Abstract-Elasticity is a key characteristic of cloud computing that increases the flexibility for cloud consumers, allowing them to adapt the amount of physical resources associated to their services over time in an on-demand basis. However, elasticity creates problems for cloud providers as it may lead to poor resource utilization, specially in combination with other factors, such as user overestimations and pre-defined VM sizes. Admission control mechanisms are thus needed to increase the number of services accepted, raising the utilization without affecting services performance. This work focuses on implementing an autonomic risk-aware overbooking architecture capable of increasing the resource utilization of cloud data centers by accepting more virtual machines than physical available resources. Fuzzy logic functions are used to estimate the associated risk to each overbooking decision. By using a distributed PID controller approach, the system is capable of self-adapting over time -changing the acceptable level of risk -depending on the current status of the cloud data center. The suggested approach is extensively evaluated using a combination of simulations and experiments executing real cloud applications with real-life available workloads. Our results show a 50% increment at both resource utilization and capacity allocated with acceptable performance degradation and more stable resource utilization over time.