I thought there was risk, but you have to be level 7 and 9 to do the risky tricks. Is there any way to make it more risky?
And with risky you mean deadly? Well, I've read on the website (Carl's) that there is a slight change to actually drawn in the water box if you fail excaping. Perhaps you could be pierced by swords also, if one trick goes badly wrong.
I think the magic job is the only one really risky. Unless a singer can swallow a microphone and choke in it.