Peer-to-Peer Betting is a system where individuals can place bets directly against each other, rather than through a traditional bookmaker. This approach allows users to set their own odds and terms, creating a more personalized betting experience. Participants can choose to accept or reject bets based on their preferences. In this model, a platform typically facilitates the transactions and ensures fairness, acting as a mediator. This can lead to better odds for bettors, as they are not limited by the margins set by bookmakers. Additionally, it fosters a community of bettors who can interact and share insights.