gerund or present participle: gambling
1. play games of chance for money; bet.
"she was fond of gambling on cards and horses"
Similar: bet, wager
place a bet : lay a bet : stake money on something : back the horses : try one's luck on the horses : play the ponies : punt : chance one's arm : have a flutter : game
2. take risky action in the hope of a desired result.
"the British could only gamble that something would turn up"