Personal bets

OK, so how about a site like Betfair, except that any person can create any event that others can bet on? You can offer things like whether you’ll pass your exam, have a boy or a girl, whatever you like. For each event created, it could be set whether the creator is the ultimate person to decide the outcome, or if the bettors don’t agree with the outcome, then they have the possibility to appeal to the supreme court of the betting site to judge (for which service the loser would have to pay extra). So if you offer a bet that Trump will be the next president, and you set the event outcome to no, then the people who’ve bet can appeal, and in this event the price of the service would be probably cheap. If your offered bet is whether you’ll have a hangover tomorrow, then probably appeals make no sense and anyhow only the people who trust you would bet on it. For these trusted bets, users wouldn’t even have to deposit any money to the site, they can just pay each other. The betting site would only offer the interface of offering odds and betting. One could also bet on the correctness of announced solutions of mathematical conjectures, for which probably some trusted body of mathematicians could be the ultimate judge in case of disagreement.

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