All you are asked to do in return is register at the Gaming and Giving For Good website, tell all your friends about it so they can donate to support Extra Life, who is a a Children’s Miracle Network Hospital fund raiser and then play your favorite games for up to 24 hours on 01 October 2011.

You do not have to handle any of the money donated as it is all managed directly through a unique website you create at registration to handle sign ups and donations from your family and friends. 

The charity is an organization that supports 170 children’s hospitals across North America. G3 will harness the power of millions of members on Xbox LIVE, the online entertainment network for Xbox 360, encouraging participants to raise money donated from family and friends for every hour spent gaming online. As part of the event, all participants will register at and receive a free Xbox LIVE Gold Membership for the weekend to play their favorite games. Xbox LIVE Gold allows users to play games online with friends and family and receive exclusive discounts on Xbox LIVE content.

“We are inspired by the support from the gaming community and how it has rallied around our Extra Life programs to support Children’s Miracle Network Hospitals,” said John Lauck, president and CEO of the Children’s Miracle Network. “We’re honored and thrilled that Xbox is helping the Extra Life fundraising effort with its G3 event on Xbox LIVE.”

In addition to the event on Oct. 1, Xbox will host a series of Game with Fame activities the week of Sept. 26 at the G3 Miracle Lounge in Los Angeles, where Xbox LIVE members will have an opportunity to play video games on Xbox 360 with celebrities.

If your already an Xbox Live Gold member then you can still sign up and support the charity event and spend 24 hours doing what gamers like to do – play games – and for a good cause.

Source: Xbox 360 Announces Gaming and Giving for Good (G3) Charity Event to Raise Money for Children’s Miracle Network Hospitals