Take a punt on the movies

Think you know how much the Clash of the Titans will gross at the box office? Reckon you can predict the success - or not - of Uma Thurman's latest film, Motherhood? If so, the Hollywood Stock Exchange could be for you.

Backed by Cantor Fitzgerald a major US brokerage this new exchange will eventually allow members to trade against each other using live futures contracts, settling up in real money. For now though, you can practise in the safe environment of a virtual trading platform where the only thing that will suffer if a bet backfires is your ego.

At hsx.com you are credited with H$2m that's Hollywood dollars, the currency of the new virtual exchange. Then you pick a media event you want to bet on this could be anything from the success of a movie to the number of episodes you think a new US TV series will run for. Then you buy "units" betting either up or down.

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For example, film box-office takings are quoted in millions on the site. So if a movie is expected to gross $70m, the price quoted will be $70. You might buy 100 "units". That means you have bet around $7,000 (100 x $70) of your original $2m credit on the takings exceeding this figure.

Equally, you may think the film will flop. In which case you can sell, or "short", it. As the price moves up or down from $70, so does the value of your stake on the outcome. The further the box office takings move from your starting level by the time the film cashes out usually four weekends after it is released the bigger your win.

For now, all you can win or lose is virtual money. However, get a few bets right and you'll be heading for the top of the leader board. And you'll be getting yourself battle-hardened for the launch of the real thing next month.