Meanings
Possibly nothing more than a case of real estate as wager stakes, but also plausibly because farmers cannot avoid gambling and the stakes are financial ruin: they must make many decisions (such as which crops to plant each year, and how to manage livestock), and outside factors such as weather or changing commodity markets can dash their hopes. Thus, when making a decision they must ask themselves whether they are confident enough to bet the farm as the wager stakes.
How to pronounce "bet the farm":
AU
To be absolutely certain, to have no doubts.
To make a substantial wager or risk.
Example Sentences
1
I wouldn't bet the farm on their ability to finish the project on time.
2
He's so confident in his team's skills that he's willing to bet the farm on winning the championship.
3
I don't think it's wise to bet the farm on a risky investment like that.
4
She decided to bet the farm and quit her stable job to pursue her passion.
5
They are willing to bet the farm on their new product being a huge success.