How can I make the size of the font in a label larger?
I used this function to display the text :
function OnGUI()
{
    GUI.color = Color.green;
    GUI.Label(Rect(500,350,200,50),"Lose");
}
And that results in:
How can I make this text bigger?
How can I make the size of the font in a label larger?
I used this function to display the text :
function OnGUI()
{
    GUI.color = Color.green;
    GUI.Label(Rect(500,350,200,50),"Lose");
}
And that results in:
How can I make this text bigger?
Simply create an appropriate GUIStyle and set the fontSize. Pass this to your label and you're good to go. 
So something like this:
using UnityEngine;
using System.Collections;
public class FontSizeExample : MonoBehaviour 
{
    GUIStyle smallFont;
    GUIStyle largeFont;
    void Start () 
    {
        smallFont = new GUIStyle();
        largeFont = new GUIStyle();
        smallFont.fontSize = 10;
        largeFont.fontSize = 32;
    }
    void OnGUI()
    {
        GUI.Label(new Rect(100, 100, 300, 50), "SMALL HELLO WORLD", smallFont);
        GUI.Label(new Rect(100, 200, 300, 50), "LARGE HELLO WORLD", largeFont);
    }
}
will result in

 
    
    Unity's GUI supports "rich text" tags now.
http://docs.unity3d.com/Documentation/Manual/StyledText.html
So this would work:
GUI.Label(Rect(500,350,200,50),"<color=green><size=40>Lose</size></color>");
