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I heard in anime a phrase related to risk, like "all or nothing". It sounded like "icka backa" but I can't find the exact phrase.

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Most likely it's indeed 一か八か (ichi ka bachi ka), meaning roughly "sink or swim", "all or nothing" etc.

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    Literally it means '[will it be] one or eight', in reference to a particular gambling game. – Sjiveru May 25 '18 at 13:50

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