The computer-implemented virtual game-based method and system of the present invention allow participants to play incentive-based virtual games and accept or decline offered prizes. Declining an offered prize allows a participant to play for a more desirable prize and accepting a prize prohibits the participant from accepting another prize for the duration of a temporal lock out period. Individual single use virtual games are issued electronically to participants requesting to play a virtual game. Prizes are offered by each single use virtual game in accordance with pre-generated single use virtual game tickets commanding the presentation of an offered prize or non-offered prize. Some embodiments of the present invention deliver branded advertising to consumers participating in game play. In these embodiments, virtual game elements comprise branded advertising impressions as part of the interactive virtual game.