Central to this group of words when considered as verbs is the idea of confronting an uncertain or precarious situation with the intention or hope of obtaining a satisfactory outcome.

When the purpose is to show courteous disagreement or resolve, venture is preferred.

• I venture to contradict you; He ventured to insist on certain changes.

But if the emphasis is on challenge or defiance, the otherwise closely synonymous dare is more often used.

• I dare you to do it; He wouldn’t dare to cancel the contract.

Bet , gamble and wager carry the suggestion of pitting one’s wits, knowledge and resources against a set of equally probable events, only one of which is or can be favourable: to bet on the races; to gamble away a fortune at baccarat; to wager that a certain candidate will win an election. Gamble , though applicable in virtually every situation covered by the others, implies a more reckless commitment under less favourable circumstances: to gamble (not bet or wager ) on the stock exchange. Stake also has the same general sense: to stake one’s reputation on the outcome. More specifically it means giving money or assistance in advance to further a venture , on condition of sharing in any gains.

• He staked a large sum in his friend’s new factory.

Chance means to happen or come about accidentally: She changed to find her sister at home; it may refer also to a more or less deliberate attempt to bring some desired but problematical event to pass: I’ll chance it. In this latter sense it is nearly interchangeable with risk , but risk contains an added suggestion of a damage, loss or injury not to be lightly ignored: The general risked his whole campaign on the outcome of one battle. Hazard points up the same distinction: to hazard all his winnings on the next fall of the cards. But it may also substitute at a milder level for venture : to hazard a guess.