Sorta skimmed reading up on it, so apologies if this is offbase:
So if I bet the most on either side I can never lose any BTC (and will sometimes win)?
Will be the risk that somebody will make the biggest bet than you and he will return his bet back, but you will lose yours.
So in theory all of the betting should be happening in the very last second of the timer? - where everyone should be trying to bet as big as possible.