wait so you give odds like 5:1 but if you can't reach the 5 you don't pay out? this is literal scam. It's a shit tier betting scheme.
inb4 chief decides the result based on what nets him the most money like the jew he is.
It literally does not matter to me who wins I already got my share.
Do you not know how event betting works?
Lets say you have 3 people betting on a yes/no question. One person bets 500 for yes, one person bets 300 for no, one person bets 400 for no. The resulting betting pool is 1200 to be paid out.
The odds are determined by the betting pool: The payout for a yes result is (300+400)/500=7/5ths. The payout for a no result is 500/(300+400)=5/7ths.
If the result is yes, the person who bet 500 on yes wins 500+(500*7/5)=1200 for a total of 1200 paid out
If the result is no, the person who bet 300 on no wins 300+(300*7/5)=514, and the person who bet 400 on no wins 400+(400*7/5)=686, for a total of 1200 paid out.
Chief is keeping a cut though, so payouts will be reduced by 15%. Your scenario can literally never happen because if someone bet enough that Chief couldn't make the payment, the odds would automatically go down.