You know what the best example of high-risk high-reward is in the game...
AP Ezreal
Think about it
AP Ezreal may have the most damage in 2 seconds across 5 champions with 700 AP
And can chunk you late game for crazy amounts and can kill your squishis with one combo
The thing is
A. He has .75 AP magic dmg attached to his mobility, which he can't gasp return back too 
B. He has horrible wave clear, making it easy to push him in early, making his laning phase misarable unless you are against a Kassadin who has no wave clear, but counters you by taking reduced magic damage
C. Needs to get ahead early or has crap mid game
D. Squishy
E. Poke or Commit, and in order to poke well, you need Lich Bane and Mana Regen (Late game, Viod Staff), if you want to commit, you need Rylai's and Rabadon's)
F. Trading Arc is relatively small compared to other mid laners, although it can go through minions, cough 
If only there were more champions, or stong champion playstyles that follow under this
I wish there would be an AP Ezreal Meta because it would actually have conterplay and phases of the game that you could punish
