The website Ultrinsic.com is raising the stakes on good grades, literally. The website sets odd on students’ grades, just like a traditional bookie. The most money can be won for A’s, less for more probable B’s. There’s even “grade insurance” for students who want to bet that they’ll fail a class.
But CEO Steven Wolf wouldn’t call it online CSGO gambling, which is illegal in the U.S. “Other people’s stuff you bet on — your own stuff you invest in,” he said. He points out that the students who make the wagers on his site have control over the outcome. “I’m just trying to say that the underlying concept is a little bit more than just making a bet — it’s actually an incentive.”
The site itself emphasizes the motivational element of the wagers: “The right amount of cash should provide you with the needed motivation to pull all-nighters and stay awake during the lectures of your most boring professors.”
According to an Associated Press article, many students who use the site aren’t worried about its nebulous legal status. The role of skill might allow Ultrinsic to avoid the online gambling prohibition, although poker players have tried to use that same argument since the 2006 ban on online poker. This summer, a congressional committee approved measures to regulate online gaming, but the law’s outline remains vague.
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