What do you mean by "chance" here? To take the risk something?
ex)The highway was busy. The navigation system was telling me to go straight on, but the last time I trusted it, I drove through a duck pond. This time, I decided that I'd stick to the old way and use the road signs. I saw a sign up ahead. I attempted to move to the inside lande but there was a big truck coming up from behind. I was trapped in the middle lane. The sign approached fast, perfectly unseen by the truck. Is the truck slowing down on purpose just to obstruct my view? Before I came to any conclusion, the truck was gone. I just gave the truck a blank stare. It was time to chance the duck pond again.
It means to do something despite being aware of a risk, or not being certain of the result.
Similar: "I'll take my chances with the duck pond".
not a teacher