After rereading my post above I realized that I described something that can happen only in a parallel universe. The max profit on bet on freebitco.in is 20 BTC, so you can't actually win 160 BTC in one bet.
But now I'm wondering is there a limitation on max bet amount, or is it theoretically possible to bet 2,000 BTC with 94.06% win chance and win 20 BTC, taking the 1st place in the wagering contest in the meantime?
Yes, you can bet 2,000 BTC at 1.01x if you have the balls to do it!
In order to bet 2000 BTC you first gotta have it and belive if anyone would own that much bitcoin