It says you can create an event. I can only assume we as users can post something and allow people to bet. It all depends up to us what sort of. You can try election where users can bet which candidate could win in the election and you can bet as well. Or you can create a boxing match like in sportsbetting, seem decentralized to me if this is the case.
right.. the concept that the OP has to offer is more decentralized. for example today there is a match schedule MU vs Chelsea, then I open a betting room for the match.. everyone can make their own bets and become a moderator, this seems like a good concept. CMIIW