The most common and most likely answer to this crossword clue is the 5 letter word LOTTO
I've seen this crossword clue in The Times
L
O
T
T
O
More clues leading to the result LOTTO
- Football, ultimately maybe a German game?
- Header missed in tight draw
- Bingo’s destiny — time together with love
- Form of gambling not tolerated after shrinking returns [5]
- Outrageous penetrating look — you can bet on it!
- Gents maybe assuming bike races to be a children’s game?
- Little room to bury the treasure, for starters, in game of chance
- Time repeatedly invested in game — it's a gamble
- Dry bathroom walls in house for children
- Start off drunk for this type of gambling
Buddy explains!

The straight part
We know that "it's a gamble" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case it's a gamble = lotto.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.
What does LOTTO mean?
LOTTO noun- A game of chance similar to bingo
- A lottery