Most Facebook games are designed to make you buy virtual currency and spend money. App Genius has released a new Facebook game, My Mad Millions, where you can actually win money. How? By being best at losing virtual money. It’s quite confusing but dare I also say it, genius?

Here’s how the game works:

You have inherited $300 million in virtual currency and your goal is to be first to spend it all. You can rent out mega mansions, make bad bets on the stock market, hire your friends in your entourage, or whatever other way you can lose money.

Honestly, in the past few years I have gained more skills in wasting money than growing a garden, so I figure I should be good at this game. It’s also the premise of the Richard Pryor film Brewster’s Millions, but I’ll get over that for now.

The second clever twist is that you compete with your friends and other players on who can lose money the fastest on the leader-boards. App Genius will share 50% of the game’s revenues (via redeemable Black Diamond Titanium Reward Cards) with the top 20% players.

Sharing the games revenue with game players is a neat twist and could help this game go viral. If this works, and if the game is good (all big “if’s”) expect companies like Zynga to copy this pay back the game players formula.

Be first to check My Mad Millions now and set an alert to follow the game. Our review comes soon.