Entrepreneur Sir Richard Branson has a new business venture - a website allowing console gamers to organise competitive matches, enter tournaments, and win cash prizes.

Virgin Gaming promises to become a destination for competitive gamers who want to compete in tournaments from home.

Xbox and PS3 gamers can use the website to compete over the net for anything between $1 to $1,000 a game.

One of the venture's co-founders, Zack Zeldin, tells Dan Simmons about the game's "fair play" guarantee.