It's pure gambling.I was a dealer for one year and the "big game" we had back then was a weekly limit 25/50 mixed omaha and HE game.One guy would post a straddle once a day in the holdem phase and play his hand blind to river, betting and reraising the entire way. Needless to say, he was rich (as were all of these guys).One day, the board ran out J99xx and he took down by far the biggest pot of the day with JJ. LOL.

There's the obvious positional advantage but there are metagame advantages too. It makes you look more like a gambler and so will make more people want to play with you. They'll also call you down lighter. Secondly, it can get players stuck more quickly because the stakes are elevated and it's harder to get away from hands. Since some players become very bad when stuck, this can quickly turn a mediocre game into a great game.