Successful online business - gambling on grades

Online gambling business is among the most profitable businesses worldwide. Yet in some countries online gambling is illegal so you have to think of something unusual to earn money this way. Jeremy Gelbart and Steven Wolf from US have step out with a very interesting online business idea that involves gambling, but at the same time doesn't go contrary to the law. Ultrinsic is a website that allows college students to gamble on their grades in a course or a semester. The name of the site means ULTerior motivation that produces intRINSIC love of knowledge. In other words site is focused on providing motivation to perform well academically. the service uses an algorithm that takes into account current work load, course history and, when available, the difficulty of a specific course. Ultrinsic calculates the odds on your academic career, and allows you to make wagers for cash rewards. For example, if Ultrinsic thinks that the odds are two to one against you getting an A in Modern English Grammar, and you decide to wager $50, an A will net you $100 on top of the $50 you originally risked. You can also buy "grade insurance," which pays cash if you fail a class. Betting on grades is currently available for students in 36 US colleges, but founder of Ultrinsic plan to expand. Innovative approach and creative thinking always pays off so I'm pretty sure that in time we'll hear about Ultrinsic more and more.

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