Well, you just spoke my mind. Gambling is a form of entertainment at the very first place, and if that is missing, you will not enjoy it. Although this particular leaderboard is still very profitable for lower ranks, and people might find the usefulness of 98% winning chances bets, but you can never be among the top rankers by doing this, because your risk to reward ratio will be smaller. For example, you can wager approx 100k with surely losing $1500 on 98% chances by making minimum bets, but is it worth it? Considering that the wager will not even secure 1st place.
I think it's not just you, but most gamblers think this way. We used to bet on 1.01x odds only when we chase someone and want to accumulate our total wager. We know that we will eventually lose our bankroll. If you place 100 bets on 1.01x odds, you will likely lose 2 bets on average. Most of the time, you will lose three or more bets. Also, sometimes your winning streak can exceed 100 bets.
So, you actually know what is going to happen. If someone is a real gambler and wants to wager and enjoy themselves at the same time, I believe they can play on low multipliers, wager, and enjoy themselves at the same time. I usually play on 1.39x and 1.11x when I am on wagering mode.