When a person decides to spend a lot of time, effort or money on someone who probably doesn't deserve it. Someone can be a bad bet from either the perspective of the person putting in those resources, or the person can see themselves as a bad bet, not worthy of the effort the other person is putting in.
I am in love with her and she makes me so incredibly happy, but she also has a lot of trauma and emotional baggage and keeps trying to tell me why I should break up with her. She might be a bad bet