The Spanish verb jugar can be used with or without reflexive pronouns, with different meanings.
Spanish verb jugar: to play
With no reflexive pronouns, the verb jugar means "to play" or "to play a game or a sport".
Spanish verb jugar con alguien/algo: to mess with someone/ to fiddle with something
Sometimes, used with the preposition "con", changes its meaning to "to fiddle with something", when it is a thing or "to play with somebody's feelings" when we are talking about people.
Spanish verb jugarse: to gamble/to risk
In all these examples we use jugar in its pronominal form. This use of "jugarse" implies that there is a feeling of risk and that what the person has gambled may have been lost or may be lost.
However the reflexive pronouns may be omitted when using this verb. If this is the case, that nuance of risk and possible loss disappears. This way it is a more neutral meaning of "betting":
There are some set expressions to say "to risk your life":
Jugarse la vida
Jugarse la piel
Jugarse el cuello
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