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"Betting the Farm" is a metaphor used to represent wagering all or most of the possession you have (or have left?) on a bet.

Things included in a bet of this magnitude might be a house, cars, property (by word or deed), stock options (if yours are still worth anything), family heirlooms or other expensive non-replacable items, or combinations of the above and/or other items of value not listed.

Also may be used to represent taking cumbersome financial risk, or dealing with other high risk activities and/or decisions.

Can be a sign of a severe gambling addiction.

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