1. A significant risk, undertaken with a potential gain.
  2. A risky venture
    ''The sailors had taken many gambles with the sea and always won.


  1. To take a risk, with the potential of a positive outcome.
  2. To play risky games, especially casino games, for monetary gain.
  3. To risk (something) for potential gain.
    He gambled his reputation on the outcome.
  4. To interact with equipment at a casino

The above text is a snippet from Wiktionary: gamble
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