Microsoft has announced the May 7 release of Wits & Wagers on Xbox LIVE Arcade. The game is based on the award-winning board game and sees players combining social skills and betting with trivia knowledge.

Just because the game features trivia questions, it doesn't mean only the most knowledgeable players can win, with it being possible to win by making an educated guess, playing the odds or just by knowing the interests of other players.

Wits & Wagers features support for the Big Button controllers (included with Scene It?), with up to four players able to play together on the one console. The game can also be played online with support for up to six players. There's also support for the Xbox LIVE Vision camera.

Wits & Wagers will be released on Wednesday May 7 priced 800 MS Points.