Why would any bull take this bet?
Place 1 BTC bet on Bitbet, get paid out 3.88 BTC if you are right and BTC passes a value of $5000.
Place 1 BTC bet on the order book, get paid 25BTC if you are right.
People are stupid.
Wait, what?
I bet $5 worth of bitcoin on yes, and if I am right then my wager is worth $100 and the payout is worth $388.
If I buy the bitcoin, but don't place the bet then I get $100 worth of 5k bitcoin.
If the bet fails I am out 5$.
What am I missing?
your 5$ right.