Website Lets Student Bet On Their Grades

The Washington Post reported, “The Web site allows college students to place wagers on their grades. Bets start at $25 — the student puts up some of the money, the company puts up the rest (more for super high grades, less for easy-to-get grades). If the student makes the grade, he or she can keep all of the money. Falling a few percentage points short means the company keeps the cash the student put in.

The site was launched by some recent college grads at the University of Pennsylvania and New York University last year, according to The Chronicle of Higher Education.”

According to the Ultrinsic site, Freshman will have the following incentive offered to them:  Achieve a 4.0 GPA throughout college and earn cash rewards. $2000 of cash incentives is $20, $1000 of cash incentives is $10, and $500 of cash incentives is $5.

Ultrinsic is offered at the following universities:

University of California-Berkeley
University of Southern California
Stanford University
University of California-Los Angeles
University of Connecticut
Howard University
American University
George Washington University
Georgetown University
Indiana University-Bloomington
Brandeis University
Boston College
Harvard University
Boston University
Michigan State University
University of Michigan-Ann Arbor
North Carolina State University
University of North Carolina
Wake Forest University
Duke University
Rutgers University
CUNY Queens College
SUNY Binghamton
Syracuse University
St. Johns University
New York University
Columbia University
Pennsylvania State University
University of Pittsburgh
University of Pennsylvania
Princeton University
University of Texas-Austin
Texas Tech University
Texas A&M University
Brigham Young University
University of Wisconsin-Madison

How do you feel about betting on grades?  Some student affairs experts are saying it just promotes gambling. The Huffington Post reported that CEO Steven Wolf insists this is not online gambling, which is technically illegal in the United States, because wagers with Ultrinsic involve skill. “The students have 100 percent control over it, over how they do. Other people’s stuff you bet on – your own stuff you invest in,” Wolf says. “Everything’s true about it, 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.”