Of course yes. You could bet 10 GBP on the casino game of roulette for instance betting a chosen number with £10 staked on it. If your number did not come up on that spin you would lose it in 30 seconds.
On the contrary your number may have come up on that spin and you win £350.
Any gambling game in a casino has the element of chance.
If for instance though you where betting very low stakes in roulette or any other casino game at 1p per spin it would not be possible to lose 10 pound sterling in one minute. It would take many many hours if lady luck had abandoned you.