Feeling blue.....

[jetset]

BLUBUCKS WITH BLUEBET

New entertainment site uses betting to enhance entertainment

Launching in Beta format this week is an innovative concept called BluBet.com, a website that encourages users to bet on an unlimited set of topics to win kudos and virtual currency called BluBucks.

BluBet boasts a dream team of backers headed by the co-founder of the video sharing YouTube concept, Jawed Karim and including Kevin Hartz (co-founder of international money transfer service, Xoom), Joe Greenstein (co-founder of Flixster) and Keith Rabois (former PayPal & LinkedIn executive and current Slide executive).

The new site is fueled by the best ideas of user-generated content and predictive markets. Instead of building a complicated prediction market that is hard to understand for the average user, BluBet took a simpler approach. By layering an entertaining gambling game on top of a prediction market, BluBet has built a service that is fun to use and easy to understand for the casual participant.

"Currently, our main priority is to continue to build a fun, engaging experience," said San Francisco-based Song Kim, CEO of Bluebet Inc. "Ultimately, we believe BluBet will be the place to go to gain insights on any major event, whether in sports, entertainment, finance, or current events. A simple user-experience makes BluBet the prediction market for the rest of us."

BluBet offers a variety of features that enable users to do the following:

* Place a bet and comment on any topic.

* Create bets with pictures, news articles, and comments.

* Get friends' opinions on bets with a widget that can be embedded on any website, social network, and blog.

* Earn virtual currency and achievements based on successful betting.