Yes, it is true that if we want to win something, we have to take risks to get it. We also need to realize that the higher the risk, the more likely we can win something, but that does not guarantee that we can get it because, in gambling, there is no certainty after playing gambling. In the example you gave, the popular soccer team will only sometimes be able to win if the underdog soccer team has something that can turn the direction of the match so that they can win the match. This has often happened to many teams, so we must understand that a match will have a surprise factor. If we want to avoid higher risks in gambling, we don't need to place bets with a lot of money and only use enough money so that if we lose, we won't lose quite a lot.
Of course, as with anything that takes risks it is never possible to achieve a successful outcome in gambling. The point I want to explain here is that if bets with low odds are preferred the potential probability of winning will be higher but the gain will be lower. On the contrary, the risk rate increases and indirectly the winning possibility decreases. For example, a sports bet with odds of 1.01 has a very high probability of winning but the return is 1% and there is a low probability of not winning. However, in a sports bet with 5 odds, the probability of winning is low but the amount of winnings is quite high. Again, in this case there is no guarantee of winnings. As someone who has previously lost a huge amount of money in sports betting with odds of something like 1.10, I make this comment with confidence.
That's right, because to win you have to be brave enough to take risks, but you need to pay attention to this, don't dare to take risks but don't consider them well. Most gamblers dare to take risks but don't think about the future, where they can't accept the reality of the loss that will occur. They tend to only think about winning, by placing large bets because they think that way they can get a bigger win, but they don't think about losing money which might be faster.
The risks involved in gambling are certain, and victory is also certain, but victory will not be easy to obtain. The bigger the bet they make, the bigger the risk, everything in gambling is related to risk so it is not surprising that many losses occur in gambling because it is bound to happen.
True, it is necessary to take more risks to earn more but managing this risk correctly is of great importance. Chasing bets with high odds and evaluating all possible bets isn't a correct risk management because in case all of them lose, the loss amount can be very high depending on the number of bets. Also, just as you mentioned, it is important to remember that there is always the possibility of losing when taking risks in gambling. For this reason, it would be a huge mistake to bet by only thinking about the profit to be achieved depending on the winning rate.