Agree. Unless Max Thieriot (Bode) decided to leave the show and didn't tell anyone, then he is safe. Remember, the car fell vertically, front first. The back window was removed, as long as he is not holding onto the car, either he will slide out or push himself out of the back. Now if the car fell on its' side or turned around prior to hitting the water, then Bode will either be badly injured or dead. But the way the car fell, yeah he will come up to the surface and there will be a great sigh of relief. May get yelled at for taking such a risk, but on the whole everyone will be glad he survived the fall.
As for Manny and his gambling, sure why not. No hint of his gambling issue prior the last minute of the last episode. So last episode he was up $20G and instead of walking away, he kept betting and lost the house. Bright side, no more mortgage payments.