Tuesday, August 10, 2010

$$$ for your grades

We can always blame Dean Malkiel's grade deflation for graduate school and job rejections, angry parents and just plain old unhappiness, but now we can add one more item to the list of things grade deflation keeps from us: cold, hard cash.

Yeah, you heard right. Ultrinsic.com, a website that lets students bet on their grades, just expanded to include Princeton. If you want to give it a shot, you first upload an official class schedule to the site. Based on information it gathers on your school and the difficulty of your classes, the site then calculates odds for each student.

The worse your odds, the more money you earn if you win a bet. Betting $20 at the start of freshman year that you will graduate with a 4.0 would earn you $2,000 (Odds: 100-1).

Online gambling is illegal under federal law but the site's owners insist that Ultrinisic is not technically a gambling site because getting grades involves skill and students can only place wagers on their own performance.

But, be careful! If, despite the legal risks, you decide to give it a try, a letter from Dean Malkiel won't get you out of a bet.