The main way I have gotten around these in practice has been to wager non-monetary items, things like “Whoever loses has to file the other’s taxes” The method tends to work much better when you live in the same house (since housework is a very tradeable thing and is always in demand). This obviously has the weakness that it tends to work best for 50⁄50 wagers and is worse at the full continuum. However there are ways around this (\instead of betting on IF something will happen you can bet on WHEN, or you can bet on HOW MUCH ex “I bet 30 guests will arrive at the party tommrow, ” person 2 : “I’ll take the under on that”)
The main way I have gotten around these in practice has been to wager non-monetary items, things like “Whoever loses has to file the other’s taxes” The method tends to work much better when you live in the same house (since housework is a very tradeable thing and is always in demand). This obviously has the weakness that it tends to work best for 50⁄50 wagers and is worse at the full continuum. However there are ways around this (\instead of betting on IF something will happen you can bet on WHEN, or you can bet on HOW MUCH ex “I bet 30 guests will arrive at the party tommrow, ” person 2 : “I’ll take the under on that”)