double-or-nothing bet
nounUK /ˌdʌbəl ɔː ˈnʌθɪŋ bɛt/
US /ˌdʌbəl ɔːr ˈnʌθɪŋ bɛt/
A bet where you either win twice as much or lose everything.
He made a double-or-nothing bet on the last card and lost it all.
OTHER MEANINGS
2. A risky choice where success brings a big reward but failure means total loss.
Investing his savings in that startup was a double-or-nothing bet.
3. A challenge in which a player must win twice in a row or forfeit the prize.
The game show ended with a double-or-nothing bet for the jackpot.
4. Any decision that offers only two extreme outcomes, with no middle ground.
Skipping practice was a double-or-nothing bet on making the team.