Gambling On the News

News consumers can now become participants too. That, of course, if they are willing to put their virtual money, and their reputations, on the line.

A new website has launched this week at a technology start-up conference in Palm Desert, California, which allows virtual betting on news stories. The Edinburgh, Scotland-based website, Hubdub.com, provides a platform for playful betting with virtual money.

Hubdub co-founder Nigel Eccles believes the website will challenge people to put their (virtual) money where their mouths are. It’s not enough any longer to talk the talk. Hubdub has people walk the walk.

Membership is free. Upon registering, users receive 1,000 Hubdub dollars. Their comments, questions, postings and bets all go toward the various stories’ rankings.

By voicing their opinions, users risk their credibility. In turn, they can receive "leader board" recognition, the virtual alternative to bragging rights.

"One of the things we discovered is that people value reputations more than they do cash. It is an even bigger currency,” said Mr. Eccles.

As Hubdub focuses on the US market (its most popular story is currently Britney Spears), it is being careful to obey the gambling law, known to real money gamblers as the ban on online gambling.