› [I] to do something that involves risks that might result in loss of money or failure, hoping to get money or achieve success: Anyone who gambles on the stock exchange has to be prepared to lose money.Taking risksGambling and bookmaking C2 [I or T] to risk money, for example in a game or on a horse race: I like to gamble when I play cards - it makes it more interesting. He gambles on the horses (= horse races). He gambled away all of our savings.Gambling and bookmakingTaking risks