UPDATED June 14th, 2018 “Going for broke” means risking it all, even if that means losing it all. Going for broke is a gamble, to shoot for the stars. And as with any risky venture, failure is always an option. Going for broke is no joke, but as they say, nothing ventured nothing gained. But it’s also important to realize it’s not always about winning. There is a lot we can learn from failure and it can build character. So to salute all of those who have risked it all and won, as well as those who have risked it all and failed, here’s a look at 12 reasons why this is such a great character-builder.