When you propose a bet, one of the initial amounts (the smaller one) gets tied to an address you supply. If that bet wins, you get paid. At least that's how I understand it works. I've proposed two bets that haven't been resolved yet.
The first is on the
MLB Season opener between the Astros and Rangers. I proposed it with a rather high ending weight to keep it attractive up until the bet closes to attract low information bettors who might think the Astros might actually win and more sophisticated bettors who might spot an arbitrage opportunity, but would be turned off if the weight dropped too much.
The second is
a World Series bet I made drunk when Stan Musial died. The weight on this bet drops as far as the site allows, but it is also open potentially through the second game of the world series if the Cardinals drop out sooner. I opened this bet with the a bit of a hedge, because this is probably going to attract more action as the season goes on and the weight is dropping low eventually.
I've proposed other bets as well, but I think as a matter of etiquette a guideline I follow is that the less time a bet is open the less I am going to let the weight drop. With the exception of bets that could be resolved early
such as this sort of bet (not one of mine), in these cases let the weight drop aggressively to not too richly reward people who throw their bets in when the future is all but certain.
