Keep online betting aside for a while. Every day crores exchange hands, from gully cricket to national politics predictions, and all of it settles only after the result is out.The real problem is it runs purely on trust. Will the other person actually transfer after the result comes out, that's the big challenge. We can't control it, but we can organize it with an escrow model, where two people put in their money and it settles to the winner once the result is out. This solves the audience's trust problem, and as an entrepreneur, tracking the real money flow this way opens up a much bigger business.