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Meaning of 'You pays your money and you takes your chances'

What does the saying 'You pays your money and you takes your chances' mean?

Idiom: You pays your money and you takes your chances

Meaning:

You pays your money and you takes your chances means that when you do something that involves a risk, you cannot control the outcome, so you may win or lose and should accept that.

Country: International English | Subject Area: Money | Usage Type: Both or All Words Used
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