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Gambling on grades: Think you are smart? Wanna bet on it?

Jenna Johnson

Later this month, some college students will meet a new load of professors, study a pile of syllabuses and optimistically think, "I bet I can get a 4.0 GPA this semester."

Well, now they can actually bet on it.

The Web site Ultrinsic.com allows college students to place wagers on their grades. Bets start at $25 -- the student puts up some of the money, the company puts up the rest (more for super high grades, less for easy-to-get grades). If the student makes the grade, he or she can keep all of the money. Falling a few percentage points short means the company keeps the cash the student put in.

The site was launched by some recent college grads at the University of Pennsylvania and New York University last year, according to The Chronicle of Higher Education. This school year it will expand to 36 more campuses, including Howard, American, George Washington and Georgetown universities.

There are lots of questions about the Web site, according the The Philadelphia Inquirer. Some students worry about handing over their transcripts. Officials are unsure if the site could be considered online gambling. And some who work in higher education are wary.

"This is not what real education is about," Barmak Nassirian of the American Association of Registrars and Admissions Officers, told The Inquirer. "They have come up with a shtick."

Campus Overload is a daily must-read for all college students. So, make sure to bookmark http://washingtonpost.com/campus-overload. You can also follow me on Twitter and fan Campus Overload on Facebook.

By Jenna Johnson  |  August 11, 2010; 3:13 PM ET
Categories:  News Overload  | Tags: American, GWU, Georgetown, Howard  
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