Xbox update converts points to real-world money

Microsoft has launched the latest Xbox 360 dashboard update, converting Microsoft Points to real-world money.

All players have to do is switch on their Xbox 360 and then they'll be prompted to download the new update.

"When you go to initiate a purchase or redeem a Microsoft Points card through your Xbox 360, we'll add to your Microsoft account an amount of currency equal or greater than the Xbox Marketplace value of your Microsoft Points," said a Microsoft statement.

"We'll also continue to accept purchases Microsoft Points Cards and codes until further notice."

The platform holder is also planning to release 'Xbox Gift Cards' worth real-world money in local stores and online.