Well, 99% of websites work on that way or I'm wrong? When you click you get a fixed odds (I'm talking about huge bookmakers like William hill, bet365 etc), so I think is a normal expectation.
Bookmakers do indeed work that way. This is player versus player betting, not bookmaking.
As I just said:
Bet on the latest events against other FreeBitco.in users and win a share of the prize pool if you pick the winner!
Early bets have a higher weight and will get a bigger share of the prize pool!
I think that made it clear how it worked. There is no mention of fixed odds, it just tells you that the prize pool will be shared at the end which obviously means that your share will also depend on what bets are placed after yours.
We told you how it worked.