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Difference between Gamble on and Take a gamble on

gamble on something

1. risk money on the unknown result of a race, etc.:

  • Cockfighting is a fight between male chickens (roosters), in which people gamble on the outcome of the fight.

2. act in the hope of smth. being successful, true, etc.:

  • I wouldn’t gamble on the weather being fine.

Cf.: you can gamble on that—(coll.) you may be sure of that:

  • There will be trouble for someone. You can gamble on that.

take a gamble on something— = gamble on something 2:

  • The firm took a gamble on an emerging market with a multi-million dollar investment.