Longman Dictionary of Contemporary English - gamble

~1 v 1 to risk money or possessions on the result of something uncertain, such as a card game, a race or a horse  (We're forbidden to drink or gamble. | gamble on sth)  (Jack loves gambling on the horses. | gamble heavily (=gamble often, using a lot of money)) 2 to do something that involves a lot of risk, and that will not succeed unless things happen the way you would like them to  (gamble on)  (They're gambling on Johnson being fit for Saturday's game. | gamble sth on sth)  (Potter gambled everything on his new play being a hit. | gamble with)  (We can't relax our safety standards - we'd be gambling with people's lives.) - gambler n gamble sth away phr v to lose money by gambling  (Nielsen gambled his inheritance away.) ~2 n an action or plan that involves a risk but that you hope will succeed  (We've never used this agency before, so it's a bit of a gamble. | take a gamble)  (I think she's taking a gamble setting up her own business like that. | a gamble pays off (=brings success))  (Ellen had to admit the gamble had paid off.)