By: The Editor

Everyday all we hear about is the current recession. One minute the stock market is up 2-3% and the next investors are scrambling to sell their stocks.

Here is a new company out of New York City that looks to put the fun back into the stock market and you can get paid for participating.

BetMyStock gives you the opportunity to bet on the stock market, just as you would wager on a sports game. Rather than investing your own money into specific stocks, BetmyStock gives you the opportunity to make simple predictions of stock price versus another user within a day’s period.

Although not a lot of money to start, they give you for free 10 cents to start out with and you can use that however you wish to gamble/play on the site. You can bet on any of the selected stocks or indexes located on the BetmyStock website.

If your bet is correct at the end of the day, the winning percentage of the event determines what you receive. If you lose the 10 cents they will give you another free 10 cents. Once your balance reaches $15.00, you can cash out with real cash.

Obviously for entertainment value it is worth to take a look at the site. They recently launched on May 4, 2009. Although I think it is a novel idea to offer the users “real money” I would suspect they will look to expand this business model as traffic continues to build. Wanna bet ??