@hawkeye, if you want to see how people are doing in the prediction league, then click the link in my sig. So far the most won overall is ~2k, which was by me. The most lost is ~900.
You can also earn money by adding screen shots, boxarts, release dates, and game summaries in the database. The top VG$ people on this site all contribute to the database.
The harder way to earn VG$ is to post in the forums.
However, earning it is useless, unless you really enjoy the prediction league, as it is the only place were VG$ matters. For example, I just placed VG$3780 in the latest set of rounds. You, on the other hand, could only place bets up to VG$1000.
EDIT: the next set of rounds for the prediction league should open on monday, and they end tuesday at 23:59 GMT (at least, I think that is when the close)