Escrow betting: Peer-to-peer wagering without the house When you think of placing a bet, you likely envision a huge sportsbook or a trusted casino like Gamdom holding your funds, setting the odds, and taking a small share. This setup has been the standard for years, where the 'house' controls most of what happens. Key Takeaways Peer-to-peer (P2P) betting allows you to bet directly with each other, without needing a bookie or betting site to set odds or handle payouts.