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.
Well isn't it obvious though that the rich has a lot of money that's why they can take that big risk and won big as well? So I don't know what's the point of your argument here as I can't find any out of it. And even if with that kind of odds though, there could be some whales losing.
https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30,
So there is no secret sauce in gambling, yeah you might have the advantage if you have a lot of money. But still you forget one element and that is luck. So if you are a big whale and goes by that kind of mindset of betting with the favorite and with small odds, it might not work for you all the time.