Microsoft launches new Refer-a-Friend promotion on Xbox Live

Microsoft has launched a Refer-a-Friend on Xbox Live, which allows Gold members to earn tokens towards one of four rewards.

According to the official rules of the program, you can refer up to five pals per day until July 1, 2011 when the program ends.

Here's what you can collect for referring friends, courtesy of Joystiq:

• Get your free member friend to go Gold and (1) you and your friend will each get 400 Microsoft Points* or (2) 600 Microsoft Points, depending on the active offer.
• Get your free member friend to go Gold and (3) you and your friend will get a multiplayer Xbox Live Arcade game of Microsoft's choosing.
• Get your free member friend to try Gold with a promotional token good for 1 month of Gold, and (4) if your friend redeems the token within 30 days, you'll get 200 Microsoft Points.

Tokens earned through the program can be used to download MS Points until December 31, after which they expire. Once downloaded, though, you have until June 30, 2012 to cash them in.

Don't try and use "multiple or different email addresses, Xbox Live accounts, identities, registrations and logins" to gain more points, as Microsoft will find you and disqualify you from the program.

More information can be obtained through the Refer-a-Friend promotion page on Xbox Live, and official rules and regulations can be read over through this PDF.