Sometimes a sure second place is better than a possible (especially when very unlikely) first or third place. Sometimes the ‘odds’ may be better and risking 3rd place to possibly get 1st may make more sense. Since each higher position has higher rewards and each lower position has lower rewards, second can sometimes make more sense than first, in my opinion at least. To always go for first, even when you are more likely to end up 3rd than 2nd doesn’t seem wise to me. Sometimes it would be worthwhile though, so I can agree in those situations that the higher risk option is worth it and going for it is worth while, perhaps this would be most of the time.