The phrase "bets the farm" is often used to describe a situation in which someone is putting everything they have at stake. Some common synonyms for this phrase include "puts all their eggs in one basket," "gambles everything," "risks it all," and "throws caution to the wind." Other related phrases that convey a similar meaning include "goes all in," "puts everything on the line," and "makes a bold move." Regardless of the phrasing used, the idea is the same - when someone bets the farm, they are taking a significant risk in the hopes of achieving a substantial reward.