Risk vs. Chance: Difference and Comparison
Edited by Muazma Batool — By Muneeza Rehman — Published on April 15, 2024
"Risk" implies exposure to danger or loss, while "chance" denotes the possibility or probability of an event happening.
Difference Between Risk and Chance
"Risk" and "chance" are terms often used to discuss uncertainty, but they have different connotations. "Risk" usually refers to the possibility of negative outcomes, highlighting potential harm, loss, or undesirable results. It's a term that underscores vulnerability. For example, investing in volatile stocks comes with high risks, meaning there's a possibility of financial loss.
Muazma Batool
Apr 15, 2024
"Chance," in contrast, is neutral. It can relate to both positive and negative outcomes. When we talk about "chance," we're discussing the likelihood or probability of an event occurring. Winning the lottery, for instance, is a chance event. It's about the odds, not necessarily the potential harm or benefit.
Muneeza Rehman
Apr 15, 2024
Additionally, while "risk" is more about measuring potential threats, "chance" is more exploratory, considering all possible outcomes without a particular emphasis on negativity. In business, for example, entrepreneurs take risks hoping for a return on investment, whereas a dice roll is about the chance of landing on a particular number.
Muazma Batool
Apr 15, 2024
When considering actions, "risk" often requires evaluation and mitigation, as people or organizations try to reduce potential negative outcomes. "Chance," however, is more about acceptance and understanding of all potential outcomes. It's about embracing uncertainty.
Muneeza Rehman
Apr 15, 2024
In essence, while both "risk" and "chance" address the unknown, "risk" leans towards potential danger or loss, whereas "chance" speaks of probability without a specific negative connotation.
Muazma Batool
Apr 15, 2024
Risk vs. Chance Comparison Chart
Definition
Exposure to potential harm or loss.
The likelihood of an event occurring.
Muazma Batool
Apr 15, 2024
Focus
On potential danger or loss.
On the odds of an event, without specific emphasis.
Kaitlyn
Apr 15, 2024
Risk vs. Chance Definitions
◉Risk
The possibility of loss or injury.
Climbing without safety gear poses a serious risk.
Elijah
Sep 15, 2023
◉Chance
The occurrence of events without apparent cause.
The meeting was a pure chance, as neither had planned it.
Muazma Batool
Sep 15, 2023
◉Chance
The possibility of a particular outcome.
There's a good chance of rain tomorrow.
Levi
Sep 15, 2023
◉Chance
The probability of an event happening.
What's the chance of winning the jackpot?
Muneeza Rehman
Sep 15, 2023
◉Risk
A factor, thing, element, or course involving uncertain danger; a hazard
"the usual risks of the desert.
Muneeza Rehman
May 03, 2023
◉Chance
A risk or gamble on a particular outcome.
She took a chance and bought the mystery box.
Elijah
Sep 15, 2023
◉Chance
The unknown and unpredictable element in happenings that seems to have no assignable cause.
Muneeza Rehman
May 03, 2023
◉Chance
A force assumed to cause events that cannot be foreseen or controlled; luck
Chance will determine the outcome.
Muneeza Rehman
May 03, 2023
◉Chance
often chances The likelihood of something happening; possibility or probability
Chances are good that you will win. Is there any chance of rain?.
Muneeza Rehman
May 03, 2023
◉Chance
An accidental or unpredictable event
"He sprang to his feet and turned to run. At the same moment by a lucky chance the moon broke through the clouds" (Arthur Conan Doyle).
Muneeza Rehman
May 03, 2023
◉Chance
A favorable set of circumstances; an opportunity
a chance to escape.
Muneeza Rehman
May 03, 2023
◉Chance
A risk or hazard; a gamble
took a chance that the ice would hold me.
Muneeza Rehman
May 03, 2023
◉Risk
(uncountable) The probability of a negative outcome to a decision or event.
There is risk of being brutalized, arrested, imprisoned and tortured, all because I want you to know the truth about this matter.
Muneeza Rehman
May 03, 2023
◉Chance
(Baseball) An opportunity to make a putout or an assist that counts as an error if unsuccessful.
Muneeza Rehman
May 03, 2023
◉Risk
(uncountable) The magnitude of possible loss consequent to a decision or event.
Muneeza Rehman
May 03, 2023
◉Chance
Caused by or ascribable to chance; unexpected, random, or casual
a chance encounter.
a chance result.
Muneeza Rehman
May 03, 2023
◉Risk
The potential negative effect of an event, determined by multiplying the likelihood of the event occurring with its magnitude should it occur.
Muneeza Rehman
May 03, 2023
◉Chance
To take the risk or hazard of
We thought we could jump over the puddle, but we were not willing to chance it.
Muneeza Rehman
May 03, 2023
◉Chance
To have the fortune (to be or do something); happen
"My eye chanced to fall on the wizened houseplant on the windowsill" (Elisabeth Brink).
Muneeza Rehman
May 03, 2023
◉Risk
(insurance) A type of adverse event covered under an insurance policy.
Muneeza Rehman
May 03, 2023
◉Chance
Used with the impersonal subject it and a following clause or infinitive to indicate the occurrence of a usually unexpected or chance event
"Now it chanced that this car-line was owned by gentlemen who were trying to make money" (Upton Sinclair).
Muneeza Rehman
May 03, 2023
◉Risk
(countable) A thing (from the perspective of how likely or unlikely it is to cause an adverse effect).
That man is going to be a big risk once he's out of prison.
Those stairs are a major risk.
Muneeza Rehman
May 03, 2023
◉Chance
(countable) An opportunity or possibility.
We had the chance to meet the president last week.
Muneeza Rehman
May 03, 2023
◉Risk
A borrower (such as a mortgage-holder or person with a credit card).
A good credit rating indicates the customer is a desirable risk.
Muneeza Rehman
May 03, 2023
◉Chance
(uncountable) Random occurrence; luck.
Why leave it to chance when a few simple steps will secure the desired outcome?
Muneeza Rehman
May 03, 2023
◉Risk
(finance) A financial product (typically an investment).
Subprime mortgages are poor risks; especially for a pension scheme.
Muneeza Rehman
May 03, 2023
◉Chance
(countable) The probability of something happening.
There is a 30 percent chance of rain tomorrow.
Muneeza Rehman
May 03, 2023
◉Risk
Hazard; danger; peril; exposure to loss, injury, or destruction.
The imminent and constant risk of assassination, a risk which has shaken very strong nerves.
Muneeza Rehman
May 03, 2023
◉Chance
To happen by chance, to occur.
It chanced that I found a solution the very next day.
Muneeza Rehman
May 03, 2023
◉Risk
To expose to risk, hazard, or peril; to venture; as, to risk goods on board of a ship; to risk one's person in battle; to risk one's fame by a publication.
Muneeza Rehman
May 03, 2023
◉Chance
To discover something by chance.
He chanced upon a kindly stranger who showed him the way.
Muneeza Rehman
May 03, 2023
◉Risk
a source of danger; a possibility of incurring loss or misfortune;
drinking alcohol is a health hazard
Muneeza Rehman
May 03, 2023
◉Chance
(Belize) To rob, cheat or swindle someone.
The car broke down a week after I bought it. I was chanced by that fast-talking salesman.
Muneeza Rehman
May 03, 2023
◉Risk
a venture undertaken without regard to possible loss or injury;
he saw the rewards but not the risks of crime
there was a danger he would do the wrong thing
Muneeza Rehman
May 03, 2023
◉Chance
A supposed material or psychical agent or mode of activity other than a force, law, or purpose; fortune; fate; - in this sense often personified.
It is strictly and philosophically true in nature and reason that there is no such thing as chance or accident; it being evident that these words do not signify anything really existing, anything that is truly an agent or the cause of any event; but they signify merely men's ignorance of the real and immediate cause.
Any society into which chance might throw him.
That powerWhich erring men call Chance.
Muneeza Rehman
May 03, 2023
◉Risk
the probability of becoming infected given that exposure to an infectious agent has occurred
Muneeza Rehman
May 03, 2023
◉Chance
The operation or activity of such agent.
By chance a priest came down that way.
Muneeza Rehman
May 03, 2023
◉Chance
The supposed effect of such an agent; something that befalls, as the result of unknown or unconsidered forces; the issue of uncertain conditions; an event not calculated upon; an unexpected occurrence; a happening; accident; fortuity; casualty.
In the field of observation, chance favors only the mind that is prepared.
It was a chance that happened to us.
The Knave of Diamonds tries his wily arts,And wins (O shameful chance!) the Queen of Hearts.
I spake of most disastrous chance.
Muneeza Rehman
May 03, 2023
◉Risk
expose to a chance of loss or damage;
We risked losing a lot of money in this venture
Why risk your life?
Muneeza Rehman
May 03, 2023
◉Chance
A possibility; a likelihood; an opportunity; - with reference to a doubtful result; as, a chance to escape; a chance for life; the chances are all against him.
So weary with disasters, tugged with fortune.That I would get my life on any chance,To mend it, or be rid on 't
Muneeza Rehman
May 03, 2023
◉Risk
take a risk in the hope of a favorable outcome;
When you buy these stocks you are gambling
Muneeza Rehman
May 03, 2023
◉Risk
Exposure to potential harm.
She didn't want to risk her health by eating expired food.
Lucas
Sep 15, 2023
◉Chance
To happen, come, or arrive, without design or expectation.
If a bird's nest chance to be before thee.
I chanced on this letter.
How chance, thou art returned so soon?
Muneeza Rehman
May 03, 2023
◉Risk
Taking actions despite potential dangers.
He decided to risk traveling during the storm.
William
Sep 15, 2023
◉Chance
To take the chances of; to venture upon; - usually with it as object.
Come what will, I will chance it.
Muneeza Rehman
May 03, 2023
◉Chance
a possibility due to a favorable combination of circumstances;
the holiday gave us the opportunity to visit Washington
now is your chance
Muneeza Rehman
May 03, 2023
◉Chance
an unknown and unpredictable phenomenon that causes an event to result one way rather than another;
bad luck caused his downfall
we ran into each other by pure chance
Muneeza Rehman
May 03, 2023
◉Chance
a measure of how likely it is that some event will occur;
what is the probability of rain?
we have a good chance of winning
Muneeza Rehman
May 03, 2023
◉Chance
be the case by chance;
I chanced to meet my old friend in the street
Muneeza Rehman
May 03, 2023
◉Chance
take a risk in the hope of a favorable outcome;
When you buy these stocks you are gambling
Muneeza Rehman
May 03, 2023
◉Chance
come upon, as if by accident; meet with;
We find this idea in Plato
I happened upon the most wonderful bakery not very far from here
She chanced upon an interesting book in the bookstore the other day
Muneeza Rehman
May 03, 2023
◉Chance
occurring or appearing or singled out by chance;
their accidental meeting led to a renewal of their friendship
seek help from casual passers-by
a casual meeting
a chance occurrence
Muneeza Rehman
May 03, 2023
Risk vs. Chance Frequently Asked Questions
Can risk be positive?
Typically, risk emphasizes potential negative outcomes, but it can sometimes have positive connotations depending on context.
Muneeza Rehman
Apr 15, 2024
Is luck the same as chance?
They're related, but luck often denotes good fortune, while chance is neutral.
Muazma Batool
Apr 15, 2024
Why is risk assessment important?
It helps identify and reduce potential harm or loss in various situations.
Muneeza Rehman
Apr 15, 2024
Is chance always 50-50?
No, chance refers to the probability which can range from 0% to 100%.
Muazma Batool
Apr 15, 2024
Can businesses eliminate all risks?
No, but they can manage and reduce risks through strategies and planning.
Muneeza Rehman
Apr 15, 2024
Can chance events be predicted?
Some can be estimated using probability, but many chance events are unpredictable.
William
Apr 15, 2024
Does taking a risk always mean there's a potential reward?
Not always; risk emphasizes potential loss, but there can be potential rewards too.
Nolan
Apr 15, 2024
Is it better to take a risk or leave it to chance?
It depends on the situation and individual preference; both have their merits and challenges.
Muazma Batool
Apr 15, 2024
Is every decision based on chance?
Not necessarily; decisions can be based on data, experience, intuition, or chance.
Kaitlyn
Apr 15, 2024
Can we control chance?
Chance denotes probability, and while we can influence some outcomes, we can't control everything.
Muneeza Rehman
Apr 15, 2024
Content Creators
Written by
Muneeza RehmanAt Comparisons.wiki, Muneeza skillfully navigates the vast sea of information, ensuring clarity and accuracy as the lead content editor. With a keen eye for detail, she curates every comparison to enlighten and engage readers.
Edited by
Muazma BatoolAs a content editor, Muazma Batool is not just a grammar guru but a creative mastermind who breathes life into every word. With an eagle eye for detail and a passion for storytelling, she transforms bland text into engaging content that captivates audiences and drives results.
