I think the odd is intentionally high here in order to scare some bettors at 1.49 because it is a sure win
Take note that the odds aren't determined by the house. Freebitco is using
Parimutuel betting system and the odds are determined by the users.
In freebtico, all the money that has been bet on an event by all the users goes to a pool. 5% of that goes to the house and the 95% is shared between the winners.
The odds depend on the total money that has been put on the event, the money that has been put on each of outcomes and the time weight multiplier.
Then it is really high as an odd which I think the users who bet there should take advantage of this.In the case the odd was determined by the house that would have been intentionally high to scare some bettors but since this is not decided by the house then good for the users who will bet on that event.
So when the odd is 1.12 it means a huge amount of money has been put on that certain event by Parimutuel Betting because in normal betting where the odds are determined by the house it means that this is the most likely result to come true or like the gamblers say is the favorite of the event.