Basically it would work like this; anyone not involved in a game can analyse it (as you would if playing). They then come to me (or if I want to make a bet, I could use some other person) and give me their prediction.
It could be as simple as "It's NP1 and I predict, based on DP1 that bluesteel is town" which I would give reasonable fair odds.
Or, you could get down right specific (It's pre-game and I predict F-16 is godfather, royalpaladin is role cop and FourTrouble is roleblocker)
Or, you could bet on something more abstract, like "It's DP3 and medic0506 is claiming to have a tracked drafterman; he visited the only person who was killed last night. I bet that the result is false, but that medic is telling the truth."
You get the point...
Obviously the further into the game, the worse your odds I will give you.
If there is some interest in this, I will put more thought into it... It's an interesting concept. Obviously we won't deal in real money, only DDO-Kredits (made-up currency) of which everyone who wishes to participate will begin with an equal amount.
Captain Hindsight says "You shouldn't have spent so much time on DDO."