Home improvement contractor here.

Short answer: it’s always inherently risky. There’s no 100% certain way to avoid it. But there are things you can do to mitigate the risk. First, look for outlets and light switches - wires generally run straight up or straight down from them. The same principle applies to plumbing. Most electronic stud finders also have a feature to detect metal and live wires. They quite unreliable though.

Another precaution is to use masonry bits instead of wood or metal bits. Masonry bits have blunt ends, so you’re less likely to damage wires or pipes even if you hit one. You should also avoid drilling too deep, and whenever possible, aim for studs - there’s rarely anything critical inside them.

That said, hitting something important is quite unlikely. In a standard wall, there’s usually not much inside. Kitchens and bathrooms are a bit riskier. For perspective, I’ve probably drilled over a million holes into walls and ceilings, and I’ve only ever hit a wire once - and that was in the oddest place, running between a wall and a door jamb. It was such a strange location that the thought never even occurred to me until the room went dark.

If you hit a wire you’ll probably just blow a fuse. It’ll cost to fix it but it’s rarely catastrophical. Plumbing is a different story - you can cause a lot of damage in very short period of time. It’s generally recommended to locate AND TEST the main shut off valve before drilling if you’re unsure. Word of caution though: these valves may sit untouched for decades and may start leaking when you do.