MyBookie has been available over at the Marketplace for about a month now bringing the world of sports betting to your Windows Phone. There is a trial version available, the paid version will run you $1.99 and now there is a free Lite version available.

The Lite version has all the functionality of the paid version except it's ad supported and you have a lower daily betting cap. The Lite Version shares the Facebook integration, just like the full version, allowing you to compete against your Facebook friends, access the game through Facebook and share your bets for payout bonuses on your Facebook Wall.

Hundreds of thousands in virtual cash have been wagered on real world sporting events through MyBookie since its release.  We liked what we saw when we reviewed MyBookie and found it to be an entertaining way to dabble in sports wagering without loosing your shirt. 

If the $1.99 price tag has you sitting on the fence, the Lite Version might be the solution you're looking for. You can download MyBookie Lite here (opens your Zune desktop) at the Marketplace.