Yes slaman29 but you shouldn't forget the Time Weight Multiplier which gives you a boost on the final odds, even when it is already low.
The time weight multiplier doesn't always increase the winning amount.
Assume that the prize pool is 1 BTC and there are 100 winners.
If there was no time weight multiplier, each of the winners would get 0.01 BTC.
The time weight multiplier makes the profit of those who placed their bet early more than 0.01 BTC and those who placed their bet late less than 0.01 BTC.
Are you sure about that? Your example is very theoretical, but in reality have you already received one time winnings lower that what you should get from the final odds? I don't remember having seeing that. I don't know how odds are calculated precisely but they take that into account IMO, that's why the cut is high at the end, and even bets with the smallest TMWs are not paid less than the final odds.