Startup Pick.fm Lets You Bet on Pop Culture, Celebrities

Will Jessica Biel wear an engagement ring at the Oscars? Who will win The Bachelor? Is designer Prabal Gurung destined to be named Best in Show" at New York Fashion week? For pop culture junkies, it's time to place your bets.

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A new startup called Pick.fm launched on Tuesday allowing users to place fantasy bets on style and entertainment. Similar to betting on sports, the site doesn't promote any monetary gambling, but Pick.fm aims to be a destination site to show off pop-culture knowledge. Users can collect virtual dollars for prizes.

People speculate about this stuff all of the time, said Pick.fm editor in chief Ann Brady, We figured, why not let them bet on it? The more we talked, the more we realized how addictive it would be.

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Pick.fm site is part-blog, part-game. Next to articles about pop culture news are questions related to the topic. For example, an article about The Bachelor might ask readers which contestants could be saved on the next episode.

Guys are constantly speculating about sports, and what do they do to make it more fun? They bet on it. Lots of women like to speculate about people and trends in the news, but there isn't a betting site out there for them," Pick.fm spokesperson Brett Stinski told Mashable.

According to a 2003 study conducted by Harrah's, women actually outnumber men in casino visits, so the interest in betting is certainly there.

Pick.fm -- which had been in a soft launch since January -- is a spinoff from parent company and market-research firm Media Predict, which runs a similar betting game where users predict which TV shows and movies will become hits. Media Predict hopes to attract Pick.fm users who find the experience addictive, creating a community of savvy insiders who can spot up-and-coming trends. Data generated by this community can help companies put out better products for women, Pick.fm said.

The site will be conducting product giveaways, sweepstakes and allow users to collect virtual dollars for winning bets. To kick off the launch, the site is giving away "butter London" nail polish for those that correctly guess what the beauty company's creator director will choose as her favorite color from its spring line.

Pick.fm has also partnered with fashion site beso.com to offer a Red Carpet Challenge for the Oscars, where users can place bets to win a $500 gift card.

This story originally published on Mashable here.