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If you were given $5,000 with only one stipulation, that you had to gamble all of it, in portions or all in one lump sum, and you could keep any winnings, how would you gamble that money?
[Editor's Note: This was a good question for Arnold Snyder.]
The “correct” answer to this proposition depends primarily on the gambler’s bankroll.
With a $500,000 bankroll, a professional player would likely have access to numerous betting opportunities in which a $5,000 bet could be placed with an advantage. He/she would likely pick the most potentially profitable bet and bet the full amount.
On the other hand, if this $5K represented the total bankroll, the best way to gamble it off would depend on the player’s goals. An amateur with no dreams of becoming a professional might prefer to get the most action for his gambling bucks, spreading $10 to $50 bets for many hours throughout a casino. Or he/she might want to make one or more sizable bets on favorite sports teams. If you’re playing for fun, neither of these approaches would be “wrong.”
An underfunded budding card counter who's been studying blackjack books might view a $5K bankroll as a career starter. Many successful counters have begun playing serious systems on bankrolls this small or smaller.
So there isn’t a single best answer to your question. An instant $5,000 gambling bankroll will mean different things to different players and without considering who those players are, there's no right answer.