Website Lets Users Wager on News Stories
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
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.