double-or-nothing wager
nounUK /ˌdʌbəl ɔː ˈnʌθɪŋ ˈweɪdʒə/
US /ˌdʌbəl ɔːr ˈnʌθɪŋ ˈweɪdʒər/
A bet where you either win twice as much or lose everything.
He made a double-or-nothing wager on the last hand of the game.
OTHER MEANINGS
2. A risky choice where success brings a big reward but failure means losing it all.
Investing his savings in that startup was a double-or-nothing wager.
3. A challenge in which a player must win twice in a row to claim the prize.
The final round was a double-or-nothing wager for the championship.
4. Any situation that forces someone to accept either a doubled outcome or total loss.
The negotiation turned into a double-or-nothing wager on the contract.