I believe people who gamble on sports may understand this better since sometimes in sports betting some gambler's prefer to go for the smaller odds that usually have a higher winning chance and sometimes they can still end up a losing game however some prefer to go for the big game with big odds and smaller winning chances.
That's a bulletproof way to lose money.
Higher odds mean just that the event is more unlikely than a lower odds one, it doesn't mean that betting 1000 times on 1.5 odds will for sure beat betting 100 times on 5x odds.Chasing odds is foolish, chasing the value behind those odds it's a different thing, and that's what professional gamblers do.
I always still believe there is nothing called professional gamblers or bettors or whatever they are called online. This is because many of them that said they are professional either have other means to make money and they do not need to depend on gambling at all, but while gambling, some fall into trouble because they are not able to manage their money appropriately or because they thought they are professional gamblers. But when that thing will hit them, it will not be easy at all. The gambling sites sets all the odds in favour of themselves (the gambling sites).