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What is a gambit? And did Queen Esther take one? After watching the most recent binge-worthy Netflix series, “The Queen’s Gambit,” I investigated the meaning of the word “gambit” and whether it is a good thing or a bad thing. According to the Oxford Dictionary, a gambit is 1) “a device, action, or opening remark, typically one entailing a degree of risk, that is calculated to gain an advantage , or 2) (in chess) an opening in which a player makes a sacrifice, typically of a pawn, for the sake of some compensating advantage.