Could the transaction explained here be used almost like a general exchange where people would deposit their BTC only to convert it to Euros which they can withdraw?
not sure if I understood you correctly but you mean using them just to convert your BTC to Euros then withdraw it later ?
if so then that's not the case , I'm not sure about odyssey but other brokers don't tolerate that and will ask you to wager your deposit before being able to withdraw so in other words you can't just use them as a btc exchange
basically it's an exchange so you do exchange your btc to euros , but you have to bet with these funds
if you are a good trader you can benefit from that like depositing after pumps and start betting then withdraw when price goes down , but you do have to bet
I remember premium tradings when I tested their site and didn't like it so didn't bet that much , I decided to withdraw and they charged me 25% because I didn't bet enough
"The amount (stake + winnings) of the largest market settlement of the last 24 hours is not available for betting, transfer or withdraw. This means that you can only withdraw your entire bankroll if 24 hours since your last settlement have passed. Only the largest settlement is considered, other settlements have no influence on your available funds."
The problem is some didn't notice that this rule exist.
Also they are "the best" because there are not that much exchange book in crypto yet. I never saw any book that took this long to proceed deposit, withdraw and grade bet except Fairlay.
I guess you are talking about the on hold rule ? you can disable that by paying 0.1% extra fee on your winnings and can withdraw or bet again after your bet is graded so you don't need to wait 24 hours
they aren't the best place indeed but still better than many other options , personally I would love to wager btc directly rather than converting to euros so the only thing I use brokers for is horse racing due to them not being widely available in bitcoin sites