The most common and most likely answer to this crossword clue is the 7 plus 8 letter word RUSSIAN ROULETTE
I've seen this crossword clue in The Times
R
U
S
S
I
A
N
R
O
U
L
E
T
T
E
More clues leading to the result RUSSIAN ROULETTE
- Gamble where the loser has a shot?
- Game whose winner never takes the lead
- Ensures tutorial is a shambles — that's a risky game!
- Aristotle unsure about act of stupid bravado
- Game in which loser first to take lead?
- US literature’s on playing a dangerous game
- Note usual triers messing about – dangerous game
- Challenge ending with death chamber
- Playing at Euros: result in sudden-death shoot-out?
- Rules out nastier play in dangerous game
Buddy explains!
The straight part
We know that "that's a risky game!" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case that's a risky game! = russian roulette.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.