I don't think betting on FUN token at 1.01 odd would provide a massive substantial amount of money in profit if you put even huge amount of money on this bet,the reason is that you will get just 1% plus and let's say that you put 1000 dollars on it you will get 1010 dollars in total,if you put 10.000 dollars on it you will get 10.100 dollars so logic wise it is never recommended to try and risk 1000 for 10 dollars or 10.000 for 100 dollars,you get the idea.The bet also can go wrong despite me thinking it will be a sure win but you need like 100.000 dollars to get 1000 dollars,again not worth risking this amount of money for that little profit you get.
In my eyes, there are no "sure" bets so betting on odds like this makes no sense for me. We have had numerous examples (also on this forum) of bets that went wrong by betting on this low odds. Chances that the FUN tokens will go above 0.005$ is indeed very very low, but there is no value for me on it.
You and babygun got me wrong hehe but let me try explain
I wouldn't put that bet anytime, but 1.01x in football is different from 1.01x in dice and 1.01x in this particular FUN bet.
1.01x in football actually pays for something that will lose around 1 in 40 times. For example, City will not win against I don't know, Al-Ahly C team.
1.01x in dice pays for something that will lose around 1 in 25 times if you play on FBC. Because of high house edge.
But to me, 1.01x in this FUN bet will lose around 1 in 100 times. Because it has to almost 20% up now in price within 6 days (after already going up 10% in 2 weeks). That's never happened AFAIK and as I said would require a whale to buy it all in this week. I checked CMC and the best it did was around 12% in 2 weeks this whole past year.
So you guys get what I mean about value?
Rich people see 1% return in government bonds as very high value. The risk is very very low for the government not to pay back to you, less than 1 in 100 chance. So yes, people put in millions and billions in bonds for 1.01x per year exactly because of the low risk to reward and the value.
Measuring the Risk to Rewards ratio also needs to be taken into consideration when we are making bets. This aspect is usually not taken into consideration by many gamblers.
I would not bet 1.01x even on a sports bet too because the risk is too high. As per your calculation, the loss in a sports bet is one out of forty times but think for a moment that it is your unlucky day that you face an upset on a match and lose the bet.
Usually, when people bet with odds like 1.01x they usually put a large amount on a bet because they are sure that they will win the bet. So if they lose, they will lose a big amount of money. In case they put a small amount in that bet, even if they win the bet, with low odds like 1.01x, it's not worth it that we take the risk for such low rewards.