Colleges Find Concerns In Student Grade Betting

A US website is giving students the opportunity to wager cold hard cash on their own academic performance, raising concerns among educators and problem gambling groups.It all started one night when Jeremy Gelbart was hanging out with a buddy instead of studying for a test he was scheduled to take the next day at the University of Pennsylvania.

“Why aren’t you studying?” his friend asked. “I’ll tell you what -- I’ll pay you $100 if you make an A on that test. If you don’t, you can pay me $20.”

Right away, Gelbart said, he wanted to race home and start studying. He aced the test the next day and got $100 from his friend and eventual business partner, Steven Wolf.

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