Dont you find it funny, that "no risk = no gain" can simultaneously be "risk = no gain", but it almost unlikely to be "no risk = gain" situation? That no matter how much you risk you can still lose. Originally it suppose to mean that you cant achieve without trying, but it turns that you can try, spend time money and still fail. To this quote, I would like to add the word regret. This would suit perfectly as a motivation and a lighthouse for every gambler. No matter how you play, how you deal with your money and how your life is going, a person should never regret what he did. This is his life lesson, experience and he should accept it no matter if it is bad or good.
And what if there are rare instances like receiving an unexpected inheritance where "no risk = gain" does indeed seem plausible
However, as you noted typically to gain something substantial one must be willing to take a risk whether it be of time, money or effort.
Each situation demands a unique approach to risk and how we manage that risk often defines our outcomes.
I agree with your perspective on regret as well. Every experience, whether positive or negative shapes us. Embracing each as an invaluable lesson allows us to transform our experiences into strengths.