Yes, it is a way for the house to make money while at the same time rewarding those who wagered the most to get to the top 10 or top 20 by wager. It depends on the rules of the contest and the way prizes are distributed among winners.
You need to remember casinos and exchanges highly depend on a high enough volume, to the edge they have programmed on their games can start to work and they ultimately pocket money from that volume, that is the reason for those races or contests to exist, and unlike sport betting, casino games are resolved instantly, so it is more appropriate for people who do not wish to have any constraint when comes to gambling and accumulate wager at the own pace.
Those contests/races are not for everybody, one needs to be aware those are mostly targetted towards individuals with much money, and can afford to lose tens of thousands or even morez foromorey for the sake of claiming the biggest prize, small gamblers and middle class gamblers should avoid those races if they feel they are driven by money and not for entertainment.

Yes, it is a way for the house to make money while at the same time rewarding those who wagered the most to get to the top 10 or top 20 by wager. It depends on the rules of the contest and the way prizes are distributed among winners.
You need to remember casinos and exchanges highly depend on a high enough volume, to the edge they have programmed on their games can start to work and they ultimately pocket money from that volume, that is the reason for those races or contests to exist, and unlike sport betting, casino games are resolved instantly, so it is more appropriate for people who do not wish to have any constraint when comes to gambling and accumulate wager at the own pace.
Those contests/races are not for everybody, one needs to be aware those are mostly targetted towards individuals with much money, and can afford to lose tens of thousands or even morez foro the sake of claiming the biggest prize, small gamblers and middle class gamblers should avoid those races if they feel they are driven by money and not for entertainment.