Two New York entrepreneurs are offering college students the chance to put their money where their grades are.
Their website lets college students place wagers on their own academic performance, betting they will earn, say, an A in biology or a B in calculus. Students with low grade point averages are considered long shots, so they have the opportunity to win more money for high grades than classmates with a better GPA.
The pair of recent college graduates who founded Ultrinsic.com say they hope to turn a profit and inspire students to work harder. “It would be great if everyone was intrinsically motivated to get good grades, but that’s, like, not reality,” said Jeremy Gelbart, a 23-year-old co-founder of the site.