I think that the risk is definitely a motivation for gamblers; as risk provides excitement. Why do people do things like bungee jump, skydive, or other extreme sports where there is the risk of dying? They do it for the thrill provided by the risk factor.
It's the same with gambling; people do it for the pounding heart excitement feeling, and for these reasons, I feel that risk is part of the motivation.
As you have mentioned that on extreme sport there is a risk of dying, do people tend to be excited to die? Of course not, right? Maybe it's better to say it this way. The excitement/thrill itself is the motivation for them to do such sport
regardless of the risk that it may cause them/their safety.
That's why some people don't want extreme sports, because they think that their life is at risk there.
In gambling, yes I encountered some people with the same reason as you. They like gambling because it's risky, exciting and also a part of it is that they could win considerable amounts of money (maybe regardless of their losses).