Risk and reward
Also said as Push your luck, Risk-reward
Giving the player a safe option and a dangerous one that pays better. The risk has to be real and the reward has to be worth it.
It makes the player do the choosing of how hard the game is, moment to moment. If the danger never pays, nobody takes it. If it always pays, it was never a risk.
Say it
“Put the best loot on the side route past the sniper. The main path should be safe and give about half as much. I want players to look at their health before they choose.”
Where you’ve seen it
Gears of War's active reload lets you tap during a reload: hit the sweet spot for a fast reload and stronger shots, or miss and jam the gun. Slay the Spire marks tougher elite fights on its map, and they pay out relics.
Not to be confused with randomness
Randomness is what happens to you. Risk and reward is a choice you make with the odds in view.