10:51 PM PDT, August 11, 2010 LOS ANGELES -- A new website is giving higher education a Vegas twist, allowing college students nationwide to bet on their own grades.
The student puts up some of the money, and the company fronts the rest -- more for A's, slightly less for B's, and so on. The amount is also moderated by other information like the student's past academic record and the difficulty of the class.
If the student makes the grade, he or she gets to keep all the money. If they fall short of the mark, the company keeps the money the student contributed.
Students can also bet on the fact that they'll fail a class, buying something called "grade insurance."
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