March Madness Office Pool, Web 2.0 Style

PicksPal, a fantasy sports betting site, is launching a March Madness game this morning.

Picks are made via an Ajax interface by clicking on the winners through to the Final Four. Once you’ve selected winners for all of the games, you can invite friends to participate as well, and create a widget showing your picks to put on a blog or social networking site. Users can also set up private leagues to compete directly with friends and office workers.

There are a number of prizes that the company is giving away each round (iPods, Nintendo DSs, Slingboxes, PS3s 37″ TVs and two Mini Coopers) . If anyone you’ve invited wins any prize, you get that same prize as well.