I tried a few hours ago to make some money with the ranking system, by making low risk bet of ~4 usd. Just lost 8 to get 1 or 2 usd for ranking up.
So in the end it is quite hard to earn money in those races, somedays you win and some days you lose.
Yes, that happens in the game with provably fair system, in those games sometimes a player gets lucky and wins more amount than what they bet and sometimes they lose some money. However, the ones who're very lucky end up making 10x to 50x or even more with such bets. It's not easy to win money in those races but the ones who love the games often try again and again, and after some good tries they not only make money with their bets but also become part of that daily race and earn rewards there as well.
This is the very essence of gambling, so you have no assurance when will you hit your luck or not. So if you feel you are not lucky, better stop while you haven't lost a lot yet. Races are one of the interesting games in any gambling site. But you also need to know when to stop because it can easily liquidate your position.
Also, if I may suggest, the l0tt0 owners should think of other contests that will attract more players on their site. Because if you will check the dashboard, the number of players are not the many. Also, they may modify the 40x wagering requirements here because it is quite high, given that they want to entice new players on their site.
the 40x wager requirment is only on balance matches (which is not that high)... if you come to the site and deposit money, there are no wager requirements. its only if you depost $100 and want to match it to play with $200.