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I am not sure if there's a word for this, but if there isn't, it would be really useful if we had a word for it since I can see many situation where the word would be used.

For example, let's look at this example sentence:

I just want to roll the dice, because this is a ___ and I am a gambling person. I am all in!

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  • My suggestion is "open-end situation": it can end up very well or very badly, time will tell.
    – Gustavson
    Commented Apr 24, 2019 at 23:21

2 Answers 2

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Here are some possibilities, all from the Oxford Dictionaries:

make or break
PHRASE
Be the factor which decides whether (something) will succeed or fail.
I just want to roll the dice, because this is make or break and I am a gambling person.

life-or-death
ADJECTIVE
That involves or is regarded as involving life and death; (by extension) extremely urgent or dangerous.
I just want to roll the dice, because this is a life-or-death situation and I am a gambling person.

game changer
NOUN
An event, idea, or procedure that effects a significant shift in the current way of doing or thinking about something.
I just want to roll the dice, because this is a game changer and I am a gambling person.

life-changing
ADJECTIVE
Having such a strong effect that it changes one's life.
I just want to roll the dice, because this is life-changing and I am a gambling person.

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There are many expressions but one is literally "a roll/toss of the dice".

I have no idea if I got that job. I thought I did well on the interview but It's still a total dice toss.

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