This makes gamble a game of luck to the poor and a game of strategy to the rich.
Ex:
RICH ($10,000 * 1.10 odds) = $11,000
POOR ($5 * 1000 odds) = $5,000
With this you can see that the chances of the Rich winning is very high up to 90% while the Poor only have 10% chance of winning which now is based on luck!
This makes me think about the saying that goes by "THE RICH IS GETTING RICHER WHILE THE POOR IS GETTING POORER"
The get rich quick mentality is killing the poor.
I want to continue your Ex:
Rich lost $11,000 with odds 1.10
Poor lost $5 with odds 1000.
This is a very brilliant response to the OP.
The rich might get richer quicker not because they pick the smaller odds but because they have more money to cover up the expenses once they lose. At the same time, since they gamble higher, they lose the highest if their bet dont go as plan. Most times, the little odds tend to be the one that cuts the most. So yea, when we are looking at the positive side of betting on low odds with high amount we should also look at the negative side too.