Gamble grades with Ultrinsic

For those who didn't think there was enough incentive on getting good grades in school, there is good news.

Ultrinsic.com is a website that allows students to place bets on whether or not they will do well in a particular class.

Like odds makers in Las Vegas, the website sets odds against a positive performance in a certain class, which is based on your past performances.

The site pays out accordingly, setting odds similar to how bookies set sports odds: the students who have a higher Grade Point Average will get less pay-outs for an A.

"People come to our website, create an account and put in their GPA and the current classes they are taking this semester," said Steven Wolf, cofounder of the website to Fox News.

"Ultrinsic will then calculate how much the student must contribute to the [wager] and how much we will contribute […] those are the odds," he stated.

Jeremy Gelbart and Wolf, two former Queens college students, started the website on a whim and have watched it grow from two schools originally to 36 college campuses for the upcoming semester.

Queens college is the only CUNY school the site is currently being offered to.

Legal questions have arose from the website, but representatives from Ultrinsic said they are in the clear because betting on your grades is a game or skill, rather then luck, which is considered one of the legal requirements of gambling.

"The students have 100 percent control over it, over how they do," Wolf said to The Huffington Post. "Other people's stuff you bet on – your own stuff you invest in. Everything's true about it, I'm just trying to say that the underlying concept is a little bit more than just making a bet – it's actually an incentive."

The website calls its bets "incentives," and suggests that the wagers are meant to motivate students to do better by adding monetary stimuli to reach that goal.

"College students are smart, that's why they're in college," said Wolf to Fox News. "If it is in the students control it is up to them […] it's not rolling the dice."

According to the company website, Ultrinsic is not involved with schools directly and work completely independently, looking to spread to every campus nationwide in the near future.

We operate independently of the schools, we don't need their approval." said Wolf to Fox News.

"This is just our pilot program, we want to expand to schools throughout the country."

Although this may be a positive outlook for students, some administrators at Baruch believe the opposite.

"This is insane, it sounds like the greatest scam in the world," said Carl Aylman, director of Student Life. "I don't think the idea of doing well in school is something you bet on, it's something you work for."

Students also have a negative view on the website.

Sophomore Angela Pagounidis, who is a sophomore at Queens college thinks that the website is a waste of time.

"I think it is kind of absurd, I mean it doesn't really make sense," said Pagounidis. "Everyone nowadays has everything handed to them, they need to learn to do it for themselves."