Would you contribute to a collective betting between you are your friend? Collective betting is a real thing, people are joining staking power with one another to place bet.
According to this story
https://www.instagram.com/p/DNpQGu4N-At/?igsh=azdwMGJxYWE4dHM4 a group of five friends has been saving up for a couple of years to stake on black, the contributed $50 each for two years and they won $52,000 meaning if it’s shared equally each person will earn $10,000 and after two years each person had contributed $5200 that’s a profit of $4800 after two years is it win or not worth it?
Collective betting can increase the staking amount but there are some dark sides to collective betting like confusion in making decisions, not everyone in the group may agree to bet or how it should go, when they should cash out or quit. Collective betting can also be a seed for disunity between friends as one or more persons from the group can be blamed if it doesn’t go right.
For me collective betting should just be for fun and get together and no matter the outcome it should not be taking too deep.
They are idiots sorry to say, they might have ended with nothing because this idea is too risky, also this isn't the best way to make money this days, they would have made a lot more, something close to a fortune if they invested all the money into Bitcoin.
Five years back Bitcoin was very cheap, they would have made a fortune today, this should be in the year 2021 I believe, Bitcoin was under 50,000 at the time and through 2022 Bitcoin went all the way down to 15,000.
By now they will have something close to 1BTC, right now they would have a lot more money on the table, it would have been a better idea than gambling, while some could say they can make fortune out gambling I am only wagering the risk ratio here.