Culture

Website Lets Users Wager on News Stories

by Jarrett Martineau | January 28, 2008 at 10:01 am

479 views | 10 Recommendations | 3 comments

I don't really know what to make of this. Exactly what is compelling about betting on the outcome of news stories? HubDub seems to think it's virtual dollars + bragging rights.

So, there was a car crash on Highway 20. How many died or were injured? Ladies and gentlemen, place your bets! My odds are on 3 dead, 2 severely injured, and 1 truck driver escaping with only minor cuts and bruises.

How is this 'participating' in news?

Hubdub is a startup news forecaster that allows users to track news stories, predict their outcomes and compete with other news junkies. In theory, this predicting process turns you from being a passive news consumer into an active news participant. Think a fantasy sports league for news.

To echo the sentiment of a commenter on TechCrunch, I think it is difficult
enough trying to keep up with reading the news, let alone trying to
predict it.

Nigel Eccles, a news junkie and former online betting site employee, wanted to try pursuing both interests at once.

Thus was born Hubdub — a new Web site Eccles and three colleagues in Edinburgh, Scotland, assembled — where customers will bet for fun, not money, on the outcomes of real news stories.

The site launches Monday as an influential technology conference gets under way in Palm Desert, Calif. — where Eccles plans to try drumming up support from investors.

Here's how it will work. After signing up, you'll receive 1,000 “Hubdub dollars,” play money that works only on the site. You can look at stories about, say, whether Gregg Williams will be named the next head coach of the Washington Redskins or who will win the Florida Republican primary.

Guess right, and you'll win more Hubdub dollars. Lose, and your account will draw down. In the spirit of the board game Monopoly, where simply sticking it out is rewarded, you'll also get 20 new Hubdub dollars ever day you log in.

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politisite

flagged this story as Good Stuff

at 11:12 on January 28th, 2008

Jarrett Martineau, I'll bet, he he, this will go over well. Did you know intrade has betting on primaries, elections, etc. So this is the next logical step. I don't see, however; why anyone would bet on a the Peterson Case, where you are betting essentially if the Girl is dead.

Rob Peters

at 11:54 on January 28th, 2008

I can see this being fun for good news, like betting five bucks on whether it's going to be sunny today, but for bad news, it seems rather morbid and inappropriate.

matte

at 15:25 on January 28th, 2008

this should be introduced onto NP - get a different story ranking system - people who participate get points, stories that get ranked also get points.

Points could be spent in a NP store.

Swan

at 16:13 on January 28th, 2008

Hello guys,

It's a weird web site for sure. I wonder just how discerning the owners will be be in the types of questions that are asked for the bets - I can see many families being tragically hurt and physically upset if some types of questions are asked.

I do hope that they don't go for the sensationalism side of things.

Matte: I love your points idea! It gives the reporters that little bit of extra recognition for their contributions to Now Public. Could you please open it up for discussion in the forums Matte?

Thanks for bringing the story here Jarrett. :)
~ Swan