Chance on is a phrase that means to take a RISK or gamble. It can be used in many different contexts, such as taking a chance on a new business venture, a relationship, or a job. The crossword solution for the term chance on is 'RISK, ' which is a four-letter word. RISK is defined as the possibility of suffering harm or loss; a situation involving exposure to danger. Taking a chance on something involves accepting the potential risks associated with it.