You can think of it in terms of rates. For example, if you think some event has a constant chance of happening of 5%, you should bet for durations >13 years (for p>0.5). If your counter-party thinks the rate is instead 3%, then the duration is >22 years (for p>0.5). This means that two people with these two beliefs have a zone of possible agreement for making a bet in the time period of 13 to 22 years, where exactly it lands depends on the negotiation.