Nah, you were right that I have to change my wager plan. I think it would be best not to chase the 50K anymore but just play for entertainment or participate in other wagering contests.
You could have wagered $50k with minimum losses at Yeet during the Bitcointalk contest period. You would have received $20 for $10k wager, then $100 for $50k wager as the rank-up bonus. Besides that, you would have also received rakeback, weekly or monthly bonuses. Finally, the reward from the leaderboard would have helped you to recover the amount which you might have lost by using the wagering strategy.