Hi!

Question about wager processing with the bitcoin network. If at any point in here you know which resource to which to direct my attention, please do. I've done some research but I'm certain to have missed something.

Bombs away!

I want to take bets on the outcome (binary) of an event and have have my payouts publicly verifiable.

I create a wallet for each outcome. Customers place bets by transferring coins to the wallet. At the conclusion of the event, I transfer all coins from the losing wallet to the winning wallet. I then pay out to the bet winners from the winning wallet.

Questions:
 - Does this method guarantee that the network can audit my honesty in bet processing?
 - Is it necessary for me to send coins from the losing wallet to the winning wallet in order to prove my honesty?
 - What other ways would you suggest setting up a high-trust wager clearinghouse?

Thanks!
ikb