Deciding to do something despite knowing the risks involved because success would be very beneficial.

Calculated Risk

Although 'gamble' often involves betting money, in this phrase, it's more about taking a risk in general.

Not Literal

There's usually a clear, desirable outcome the person is hoping for by taking this risk.

The person is risking something valuable, like money, reputation, or time for potential success.

This phrase implies a strong belief or hope that the risky action will turn out well.