chance
The possibility that something might happen, especially uncertainly.
Chance means the possibility that something might happen, especially when you can't predict or control it. When there's a chance of rain, the weather might or might not bring showers. When you take a chance on trying out for the school play, you're doing something even though success isn't guaranteed.
The word captures that uncertain space between what definitely will happen and what definitely won't. If your teacher says there's a good chance the field trip will happen, she means it's likely but not certain. If something happens by chance, it occurs randomly or accidentally, like running into your best friend at the park when neither of you planned to be there.
Chance can also mean an opportunity: “This is my chance to show what I can do.” Here it suggests a moment when circumstances line up favorably, even if just temporarily.
Sometimes people take chances or take a chance, meaning they do something risky because the potential reward seems worth it. A scientist might take a chance on an unusual experiment. An inventor might take a chance on a design nobody's tried before. Taking chances involves accepting uncertainty in pursuit of something you value.
As a verb, chance means to happen unexpectedly: “I chanced upon an old photo.” The phrase by any chance softens a question: “Do you, by any chance, have an extra pencil?” It acknowledges you're asking for something that might not be available.