I was going to say "it's all or nothing" (As @Rathony said in the comments). But then I did some websearching. Read on.
"do or die", like "life or death" and "life and death", implies you could lose a lot, but doesn't imply that if you don't lose, you win. Only that you survive.
"high stakes" implies that you could win a lot or lose a lot. But it doesn't rule out the possibility that you could also break even or just win or lose just a little bit.
If you want to say "win a lot or lose a lot with nothing in between AND it is much more likely that you will lose than win", then you could go with "hail mary pass".
"double or nothing" exists, as does the less common "double or quits", but I don't think they have the same idiomatic usage as you attribute to "quitte ou double".
http://dictionnaire.reverso.net/francais-anglais/quitte%20or%20double/forced does suggest "double or quits" - in the sense of getting out of debt, or deeper into debt.
The same site also suggests "make or break", which I think is the best answer yet, because it has more of a hint or randomness and unpredictability than "all or nothing" does.
So I'll suggest "make or break".