There are alot of people that actually can afford it but alot of people dont really follow this kind of stuff
Someone has been constantly betting 100 doge at 1.02 multiplier with autobet which probably is for the daily race, thats a sign that it is actually profitable or either it could be EV+ to wager like this for the race. This player probably not gonna win the 1st spot but atleast with 5 places paid with minimum of $50 prize, thiere is a good chance that he might win something therefore he wager with strat like this
That is a risk free wagering because he will not be able to won big amounts with 1.02 multipliers, but will only increase his wagering amount for the contest.
Do you think this is the right way to enter in the contest or these people are just exploiting this loop hole in wagering contest ?
It is not a risk free wagering even if you bet with the lowest possible multiplier, there is still a chance to lose your bets.
You may say it is a safe way of wagering but if you do not continuously, you may end up with a big lose as you need many win bets to recover a single lose bet.
It is just a strategy to wager as much as possible, other users may use different strategy. I can say there is no loop hole in this kind of contest.