Not true.
If your betting 350 to win 20 and lose one
You only need to win 17 in a row to make up for it not 200
Even massive favorites are extremely +EV
Most people don't know this because they have been told otherwise
These same people have been sat down in front of a TV with crap filled diapers
and believe every thing they are told.
If you parlay two -10000 favorites together and bet 350 to win 7
-10000 is the same as 24pt favorite and we see there is only 1 loss in 348 games
The math says:
173 winners at $7 a pop = $1211
1 loser at -$350
still a massive profit at +$861
Ching, I win again!!