This addon allows the user to open up betting to all group/raid members on who will be the first to die in the next encounter. After the encounter is cleared or the group is wiped it will whisper the payouts to everyone who won or lost money.
FYI: This type of betting is allowed by Blizzard ToS because it involves skill and not luck. This addon only tells the players who to pay and what to pay, it does not enforce the actual payment or keep track if people are paid.
PS. This is a very crude addon with limited features.