Betting with the same steam account can be dangerous?

I’ve heard some people say betting with the same Steam account over time might be risky, but why is that? Could it lead to account bans or restrictions if Valve flags it for unusual activity? Also, is there a chance of exposing personal data or linked payment methods to third parties? I wonder if there’s a way to stay safe while enjoying in-game item bets. Any tips or experiences to share?