How does the betting work?

Betting on GTA Online seems to be pretty temperamental. At the start of a race or deathmatch I may put some money on. Some times I’ll put the whole available amount ($10,000) on, but when the session launches I’ll get the, “Not enough bets placed” message. Some times, I can put just $100 on I’ll then see at the end of the match how much I made/lost based on the odds and whether the player I bet on won or lost.
So what is the prerequisite for a bet to go through? As it doesn’t seem to be the monetary amount. Do a certain number of players need to place bets , meaning if I’m the only one betting it doesn’t bother?
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How does betting on a game work?
You place a bet on a sporting event and win a set amount of money if the team or player you bet on wins. If the team or player you bet on doesn't win you lose your bet. You can place a wide range of different bets and find many different places to bet and ways to make the bets.What does a +7 spread mean?
What does +7 spread mean? If the spread is seven points for a game, it means the underdog is getting seven points, noted as +7 on the odds. A team posted at -7 is the favorite and is laying seven points.What do plus and minus odds mean?
The Money Line: Odds for a game based on $1. A "minus" (-) preceding the number indicates the team is a favorite. A "plus" (+) preceding the number indicates the team is an underdog.What does +4.5 in betting mean?
Over 4.5 Goals Explained Over 4.5 goals in a bet means the punter predicts that the total goals scored by both teams are five or more. A player that places an over 4.5 goals bet in our example will win if both teams score a total of five or more goals.Basics of Betting | Episode 1 - How does betting work?
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