Looks like online betting site PicksPal is beating Vegas odds on sports bets. The site lets users bet against each other for fun on a variety of things like the spread, individual player points, number of fouls/penalties in a game, etc...all for fun - no money changes hands.

It's all for fun, but the company started selling the top picks of its best users in October. For $10, you can get the collective picks of the top 30 users on five games. The idea was that people could use these for-fun picks to win bets in Vegas. The question was, would PicksPal be able to consistently beat Vegas odds, and the spread, with these picks.

So far, yes. By a lot. PicksPal’s overall record, against the spread, has been 562-338, or a 63% win rate. In college basketball, the win rate is 66%. In pro football, 62%. They are even getting a 52% win rate in pro hockey, their worst sport. Some of the recent results can be viewed here. If PicksPal’s win rate over the long run remains over 50% against the spread, they will begin to disrupt the betting markets.

Pickspal also expanded into pop culture "betting" earlier this year, with PicksPop.

This is crazy! Time to place some bets before Vegas catches wind of this.