Afaik every provider has its own max bet, even some games from the same provider has different max bet amount. It will be a long list if you want to get the answer unless you mention a specific name of the game. Benefits? There is a chance to win big obviously and if you do big bet regularly then you are on top for the tournament as well as other promotions.
You are right, every game has its own minimum and maximum bet limit. In Live casino tables can also be separated according to the table limits, so you can find general live casino games and VIP ones, designed for the high stakes.
Regarding the benefits, as Bitinity mentioned, a higher bet can result in a higher win. As the amount of bets is also the main criteria for the Live Casino tournament and Vegas Slots quest you will be progressing much faster and receive additional prizes more often.
I want to know more bit specific about the game "Hot Fruit 100" & "Golden Lemon Delux" regarding max wagering.