Bitcoin Forum

im planning to create a betting website, and i would like to know whats your opinion about it. is that a good, interesting or neutral, or bad idea.

the site goes like this..it will follow the real world stock exchange price. for eg: dow jones index yesterday price closed at 15,000 points.

and today when the market opens, participant at my website will be able to place their bet.

there are only 2 outcomes. either dow jones will close the price today at higher or lower than yesterday. so participants at my site place 1 dollar bet lets say will close at higher than yesterday...while another participants is betting will close at lower than yesterday

now the time comes.we wait throughout the day and market is closed. so assumed if closed at higher.. the participants which placed their bet
at lower will lose the money. winnings will be transferred to those placed at higher.. and my website will charge a bit fee of the winnings.

what do you think? thanks

if player placed their bets..and nobody place the opposite. their money simply will be returned, and nobody lose and no ppl win either. my site wont charge anything for it either. ppl can just place their bet on other stocks or wait until tommorow

The topic title is a bit misleading. It says" New betting method, what do you think?"

But the thread is about a new site.