Abstract: Embodiment's of a method and apparatus for networked social, belting include a self-arbitrating belting subsystem that facilitates betting among users of the system. Users determine all aspects of a proposed bet, including subject mailer, terms, conditions, and participants. The system tracks and stores bet information, both current and historical The system communicates with one or more financial institutions to facilitate payments from one user to another in settlement of bets, but does not provide banking services or participate in bets. Aspects of the method and apparatus include storing friends lists from which users can choose other to invite to bet. Users can also post bets on many social media platforms to let others (even non-users) know about the status of bets, or to invite others to bet. Aspects further include a method for maintaining a reputation measure for users that is based on whether users tail to resolve disputed bets, or act in any other undesirable manner.