Winner-Take-All strategy

It's rare to find a WTA tourney online or in a B&M, but a lot of home games play only this way. I typically avoid them like the plague unless I feel I have a serious serious edge over my opponents. My thinking is that it takes a fair amount of luck to actually take down first place, as opposed to finishing in the top-three.

I'm wondering what kind of strategy you should employ to turn a profit at these games, if its even possible.