The phrase "huge gamble" means taking a big risk or making a daring decision that could either lead to a great success or a major failure. Full definition
Since 2010, George Osborne has drastically missed his deficit target, lost the UK's AAA credit rating, increased public debt by trillions and made huge gambles on the tax revenues. (labour-uncut.co.uk)
After you make the decision to do a startup is when you should stop making huge gambles. (inc.com)
One book by a local author, «The Suicide Club» (huge gambling in Matara), Herman Gunaratne, owner of an Ahangama tea plantation with great tours very close by, takes readers on a journey through the British plantation Raj during its heyday and what has become of it all in these post-colonial times... interesting read...! (sionsurfcamp.com)