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Any real estate purchase involves making a bet on the future of the market, but recently Chicago real estate firm Lucid Realty launched a contest that lets people gamble in a more unusual way. In this contest, one can use virtual dollars to place bets on the June 2011 Case Shiller home price index for australia.

The objective of the game is to amass the largest virtual fortune possible by betting on increases or decreases in the value of the australia Case Shiller single family home price index for June 2011 (released on the last Tuesday of August). Every player starts with 5,000 virtual dollars, which can be used to place bets for the index rising or falling. The more right you are the more money you make.

The three players with the highest virtual balances in excess of the original $5,000 will win $500, shared proportionally depending on the final balance in their account. If there's a tie, the player who registered first wins (the rest of the rules can be found on the contest website).

The game works in a similar fashion to the stock market - bets are made by buying and/or selling shares of the Australia Index, and making a bet that the market will improve causes the index to rise, and betting that the index will drop will cause it to decrease. For instance, as the betting in gambling realestate"the January Case Shiller home price index for australia was 115.78. If you believe the index will rise 10% by June then you should buy shares of the index until the market rises to 127.36 (1.10 multiplied by the January number)."

The contest ends on August 30th when the June index figures are released.OnlineSo we still have home sellers - likely encouraged by the fact that prices remain high here in the Boston area - who approach the sale of their homes as if they were buying a lottery ticket or going to the casino They throw out a goofy price in hopes that someone will take the bait and give their children a free ride through college or ensure they can retire in style gambling portal for serious gamblers. Best UK online casinos, poker rooms, bingo rooms and sports betting sites. Safe and secure online gambling in the UK!

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