re: Where would you put $500 bucks?

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No this is essentially like a lottery ticket

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If you want to throw 500 dollars away than buy a lottery ticket. Normally this plays out 3 ways.

1. Most likely scenario you lose 90-99% of whatever you gambled on
2. You get the 1% chance and whatever you dumped it on grows 200-300%, but greed kicks in since you are gambling, and 1500 dollars now sounds too little. The gamble goes up until it doesn't and the fomo play is over. Then you are back down below where you started again. Back to scenario 1.
3. You are on of the few where you get the 200-300% gain and you pull out your initial starting money. You are back to where you started with 500 bucks, and the remaining "house money" is lost just like in scenario 1 since you still have no plan to exit.

If you just buy a lottery ticket you win and don't have to go through the above steps. I mean you admit it yourself you are looking to gamble