This is an interesting twist on the whole social networking space. It provides users with a place to place and manage small, friendly wagers. Not only can you browse interesting bets, but you can also make a bet, create a new bet, as well as a whole host of “given” social network activities.
This is how it works: Users set up bets, either for actual money or for the Gottabet currency (called “peanuts”) which have no cash value (but give bragging rights). Gottabet (UK based) is also a social network - all users have a profile page. Users are rated not only by how many peanuts they gather but also on their reputation.
If you are in to friendly wagers, then this site is worth checking out!