The real problem with Double or Nothing is that the "doubling" effect is mandatory when you use it.
The doubling effect is circumstantially useful, providing action compression on low difficulty skill tests.
Kill a 2 HP enemy in one action before you've drawn your weapon!
Gain 2 clues with one action at a low-shroud location (especially when combined with Flashlight, which can reduce the skill test requirement to 0, eliminating the doubling downside entirely)!
Add two clues for the price of one while Disrupting the Ritual!
Do 6 damage with a single attack using Backstab or the new Flaregun!
However, as with other circumstantial cards, the opportunity to use this effect won't always come up in a game, and you DO still need to pass the test. One the fun things about Netrunner is that even when a card can isn't immediately useful, you can often pitch it for the icons. Not so with this one. Too often have I found myself in a tight spot, staring longingly at the wild icon on this card, unable to use it without making things worse.