A (not so) Nice Dilemma!

I've got a bit of a financial dilemma...

If someone offered you, say, £1 with no strings attached you'd take it straight away, right?

What if they then offered you the chance that it might be £2 in 2 years time but it could also be £0. What would you do then?

Would you risk it as you didn't have anything in the first place or would you play it safe and take the offer?

What if you had low short term expectations of getting the £2 but a wild dream that it could turn into something like £5 if you were prepared to wait 5 years?

And what would you do if the £1 was actually £10 to begin with? £50, £100, £1000, £2000? What would be the cut off before you took the money without risking it?

Help!