Update: This contest is now closed. We will be announcing the winners shortly!

Wits & Wagers is an XBLA game that features trivia with a dash of vegas style odds betting. The game is played with either four or six players in an “every man for himself” style gameplay. Each player chooses an answer for one of seven hundred questions found in the first question pack (by the way, if you answer all 700 questions you get an achievement!). While you sift through questions ranging from the height of the tallest president or the average weight of an adult monkey, you then place a wager on how confident you are that your answer is the best one available. If you aren’t so confident you can bet on any of the other players answers for varying payouts.

This does subject the game to be tainted by cheaters when playing online, but is still pretty fun for a party-like atmosphere. Although, the best part of the game is when you get to make your stick figure-like character dance around by using the right stick on the controller. Nothing is sweeter than doing the robot in the middle of a trivia game.

The game is somewhat enjoyable, so long as you can trust the people you are playing against, and is a good adaptation of the original board game by North Star Games. The key differences are when playing the board game, you can’t cheat, and have to deal with rounding up about 5 other people to play against, whereas on XBLA, inviting people is quick and easy. It all depends on if you enjoy actual gaming nights with a board game, or if you have been spoiled by Xbox Live and the simplicities of the service.

Do you agree with our review? Let us know what you think, and you’ll be entered to win one of three Wits & Wagers packages, which contains not only the XBLA version, but also the board game. Why pick and choose when you can have both? Contest ends Tuesday, May 20, 2008!