You're basically describing the core problem yeah. If everyone wins and nobody loses, where does the value come from? It doesn't. It just gets printed until it's worthless. The bet site comparison is actually pretty accurate.

The tricky part is that players don't want to lose money, obviously. So you have to design it so the game is fun enough that people play it regardless. The economy should just be a layer on top. Not the reason you show up. Way easier said than done but that's the goal.