I do get the analogy (anything betting related works for me :-) )

Understanding the liquidity pools better does really make me wonder though, It doesn't make any sense whatsoever for anyone to provide liquidity on assets that are not correlated or don't have crazy trading volume in relation to the total value in the pool. In crypto you win some and you lose some learning along the way. I guess this was one of those rather expensive learning lessons. With the risk of being hit with more impermanent loss, I just exited the liquidity and I'll stay away from trying to make some passive income this way from here on out.