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Influential theories posit that bodily responses are important for decision‐making under uncertainty. However, the evidence of the role of our ability to perceive subtle bodily changes (interoception) in decision‐making under uncertainty is mixed. These differences may arise from the fact that uncertainty, a part of daily decision‐making, can be fractionated into risk (known probabilities) and ambiguity (unknown probabilities). Here we examine the role of arousal and interoception in shaping risky and ambiguous decisions. We measured skin conductance responses and heart rate changes while participants (N = 40) made gambling decisions in the context of risky and ambiguous lotteries. Results reveal that the anticipation phase produced the largest arousal responses, suggesting that the anticipation is a major contributor to arousal during gambling behavior, regardless of the uncertainty type. Moreover …