The concept is this:
The site is like a classified site but instead of people selling coins, books, computers etc people are “advertising” bets. There should be a possibility to place a bet on many sports and events.
The main point is: Think of it as a classified site to make it simple. There is an attached file with detailed info that you should read before you bid.
We had a programmer on Scriptlance do this site for us (www.gamble2day.com) a couple of years ago but it has a lot of bugs and is not functional. If you think you want to re-do this existing site its ok. What is important is a simple site with the functions we want and a nice and clean/modern design.