There are many gamblers who have never seen such an amount, and there are others who would never wager such an amount considering how difficult it was for them to get such an amount. I feel like the intention is to have and reduce the number of participants because even amongst the administrative team someone must have made mention that that was a huge amount but it was probably ignored because they have their specific reasons.
If you are in wager mode, you can wager $50K by spending $750 to a thousand dollars. It actually depends on how you are going to play. People mostly wager on dice, and these kinds of games have a maximum win chance where you are likely to get two reds every hundred bets. You can wager $50K by spending a thousand dollars. You don't need a $50K to wager $50K.
The most important thing is, if you are a regular and frequent visitor to a casino, you can actually wager this amount within a week by not forcing yourself. It may take a little longer than that, but of course, this is not impossible. People even wager millions of dollars even though they are not high rollers.
Why is it important to wager 50k? Does he want to join a competition or to pass a VIP level? I don't think it is logical to take such a big challenge by spending so much money in gambling. They do this because they have a lot of attitude and they want a big VIP level. Because they like to do so. Gambling should always be used as fun and entertainment only. Making such a big wager is crazy. While gambling, such a wager will be automatically fulfilled.