"Chance-Based" refers to situations or processes where outcomes are determined by random factors rather than predictable patterns. This concept is often applied in fields like gambling, statistics, and game theory, where the likelihood of various results can be calculated but not guaranteed. In everyday life, chance-based scenarios can be seen in activities like rolling dice or drawing cards from a deck. These activities rely on randomness, meaning that each outcome is uncertain and can vary widely, highlighting the role of luck and probability in decision-making and forecasting.