As I understand it these are basically an insurance policy. The promoter takes out a policy detailing the odds of a payout being required, and pay a premium based on the insurer’s risk assessment.

And of course the insurer wants to minimise the odds of paying out, and the promoter wants to minimise their premium - so the top prize is usually, as above, near-unwinnable.

Was about 3pm here /cries in Australian

We regularly get screwed over during business hours by things being pushed out overnight in the US/UK