adjective, dicier, diciest. Informal.
unpredictable; risky; uncertain.

1935–40; dice + -ey1

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World English Dictionary
dicey (ˈdaɪsɪ)
adj , dicier, diciest
difficult or dangerous; risky; tricky

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

"risky, uncertain" (as the roll of dice), 1940s, aviators' jargon, from dice + -y (2).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Surviving without a skeleton can be a dicey challenge.
Agents working undercover to snare offenders can find themselves in dicey
  situations, particularly with cash stakes so high.
That's a dicey sentiment, considering the tyrannical source.
In other words the political calculation isn't dicey at all.
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