Yes taking risks can result in possible rewards, but it's important to note that not all risks are the same. High risk situations don't always mean you'll get bigger rewards. Making not wise decisions means looking downside and thinking about the odds before stepping into uncertain situations. If you gamble on a lower league football team the higher risk could mean a higher reward but it also raises the chance of losing. Finding a balance between risk and careful analysis is key for long term success in different parts of gambling.
I think the exact situation you are explaining here actually has something to do with capital management because calculating possible risk possibilities and using the budget effectively accordingly actually means capital management. For example, using a budget of 5,000 units for a sports bet with odds of 1.01 and using a budget of 0.5 units for a sports bet with odds of 100 will result in the same profit at the end of the day. The most important point here is to use a high amount of budget to evaluate a low-rate possibility and this is actually related to budget management. Moreover, according to the example here if both possibilities don't come true, there will be a loss of 5,000 units with one bet and 0.5 units with the other bet. So, as I mentioned you are talking about capital management in conjunction with risk management.
The example with teams in a cup match is so simple, firstly, it will not be easy for a weak team to win such a match, so the risk in this case is too great to risk a lot of money.
There is always enough risk in gambling, every time we play, we take risks, no matter which team you bet on in this cup match, there will be a risk of losing. And in a cup match this can happen more often than usual, because coaches of strong teams often give players from the bench the opportunity to play in cup matches in order to prove themselves on the field.
Of course, the probability of the weak team winning this match and naturally the probability of betting on this team to win is quite low but in such a case I don't think that any gambler would use his/her entire budget or a large part of his/her budget in favor of this team. For example, let's say a 20 odd bet is placed on the weak team. Someone with a budget of 100 units will definitely not use more than 10% of their budget for this option. This means earning more profit by taking high risks with a low budget.
For example, let's say there is a match between Barcelona and a third division team and the odds are 1.02 for Barcelona and 25 for the opposing team. In this case, you would choose to bet 5,000 units on Barcelona to get a profit of 100 units while a bet of 4 units on the other team would be sufficient. So, using a much higher risk and a much lower budget will also help increase the potential profit.
I love the first statement you made if you do not take risk then you should not bother coming to gambling when you take high risk then you get a very high potential and does risk the kind of risks that can make you a millionaire, i gamble without been scared and I don't bother or care about what people will say and precisely i gamble on my phone so you wont know whether am gambling or not. and with the example you gave there are some games that you don't need a magician to tell you whether they will win or not there is assurance on a particular clubs you will know that they will win, with games like this you can stake high and get good money out of it. selecting games that am sure of makes everything more easy for me then I don't fear while gambling. and always gambling with fear wont help anyone in this journey of gambling. cross the limit and i assure you will make your money back, with time.
Certainly, especially in sports betting the possibility of potential winnings increases by choosing teams with low odds and high popularity and such options generally make the gambler feel that he/she is gambling more safely. Of course, there is never a certain outcome in gambling and therefore there is no guarantee of winning but profit can be targeted by minimizing potential risks with the choices made.