged to the users account at 110 and credited to the shopping
entity or third party such as the house and the transaction cannot
be completed unless the user pays or plays for the merchandise
again. If the user accurately predicts the actual result the user
is provided with the product selection, possibly less a game fee
deducted by the house at 108. Optionally, depending on the
embodiment the user may be required to pay at 109 even if winning.
If a third party such as a gambling establishment, a.k.a., the
house, is handling the wagering and coin flip(s), the third party
may be awarded a commission by the shopping entity that equals a
percentage of the goods purchased. Multiple coin predictions may be
utilized in this embodiment and thereby lower the amount wagered by
increasing the number of required predictions. For example, use of
a two prediction coin flip scenario results in a 25% or 33% break
even point depending on if the user making the prediction pays
regardless of winning or pays only when losing respectively. Again,
modification of the actual monetary input required is in keeping
with the spirit of the invention as previously described in the
summary in order to create additional revenues.
[0031] The percentages for break even for the required monetary
input is determined depending on the embodiment as detailed below.
In some embodiments, the items may be paid for by the shopping
entity or optionally may be paid for by a third party such as a
gambling establishment or house. If the user does not predict the
result(s) of the coin flip(s), then the user loses the monetary
input wagered.
[0032] In embodiments of the invention where the user pays each
time for playing even if the user wins, and the winning percentage
is 1/2 n, (50% chance for one coin flip prediction, 25% chance for
predicting a two coin flip prediction, etc.) then the break even
percentage of product price to charge the user for playing is 1/(2
n). In this scenario, a user pays 50% of a product price regardless
of whether the user wins or loses. If a user plays 100 times, then
on average, the user wins 50 times and has in effect paid 100 times
but at 50% of the price of a product for a grand total of 50 times
the product value. The percentage 1/(2 n) is therefore the break
even monetary input when the user pays even when the user wins. A
wager fee, or percentage added to the top of the required monetary
input allows for a margin to be made by the shopping entity or
third party hosting the wagering. Alternatively, the difference in
amount paid for a product with respect to wholesale versus retail
price may be utilized to generate revenue within the system. Any
combination of wager fee, percentage or price difference or any
other variable may be utilized in order to generate revenue
utilizing the system.
[0033] In embodiments of the invention where the user does not get
charged when winning, the percentage paid for break even is
different than that of the previously detailed embodiment. A user
may opt for predicting one coin flip to wager 100% of the item to
be purchased wherein a win results in no payment for the product
and a loss results in 100% payment for the product without delivery
of the product. If the user plays 100 times, then on average the
user pays 50 times and wins 50 products. Alternatively, the user
may opt for predicting the correct result of two coin flips to
wager 33.33% of the purchase price of the item. For example, if a
user predicts Heads and Heads for the two coin tosses and correctly
predicts the actual result, then the user obtains the item for
free. If the actual result is Heads and Tails, then the user pays
for 33.33% of the item and does not obtain the item. For example if
the user wagers 100 times, the on average, the user wins the
product 25 times and pays 75 times, the break even ratio in this
case is 25/75 which is approximately 33.33%. The ratio of 25 to 75
is 1/3, meaning that if the user paid a monetary input of 1/3 of
the product price, then on average the shopping entity would
receive the full price on average for the products that were
actually won. The ratio in this embodiment is different since the
user does not pay if the user wins. Similarly, if the user opts for
three predictions and correctly predicts the three coin flip
results then the user obtains the item for free, while if the
prediction is wrong the user pays for 14.29% of the item
(1/7.sup.th). Any proportional variation of these ratios is in
keeping with the spirit of the invention. For example, the entity
displaying the coin flip may adjust the percentages of the product
price due based on the number of coin tosses and the product price
or any proportional related thereto. For instance, basing the
monetary input required for predicting at least one coin toss on
1/(2 n-1) results in the ratios stated above where the inverse of 2
to the "n"th power minus 1, where n is the number of coin flips.
This is the break even mark for the wager in that one prediction
(n=1) entered into the formula results in a ratio of one, e.g.,
1/(2-1)=1. For two predicted coin flip results, the formula yields
1/(2-1)=1/(4-1)=1/3. This break even percentage may be altered to
provide a winning margin to the shopping entity or third party
handling the wagering. For example, instead of ratios of 1/1, 1/3
and 1/7 for one, two and three prediction scenarios, a flat game
fee or flat percentage may be added to the monetary input required
to play in order to create a margin for the house. Alternatively,
the margin based on the difference in wholesale and retail value of
the product may be used as a margin as well and may be split
between a shopping entity and third party that hosts the wagering.
Any percentage may be charged with any embodiment in order to
create necessary revenue streams.
[0034] When challenging other users on line to wager for the
purchase of the respectively shopping carts, a user may be
presented with an interface showing avatars or representations of
other shoppers that are willing to wager for free items. In a
virtual shopping environment, representations of shoppers allows
for virtual shoppers to meet other individuals and communicate and
wager against one another for who pays. Alternatively, other users
may be alerted to shoppers that entered a site, even if they have
not placed items in their cart so that they may be challenged. This
allows a site to drive revenue back into site for people that don't
have anything in the cart yet. If a user is challenged, they may
determine that they want to wager for an item that they were
looking for and proceed to wager for the item if there is a chance
that they may not have to pay for the item or if there is a chance
that they may pay a fraction of retail for the item. The monetary
input paid by the loser of the wager may use the monetary input
associated with their shopping cart or with the winning user's
shopping cart, i.e., the monetary inputs may be in effect switched
in one or more embodiments of the invention.
[0035] FIG. 4 shows an embodiment of interface 400 displayed on a
computing device configured to operate within one or more
embodiments of the methods of FIGS. 1-3. Product image 401 is
displayed an may comprise more than one product in for example the
shopping cart of the user. Any items selected may have monetary
inputs associated with them when placed in the cart or before
wagering. The product or shopping cart items may comprise text
based description or metadata 402. The user can opt to simply
checkout using interface component 403, or wager using interface
component 404. Alternatively, the user may opt to challenge another
user at 405. After deciding to wager or challenge, the user may be
prompted for the number of flips to predict. In this example, the
user has chosen 3 flips. The embodiment shown may comprise
always-pay or pay-only-when-lose embodiments and may comprise any
percentage of the total price of the items in the shopping cart,
generally but not always a function of the number of flips. After
the user chooses the predicted flips using interface component 408,
each coin flip occurs sequentially or in parallel with the coin
actually flipping up and down the respective area above each
predicts flip (as shown with up and down arrows 407). As each flip
matches the predicted flips interface component may show the result
in a different color or simply not change the prediction. As a flip
fails to result in the predicted value an "X" or any other method
of displaying a failed prediction may be shown (see rightmost
failed prediction with "X" over it at predicted flip interface
component 408).
[0036] In addition, web service enabled electronic commerce sites
may be configured to allow challenges across web sites. By
providing item values and confirmation of payment information,
communication across sites allows for electronic commerce sites
running alternate web engines to provide their users with wagering
capabilities that exist on third party servers.
[0037] While the invention herein disclosed has been described by
means of specific embodiments and applications thereof, numerous
modifications and variations could be made thereto by those skilled
in the art without departing from the scope of the invention set
forth in the claims.
* * * * *