A system and method is provided for using a network-connected host device to facilitate a transaction, wherein the transaction involves the purchase of an item from a merchant, where the user can select a rebate for a least a portion of the purchase price of the item after the item has been purchased, the rebate being linked to a result of an event selected by the user and the outcome of the event determines whether the rebate is activated for processing, thereby resulting in at least a partial refund to the user. The rebate is preferably selected from a plurality of rebates associated with predictions, where each prediction is related to the user's stated or identified interests.