I am a little bit confused, if someone would place a big bet on Verstappen/Bottas, would the odd for Hamilton to win not increase instead of decrease?
Odds depend on total amount of money put on different outcomes.
Let's say there's a basketball game between teams A and B. Till now, 10 BTC has been put on team A and 10 BTC has been put on team B.
Regardless of the time weight multiplier and assuming the house edge is 5%, the odds for each of teams would be 1.9.
If you bet 2 BTC on team A, the amount put on team A would increase to 12 BTC. This causes the odds for team A to
increase decrease to 1.74 and odds for team B to
decrease increase to 2.09.
One question I always forget to ask. Can you win more than 1 prize in a draw with a different ticket? Has that ever happened?
That's impossible. You cannot win more that one prize.
If a user who has already won a prize is picked, calculations are done again and a new user is picked.
Thanks for the good explanation, I think I understand it. It is a different system of betting, but interesting.