The data part is still a bit puzzling to me, but intriguing. I still am not sure I understand the concept of getting more transparency (e.g. the data of who is betting on either side). My admittedly gut-response to the two examples:

a) Betting with the crowd - surely the team that is favored to win is the team with the "crowd" on its side, right? That's how the line on the game is established in the first place...

b) Matching the bet of a smart friend - this makes sense to me, that if a friend or expert can "beat the market" you could follow along.

I guess my uninformed skepticism is based on the idea that it would be hard to produce a system that could predict sports outcomes more reliably than the market. If such a system worked, wouldn't it destroy the entire gambling industry?

E.g., if such a system worked well, and could reliably beat the market, more than helping people follow along good bets, you could just make a bazillion dollars betting on sports games. Monetization strategy solved ;).