Just in, he is on medical attention after he slumped as a result of loosing a borrowed fund meant for a business re-startup after the gamble made him squandered his previous business.
At his regained to a normal state of health, he explained that he thought he would be lucky to win at the stake so as he could expand his intended business with a bigger capital.
Gambling with borrowed funds is a clear sign of gambling addiction. It's a pity that your friend is a chronic gambler and it has even affected his health. He needs to stop gambling, work, save money, and pay his debt. He should seek the help of experienced gamblers who can guide him on how to gamble responsibly. If possible, seeking the help of a gambling addiction therapist could be good. He needs to take a break from gambling and only come back when he is sure of controlling his gambling behavior.
I'm really skeptical if 1000$ can really give you a lucrative business in my country but maybe in your country since that amount is only the price of the business location with very rental small place but resorting to gambling using the funds that is intended for important matters is always a big red flag because you are risking the money that you can't afford to lose.
$1000 could be enough to start a successful business but it depends on the kind or the size. The businessman might decide to start an online business instead of renting a physical shop. Some persons might have a business space in their homes which could serve as the business place until the business expands. Some persons might also decide to rent small stalls instead of a big shop.