Of course, this rarely happens, more precisely depending on luck. However, sports betting certainly requires prior research on the team we will choose, we can't just place crazy bets on any team we will bet on. Unless both teams are equally strong, it is possible to place a big bet because the winning result depends entirely on luck.
The crazy bets like Op said have big odds but would hardly play as predicted. A friend once mentioned to me that he placed a bet on his team to make the first throw-in and to his surprise they never had an opportunity for that till almost the end of first half. So, the crazy bets probably pays out big but the chances of winning are not there.
The chances of winning a crazy bet is very rere but the odds are very big compared to normal bets, but when you are lucky it pays very big. However sometimes gambler need to bet on crazy bets because we even lose the normal bets. So sometimes it's better to take the chance an hope to get lucky. However before doing that, must risk with what can be afforded to lose. A gambler that bets on a crazy bet shouldn't wager big money because it's very hard to be lucky.