All the kings gambit achieves is gambiting White's king!
The kings gambit for a long time was the opening of choice for the attacking player, However Its played very rarely these days- with good reason. We live in an age of computer chess. Where anyone, at any time, can study an opening with a partner better than the strongest grandmasters at their leisure. It is no wonder then that an somewhat unsound gambit is not the opening choice for the immense of today’s players.
Fischer spoke of how in his era the kings gambit was still analysed romantically rather than scientifically and I think the same rings true today. Players such as Tryfon Gavriel that have a large following on the internet will still swear that the kings gambit is 'A good weapon of choice for blitz games' however after attempting the gambit it should be white leaving with his tail between his legs every time.
As A chess junior in England stronger and more expeirneced players regularly attempt the gambit against me with not much success. They hope that they'll have the initiative out of the opening and that I'll keel over under the pressure of their lesser studied opening.
The reality is that even if black has no knowledge of the opening he can expect at a minimum equality simply by declining the gambit. Alternatively, if black wants a sharp yet winning game all he must do is study the key variations of the Fischer defence and he can expect an attacking game and the ensuing victory that doubtlessly follows.
here is a game taken from my first year of playing chess when I had no knowledge of the kings gambit other than I'd heard things such as 'things get tricky if you take the pawn' from players that I knew. Grades are in ECF format rather than ELO. I was ungraded at the time of this game.