Its simple to me, everything in this world is based on chance and for that reason someone can win and another can lose simply by making a try. Right on this forum, I have seen a bet site that allows you predict the last number of your transaction id and if you correct, you win big and when you wrong, you lose all. its as simple as that when you are ready for it, just go with for it. But I am sure they will have a particular exchange site to serve as a model for their use...
The risk for these kind of betting is really high and with the high volatile nature of bitcoin you never know what the price would be even at a time gap of 5 minutes.Most gambling sites have a house edge which is much lower risk than predicting the price of bitcoin for a very small amount of time.With a service like that even the exchange can manipulate the price of the coin if some huge amount is wagged .
