Crossword Genius

Chance of loss is in racetrack environs (4)

Ross

I believe the answer is:

risk

I'm a little stuck... Click here to teach me more about this clue!

'chance of loss' is the definition.
'risk' can be an answer for 'chance' (I've seen this before). I am not sure about the 'of loss' bit.

'is in racetrack environs' is the wordplay.
'in' indicates putting letters inside.
'racetrack environs' becomes 'rk' (I can't explain this - if you can you should give a lot more credence to this answer).
'is' going inside 'rk' is 'RISK'.

Can you help me to learn more?

(Other definitions for risk that I've seen before include "Jeopardy" , "Take a chance" , "Gamble" , "The possibility of danger - chance it" , "Endanger, jeopardise" .)

I've seen this clue in the Sydney Morning Herald.
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