noun a possibility of something happening
verb to risk or take the opportunity to do something
In the context of gambling, 'chance' is frequently used to describe the probability of winning or losing a bet.
Within risk management, 'chance' is employed to assess the likelihood of a negative outcome and to make decisions based on that assessment.
In this field, 'chance' is used to refer to the likelihood of a certain event occurring, often quantified as a percentage or fraction.
When evaluating opportunities, 'chance' is considered to assess the potential for success or failure in pursuing a particular course of action.
In writing, 'chance' can refer to a character's opportunity for success or failure based on luck or circumstances.
Psychologists may use 'chance' to refer to the likelihood of a specific event occurring in a client's life.
Statisticians use 'chance' to describe the probability of an event happening in a given situation.
In the gambling industry, 'chance' is a key concept in determining the odds of winning or losing.
Sports analysts may use 'chance' to discuss the likelihood of a team winning a game based on various factors.
Risk management specialists consider 'chance' when assessing the probability of negative events occurring and developing strategies to mitigate them.