You will be constrained by three factors.
Gambling in an Act can’t award items of higher item level than the level of the hardest zone in that Act. In Act 1 this is item level 15, or 51 in Cruel difficulty (Early Access only).
You’ll run out of gold quickly if gambling – especially if gambling for jewelry items. Amulets offer a lot of power in Path of Exile 2, but the game is stingy with them, and you’ll pay a lot of gold to gamble for them.
You can only gamble once per unique monster that you kill in the Act. This limitation isn’t impactful when gambling for amulets or rings as you’ll run out of gold well before running out of unique monster credit, but it is a severe cap when gambling for boots, weapons and other such items.
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