On sportbooks, I have noticed some odds lower than 1.1. I definitely know that if people are not going for such low odds, bookmakers would stop adding such low odds. Even 1.08 is still better (understand me correctly, I am not saying it is better), I have noticed odds like 1.02 and 1.01. On in-play (live matches), I have even noticed 1.001 up to 1.005 to be included. Why are people going for these kinds of low odds?
Assuming I have $10 to bet with this week, going for 1.02 odd, the profit is $0.2. That means I have to bet 50 times of the same 1.02 odds to get $10 in return. But my $10 betting fund which I could lose in just a single bet. Is it worth it?
I am thinking it does not worth it at all. Why are some people going for non valued bet of such low odds? It would only encourage them to increase the amount of money they stake on a bet and yet losing it at once is possible. Not a good strategy at all.
What is your opinion?
You're right that as an individual bet, there's little reason to take this sort of risk. However, if you think you have a few "sure things" in the mix, you could benefit by combining them with other bets to give you a much better possible outcome. This adds additional risk to your bet, but it's a strategy I've used on occasion when I think a game is in the bag. There's also with live betting the option to bet with these sorts of odds near the end of a game when the chance for a loss is almost 0.
Betting with those odds before a game on a single bet though... Seems like not the best idea.