I suck so bad at videogames that I would never bet money on a match. There are plenty of people good enough, though, and if you or they would care to make a wager, BringIt.com will help you do that.
BringIt is a third-party that takes yours and your opponent’s cash and holds it in escrow. It’s still in beta, but should be in full force soon. You play, report the results, and then the prize is granted to the winner. BringIt charges a small service fee (starting at $.50) for their work. You simply register, fund your account, take on a challenge, and then hopefully get paid. Right now, the Xbox 360, PS3, PS2 and Wii are supported.
If you live in the following states, you can forget about betting on games online: Arizona, Arkansas, Delaware, Florida, Indiana, Iowa, Louisiana, Maryland, Montana, Tennessee, and Vermont. Everywhere else is good. How is this legal everywhere else? Well, winning would be due to your skill, and not chance.
Are you good enough to put your money where your mouth is? How good? In an interview with BringIt.com’s founder Woody Levin in ESPN The Magazine, it is said that up to $100,000 can be wagered. I don’t know anyone that good, save for our own Topher at Super Puzzle Fighter.