I have bet on very high odds before in football matches but I have not tried it before in casino games. My experience in football about betting on very high odd is just like waste of money because I have no luck there and it is worse than going for moderate or lower odds. So I prefer to just make my analyses and bet on a stronger team that I know would win the match than to bet on odds that looks like impossible.
Betting on high odds and winning takes a lot of luck to work out especially when you are talking about odds of over a thousand. I remember betting on basketball games randomly with no analysis whatsoever, the odds accumulated to over 900+ plus, I knew my predictions were not solid so I placed the bet with 18 naira knowing the outcome would probably be negative, to my greatest surprise I ended up winning
In my opinion, betting on high odds is like handing an immediate advantage to the bookmaker, and it's essentially throwing money away. Few people have ever been lucky taking such risks, although I don't deny that it can also bring its own excitement. Gambling is fundamentally about having fun, sometimes people cast aside all analysis just to test their luck on a given day.
Nevertheless, betting on high odds might serve as a simple trick to anticipate potential upsets, and as is well known in sports betting, these happen quite often. The most important thing in gambling is not to exceed your limits, don't let your guard down, because gambling does offer an exciting thrill. In general, every gambler will essentially still choose to bet on low odds, even though the winning amount seems small.