It actually makes a lot of sense. Why? In the previous elections, Clinton was projected as the clear winner through all the polls and the popular vote seemed to be in her favor, but majority of the world were shocked to see Trump win in the end by conquering key areas.
This is why many bettors are betting big money on Trump since he has succeeded as an underdog in the past. I feel it's 50-50 at this point between Trump and Biden.
I have never said Trump will lose, I wouldn't know that, I am not a political science major nor have any type of credibility when it comes to guessing election results neither, I wouldn't trust my own guess let alone someone else should. What I simple said that it is way too close to risk that much money and I am 100% sure it doesn't matter if you think Trump will win or Biden will win, you should realize that it is close, it is not going to be like some candidate will get 450+ or whatever, that is not the case at all, it is going to be deadly close no matter who wins.
This is why it doesn't make sense to bet on Trump 130k+ dollars, does it make sense to bet 130k+ on Biden? Doubtful, but at least he is seen as the favorite right now, doesn't mean he will 100% win but at least he has a higher chance, whereas trump does have a chance to win but it is lower than Bidens so putting up that much money on the underdog is just way too risky for me.