If you’re a news junkie who also likes a good bet, there’s a site to satisfy that itch: Hubdub allows users to make predictions on news stories. In an interview with DigitalJournal.com the startup’s co-founder shares his joy of gambling on real issues.
Digital Journal — Will the Writers Guild of America strike end by Feb. 29? Will Mike Huckabee continue his campaign? Is Angelina Jolie pregnant? These questions are all part of the content that makes up Hubdub.com, an Edinburgh-based website that mixes news stories and gambling.
Users bet on something like whether Jolie is pregnant, answering “yes” or “no.” If they are correct, they earn “Hubdub dollars” and boosting their reputation on the site. Online betting is not just for poker fiends anymore.
After signing up for a free membership, visitors to Hubdub receive 1,000 free “Hudbub dollars” to bet on how major news stories will play out. Some questions are posed as yes-or-no possibilities and some offer multiple choices. Hubdub’s “leader board” gives winners bragging rights and inspire losers to secure more credibility.
News categories at Hubdub include technology, science, entertainment, politics, business, and sports. Recent questions posed by users include, “Will the Space Shuttle Endeavour launch on March 11 2008?” (67 per cent say Yes), “Which Candidate will be Elected President?” (Hillary Clinton, 39 per cent of the vote) and “Will the Boston Celtics win the NBA championship this year?” (two-thirds hope so). Members “vote” on questions that they like, allowing the best ones to rise to the home page.
Another useful feature is Hubdub’s ability to find relevant news articles for each formulated question. So a question on Huckabee will include dozens of aggregated news stories about his race for the Republican bid, giving predictors a better idea of which bet they should lay their “dollars” on.
Hubdub.com, a site that lets you bet on the outcome of news stories
Hubdub sounds like an intriguing addition to the Web 2.0 pantheon but DigitalJournal.com wanted to find out more. We interviewed Hubdub’s co-founder Nigel Eccles to learn what makes the site ideal for news junkies and why gambling addicts should find Hubdub therapeutic.
DigitalJournal.com: What’s the main appeal of joining Hubdub? From a member’s point of view, is it mainly for fun, for profit or for learning about the news of the day?
Nigel Eccles: We’re finding that different users are using Hubdub for different things. Some people are using it to keep a track of news stories they are interested in. They find it to a highly efficient way to get the news. For example, will Microsoft manage to buy Yahoo? I could wade through pages and pages of analysis or I could just look at the forecast on Hubdub (65 per cent chance). Other users are using it for the fun, challenge and excitement of competing against other users in predicting how news stories will turn out. Then we have a third set of users who are using the site to promote themselves and their blogs.
DigitalJournal.com: Members can earn Hubdub dollars but does that translate to real-life cash? If not, what’s the incentive to play with fake money?
Eccles: For some users, Hubdub is a highly competitive game and Hubdub dollars are the score. The players that played in the Super Bowl obviously are financially rewarded if they win but ultimately they just want to win. It is the same on Hubdub.
Also, the funny thing if you gave most people a choice between losing their reputation or their cash, they would prefer to lose the cash. Hubdub works on a reputation economy where users gain credibility through making predictions. Over time we are working out ways for users to use their credibility to market themselves and their blogs.
DigitalJournal.com: Critics may point out that Hubdub promotes gambling, a serious problem for many individuals. The site may be adding gambling to an area so far untouched by that vice – news. How would you respond to that?
Eccles: Having worked in the betting industry I am aware of how serious an issue problem gambling is for some people. For some people it is a very destructive addiction. However, as Hubdub is for play money I really don’t see how we might contribute to problem gaming. In fact, we have at least one user who has a history of problem gambling and he finds prediction markets including Hubdub a great way to play without the danger of gambling.
DigitalJournal.com: Where do you hope Hubdub will go, in terms of financing and popularity?
Eccles: I have received heaps of emails from users telling me how much they love the site…We think that Hubdub is a unique and compelling way to follow the news and hope that those people will one day find it as useful and exciting as our early adopters.
