+1
I have wanted to do this on many occasions.

 

Edit? no, some player gets hurt, let me just take out most of my money so I don't lose all that much....

Add more funds without going over 1m? +1

 

-1

I can easily see people taking advantage of the ability to edit bets.

 

Definitely will not be able to edit bets, as there are inherent risks in betting etc. One potential would be to allow you to make 2 different bets with a maximum of 500k each, rather than 1 x 1mil bet. That would mean you could place 1 bet and then decide on the rest later, but would prevent you from undoing your first bet.

The obvious downside to that is that it would either make the medals more difficult to obtain, or we would have to slightly alter the requirements for the medals to potentially allow 2 separate bets (of course both on the same outcome of the same event).