Take a CHANCE On is an expression that encourages someone to take a RISK and try something new. The term can be broken down into two words, 'RISK' and 'CHANCE'. The crossword solution for the term 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 means taking a RISK and trying something new, even if it may not work out.