gamble-n; 2 Senses

Sense Number 1: the act of placing a monetary bet in a game of chance

Commentary: GAMBLE[+action][+betting][+money][+game][+chance]
NOTE: refers specifically to placing money on bets of chance

John's gamble on red paid off two-to-one.
This blackjack table requires players to make gambles of at least $100.

PropBank: NM
WordNet 3.0 Sense Numbers: 1

Sense Number 2: the undertaking of any risky endeavor

Commentary: GAMBLE[+activity][+undertaking][+risky]
NOTE: a broad extension of the narrower Sense 1
NOTE: does not imply directly betting money

Pete took the gamble and dropped out of school to start an Internet company.
The senator warned that the war was a huge gamble with uncertain outcome.

PropBank: gamble.01
WordNet 3.0 Sense Numbers: 2