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Risky Biscuits 

A brigade of Pirates in the game Windward known for their fearsome cruelty and fun-loving questing.
The Risky Biscuits are love their grog and their wenches

Risky Biscuits 

Relates to pro-evolution soccer. The term is applied to a situation where a foolish and un-necessary risk is taken but goes unpunished.
Phil Neville's Career.
Risky Biscuits by David Doel April 20, 2005

Risky Biscuit 

When a women is extremely fertile, and it's risky to cum in the biscuit.
Dude! She has a risky biscuit.
Risky Biscuit by ZMan99 May 21, 2016

Risky Biscuit 

The last guy to spaff had to eat the risky biscuit.
Risky Biscuit by Tigermoff May 27, 2022

risk it to get the biscuit 

not to get anything without taking a chance. In other words: no risk, no reward
I won't make it to the finish, I don't wanna even try. Look on the bright side dawg, let's risk it to get the biscuit.

risk it for the biscuit 

= Take the chance of sacrificing your current possessions in order to win much more... the sexy biscuit.

Biscuit just rhymes with risk it. Plus biscuits are sexy. Butter yo biscuit!

In the case of (probably) the first time this phrase was ever used, the "biscuit" was the opportunity to maximize your earnings and then earn even more. The risk was the possibility of losing your acquired earnings when you could have kept them if you weren't so greedy!

Background:

First used at least 3 years from today during a round of the dice game "10,000" at Jamezy's, to encourage those with only 1 die left to take the chance and roll because if they hit a "1" or "5" they would get to roll all 6 dice again whilst retaining the points acquired during their first turn.

In this game you have 6 dice and take turns in a clockwise rotation rolling the dice to accumulate 10,000 points to win the game.

Each turn when you roll something worth points (ex. "1" = 100 points and "5" = 50 points) you get to roll the remaining dice again or keep the points you have acquired during your turn.

If you earn points with all 6 dice, you get to roll all 6 again (biscuit).
J: I think I'm gonna stop and keep the 500 points.
A: Naw man, risk it for the biscuit! The sexiest of biscuits!

J: LOL alright... I'M RISKIN IT FO DA BISCUIT!
risk it for the biscuit by Pap¡ October 20, 2016