As an example, several months ago I suggested two long shots for POTUS that I thought "might" be worth a shot. One of those potential candidates was Michael Bloomberg who's odds at the time of winning the Oval office were 200-1, The other was Howard Schultz who was going off at the same odds  of 200-1.  

 
Fast forward to today. The CURRENT odds for Bloomberg to win have fallen to 8-1. So yes there can DEFINITELY be a benefit to being right sooner. Now OTOH, if you had bet on Biden early you might have gotten 4-1 on your money, those odds are now 14-1 as his prospects along with his popularity have plunged.

 
Another example is Donald Trump, early on he was a 100-1 longshot, by eve of the election the odds had fallen to 7-2, which were about the same odds as Mitt Romney was against Obama on election eve back in 2012, the big difference of course being that Donald Trump beat the odds where as Mitt Romney ran a horrible campaign and deservedly lost to a very vulnerable Obama.