He did need 1 million dollar simply to make a one time 50k return, and it also seemed like it took considerable effort to do it. I don't know how many people with that money also have the know how, are aware of these betting markets, and care much that they'd make an extra one time 50k.

I think it'll be interesting to see how crypto based betting markets evolve and if regulations will strike them or not. I don't really know what to think about people simply full on gambling on whatever world event, is that a good thing?