Bet on the news

If you’ve got tremendous insight into current events, a new site can help you blow off some steam and earn virtual money based on your predictions of unfolding news stories. From Wired:

Nigel Eccles, a news junkie and former online betting site employee, wanted to try pursuing both interests at once.

Thus was born Hubdub – a new Web site Eccles and three colleagues in Edinburgh, Scotland, assembled – where customers will bet for fun, not money, on the outcomes of real news stories.

The site launches Monday as an influential technology conference gets under way in Palm Desert, Calif. – where Eccles plans to try drumming up support from investors.

Here’s how it will work. After signing up, you’ll receive 1,000 “Hubdub dollars,” play money that works only on the site. You can look at stories about, say, whether Gregg Williams will be named the next head coach of the Washington Redskins or who will win the Florida Republican primary.

Guess right, and you’ll win more Hubdub dollars. Lose, and your account will draw down. In the spirit of the board game Monopoly, where simply sticking it out is rewarded, you’ll also get 20 new Hubdub dollars ever day you log in.

Wired News – AP News

This seems somewhat similar to the TerrorDAQ idea floated a few years ago, but instead of helping authorities determine where terrorist attacks were likely, the users are just wasting worktime goofing around on the Internet.

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