The problem with this model is the following:
You place a bet, you know the stakes laying on the different outcomes of an event and think your winning chances are good in relation to what you might win IF you win.
But AFTER you placed your bet many other people might place further bets on the same outcome as you. So IF you win then you must share your winnings with more competitors. In a bookmaker scenario that would mean the odds decrease. But the bookmakers assure you the odds you got when placing the bet are fixed and will NOT change when other players place their bets after you. But here you can never know which odds you get because it depends on participants who place their bets later.
True with a book makers but if you bet at the totes in a racetrack this is the model that they would follow as well.
It's a betting pool with shifting odds depending on what money is coming in from the punters.
The odds could be very different to the bookies for the same even if the bigger money is going on a different outcome. but your point is fair and noted.
Our model might change over time as the site evolves and we hopefully gain more users as this is just V1 of the site and of the prediction markets so we will definitely be coming back around to how it all works when we can see more outcomes.
Thanks for the feedback.
Thanks for your reply and for considering my concerns. Good that you are offering sportsbets here!
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