Gambling
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gam·ble
pronounced /ˈɡambəl/ gamble is a verb (with the gerund and present participle of gambling).
1. play games of chance for money; bet.
"she was fond of gambling on cards and horses"
Similar: bet, wager, "place a bet" or "lay a bet," "stake money on [something]," "back the horses," "try one's luck on [something, usually the horse], "play the ponies," punt, "chance [something, usualy one's arm]," "have a flutter," game
Or sometimes to bet (a sum of money) on a game of chance.
"he was gambling every penny he had on the spin of a wheel"
2. take risky action in the hope of a desired result.
"the British could only gamble that something would turn up"
Similar: "take a chance," "[...] risk," or "[... a] leap in the dark"