A gamble is when you put money at risk in betting or games. You can win or lose based on chance.
His gamble lost all his money.
The gamble paid off well this time.
Gamble can also mean risking something non-material like respect or life chances. It implies a serious risk with important things.
He gambled his reputation on the risky deal.
She gambled her chance to study abroad.
This meaning is about taking part in games where you bet money to win more, often in places like casinos.
They gamble at the casino every weekend.
He gambled all night for fun.