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I think this will go beyond sports betting and allow people to wager on custom events, but ekzyis can correct me if that's wrong. I know he's also interested in political prediction markets.
Yeah, sports betting is just one use case for "using money to determine information quality" (as mentioned in SN's job description).
Still need to look into how sport bets usually work. Maybe a prediction market is too general, and sports betting is more a prediction market with limited functionality. So I intend to build a solid foundation on which other stuff can be built on top.
Are you allowed to sell your bet to someone else? Or do you have to commit to a bet and then sit it out until the end?
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I don't think you need to restrict yourself to how sports betting usually works, but generally you are stuck with the bet you made. Having the option to sell it just makes it better, as far as I can tell.
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