gamble >> ˈɡamb(ə)l
Definition: [verb] play games of chance for money; bet.
Example: he gambles on football
Definition: [verb] take risky action in the hope of a desired result.
Example: he was gambling on the success of his satellite TV channel
Definition: [noun] an act of gambling.
Example: Dad likes a bit of a gamble
Definition: [noun] a risky action undertaken with the hope of success.
Example: we decided to take a gamble and offer him a place on our staff