Related:
Regular chess: Why would I bid for white in armageddon (in regular chess)?
Chess960: Why would I bid for white in armageddon in chess960?
Were there armageddons where white gets lower time or where you can bid for white?
Armageddon: Has anyone actually bid for white in chess (or chess960)?
Re 2023 Champions Chess Tour Airthings Masters
From Gukesh Beats Former World Champion Kramnik 3 Times, Dominates Play-In
Here, armageddon bidding is not for black but for your colour of choice! But black still gets draw odds of course.
Question: Can the first move advantage really be worth having to play for a win on lower time?
My guess: Well in chess, maybe... In Chess960? Yeah right. But ok let's just restrict to chess, where there's theory. IF you can get a good deal on the bid like if you win with 9:59, then ok. Maybe theory will be a good way to compensate for draw odds? (Of course if the other person really wants black, then they're not gonna bid just 9:59.)