Increasing the risk isn't always worth it because it's 50/50, that best way to gamble is always to stake low, you never can tell if you would actually make profit of lose. But here's the thing that people don't talk about often times, even though you staked low and it turns out that you still ended up winning, the bright side is that you didn't lose and you made profit.
Increasing risk? Honestly I don't get the point, I think you mean increasing the amount of money in gambling? Is it true? 
Stake low means using a small amount of money, I agree this is a good way to avoid severe losses. Sure, there is no way to increase the chance to win in gambling. Even if we use a bigger amount of money, it won't increase the chance to win. It just leads to a bigger chance of losing more money. Some gambler decide to have some limits to ensure using safe money. It includes to limit the amount of money for gambling.