Is “Gambled” a Scrabble word?

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Yes
GAMBLED
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Gambled

verb
  1. 1.To take a risk, with the potential of a positive outcome.

  2. 2.To play risky games, especially casino games, for monetary gain.

  3. 3.To risk (something) for potential gain.

    He gambled his reputation on the outcome.