Chances, probability (4)
I believe the answer is:
odds
I believe this clue is a double definition.
'chances' is the first definition.
(the odds of something happening)
'probability' is the second definition.
(I know that odds is a type of likelihood)
(Other definitions for odds that I've seen before include "ten to one?" , "The likelihood of something occurring rather than not" , "Scraps" , "Betting ratio" , "(In betting) chances" .)