image, a new site that will offer online gamers the chance to play for cash, has been unveiled and is now taking signups for its closed beta test.

The site will offer both one-on-one and multiplayer tournaments across a range of games for the Xbox, Xbox 360, PlayStation 2 and PlayStation 3, including titles such as Halo 3, Resistance: Fall of Man, Madden 08, NBA Live and many others, with new titles being added to the mix regularly. The service will also feature an “unprecedented array” of social network features, as well as a quick and simple challenge process for competitive gameplay, automated results verification and stat tracking, dedicated game lobbies and a Gamer Training Institute that will allow players to hone their skills without risking their cash.

William Levy, president and co-founder of World Gaming, said, “Playing videogames for money is not a new concept and has been going on in living rooms and dorms for years. is simply facilitating that idea online, which opens up the competitive gaming landscape in a massive way.”

“I think every gamer has been fascinated with the allure of winning money by playing videogames,” added Zack Zeldin, World Gaming vice president and also a co-founder. “Whether it’s to tell Mom, “I told you so,” or to go on and become the next world gaming champion, our community is about people who love gaming and have the skills to put their money where their game is!”

Since the system is based on “games of skill” rather than “games of chance” featured in typical online casinos, is not considered a gambling service and is therefore legal in over 130 countries worldwide as well as most of the U.S., where online gambling is illegal. More information as well as a link to sign up for the beta test and a $50,000 tournament is available at the website.

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