By increasing means the chance of us losing is twice higher. Let say with 0.01 btc and wagering 500sat, you can get 2000 reward point and by increasing it to 1000 sat and reward point is double you will get exactly the same reward? So what is the point of having this double reward then?
I'm not sure if I understand correctly what you mean here
As I understand it, your reward points depend on amount wagered and that has little to do with odds as such. For example, you can set the bet amount to 0.01 BTC and lose all at one go (earning 2000 reward points). On the other hand, you can wager only 1000 satoshi and bet this amount till your balance is gone. With 5% house edge that will take something like 20k rolls earning you around 40k reward points
And this seems to be the maximum you can squeeze from your balance if your goal is to earn as many reward points as possible. If you want to get rid of variance completely, you may have to lower your bet amount, but this won't help you earn substantially more (will just take longer)
. Honestly, I couldn't even figure out the connection to sesame street even if I tried 
