If cloud bet don't have the funds to pay such big amounts, why did they let people to bet as high as this? I mean shouldn't they have a max bet restriction in the first place?

I know many casinos put a limit on your max. bets just to be able to cover the winnings of those lucky people but if cloudbet removed or didn't put it, then they have to pay that money and if they can't... things do not look very bright for them.