RBS failed because it contained a portfolio of financial assets that overnight became valueless. That value just disappeared. I don't see how that situation is

RBS failed because it contained a portfolio of financial assets that overnight became valueless. That value just disappeared. I don't see how that situation is related to a company whose revenue stream is a commission on bets placed. If the number of bets placed is zero, Smarkets doesn't end up with an asset that goes from billions of dollars of value to zero, and creating a massive black hole in a Balance Sheet.