A new social wagering Website BluBet has been launched today, with the backing of some Web 2.0 elites such as Jawed Karim (cofounder of YouTube), Kevin Hartz (cofounder of international money transfer service, Xoom), Joe Greenstein (cofounder of Flixster) and Keith Rabois (former PayPal & LinkedIn executive and current Slide executive). This BluBet is truly a Web 2.0 site, very open from very early on, with some compelling features have been designed in order to entertain their users that want to voice out their opinion about everything, and to bet on certain topic for a virtual currency that so-called BluBucks. In the meantime, this site is opened for public, with every new registered user, 30,000 BluBucks to be rewarded. However, there are no monetary value of the BluBucks, as it was designed for their users to learning about how they use the BluBucks in betting on the topics that they are participate. There are rules in how an user using the BluBucks or how the BluBucks is rewarded such as refer a friend and earn 500 BluBucks per sign up, a bet’s pot is split evenly among the winners, and etc. Also, each registered user will have her own profile on the site.

All the topics found on BluBet are well classified, with categories such as Entertainment, Technology, Science, World News, Business, Sports, Gaming and Personal. Each topics are listed with important input, whom created the topic, and how many of the players involved in that particular topic can be found from each topic. The users also can get their friends’ opinions on bets with a widget that can be embedded on any website, social network, and blog. Based on my observation, this site is founded with the ideas of user-generated content and the medium was the bet that to be exchanged by the BluBucks. BluBet believed that by leveraging the common interest of the gambling games, they can well create a huge Web communities around the world.

BluBet is founded in June this year, with Headquarter in San Francisco, California.