Some folks don't usually calculate their risk before taken it, they always learn from the outcome of that risk they took , because of this mindset the higher the risk the higher the return. I have been there and it doesn't usually ends well .
Most time usually end with regret , taken proper risk will give enough space to learn , due to poor risk management that's some people still go all in , in gambling they don't think about the risk that's attached to taken such Action .
Those that take risks without calculation are just gambling blindly thinking that gambling depends entirely on luck, and instead of taking gambling for what it is and not to risk a dime without adequate calculations and knowledge level that gives guaranteed winning even though there is nothing like guaranteed winning, but at least something that put you closer to winning, that is what calculated risks taking means.
Agree to that, even a small chances of winning as long as you deal with it using your knowledge and skills there's a chance that it will happen, you just need to work with it and keep your focus, discipline and allowing yourself to enhance your knowledge from the experience that you gain in each gambling that you made, more on taking time and expanding and exploring with every opportunity that you may have.