I am a little bit confused, if someone would place a big bet on Verstappen/Bottas, would the odd for Hamilton to win not increase instead of decrease?
Odds depend on total amount of money put on different outcomes.
Let's say there's a basketball game between teams A and B. Till now, 10 BTC has been put on team A and 10 BTC has been put on team B.
Regardless of the time weight multiplier and assuming the house edge is 5%, the odds for each of teams would be 1.9.
If you bet 2 BTC on team A, the amount put on team A would increase to 12 BTC. This causes the odds for team A to increase to 1.74 and odds for team B to decrease to 2.09.