New Company Lets College Students Make Bets on the Grades They Will Earn

It all started when Jeremy Gelbart, one of the founders of Ultrinsic, made a bet with Steven Wolf, the other founder, that he would make an A in a college class. After they graduated, they decided to see if this scheme could work on a larger scale:

Ultrinsic, currently in beta form, allows students at 37 colleges to gamble on their grades in each of the classes they take. The student hands over money to Ultrinsic--as well as access to his or her official school records--as a wager that they will attain a certain grade. If they get it, Ultrinsic pays out on a sliding scale.

A pilot scheme in place at both Penn and NYU over the last academic year had some takers, including one guy who won $150, although the serious money is to be made by high schoolers as they head off to university. Then, if you bet $20 on getting a 4.0 GPA, then you'll walk away with $2,000 should you succeed. That, apparently, is what motivation looks like.

Link via Marginal Revolution | Photo by Flickr user banspy used under Creative Commons license

Newest 5
Newest 5 Comments

no! no! This is just another trick, to turn all of you wonderful youths into SLAVES, I say, SLAVES, to the education system in America! Do not fall prey to the almighty GPA! Instead, open your mind, I say, open your minds and freeeee yourselves!
Abusive comment hidden. (Show it anyway.)
Commenting is closed.
Email This Post to a Friend
"New Company Lets College Students Make Bets on the Grades They Will Earn"

Separate multiple emails with a comma. Limit 5.


Success! Your email has been sent!

close window

This website uses cookies.

This website uses cookies to improve user experience. By using this website you consent to all cookies in accordance with our Privacy Policy.

I agree
Learn More