Likelihood vs. Risk — What's the Difference?

The state or fact of something's being likely; probability

In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences.

The state of being probable; probability.

The possibility of suffering harm or loss; danger.

Something probable.

A factor, thing, element, or course involving uncertain danger; a hazard

The probability of a specified outcome; the chance of something happening; probability; the state or degree of being probable.

The danger or probability of loss to an insurer.

The probability that some fixed outcome was generated by a random distribution with a specific parameter.

The amount that an insurance company stands to lose.

Likeness, resemblance.

The variability of returns from an investment.

(archaic) Appearance, show, sign, expression.

The chance of nonpayment of a debt.

Appearance; show; sign; expression.

One considered with respect to the possibility of loss

Likeness; resemblance.

To expose to a chance of loss or damage; hazard.

Appearance of truth or reality; probability; verisimilitude.

To incur the risk of

Statistical probability; probability of being true or of occurring in the future; as, the likelihood of being abducted by aliens is close to zero..

(uncountable) The probability of a negative outcome to a decision or event.

The probability of a specified outcome

(uncountable) The magnitude of possible loss consequent to a decision or event.

The potential negative effect of an event, determined by multiplying the likelihood of the event occurring with its magnitude should it occur.

(countable) A possible adverse event or outcome.

(insurance) A type of adverse event covered under an insurance policy.

(countable) A thing (from the perspective of how likely or unlikely it is to cause an adverse effect).

A borrower (such as a mortgage-holder or person with a credit card).

(finance) A financial product (typically an investment).

(insurance) An entity insured by an insurer.

(transitive) To incur risk of (something).

(transitive) To incur risk of harming or jeopardizing.

(transitive) To incur risk as a result of (doing something).

Hazard; danger; peril; exposure to loss, injury, or destruction.

Hazard of loss; liabillity to loss in property.

To expose to risk, hazard, or peril; to venture; as, to risk goods on board of a ship; to risk one's person in battle; to risk one's fame by a publication.

To incur the risk or danger of; as, to risk a battle.

A source of danger; a possibility of incurring loss or misfortune;

A venture undertaken without regard to possible loss or injury;

The probability of becoming infected given that exposure to an infectious agent has occurred

The probability of being exposed to an infectious agent

Expose to a chance of loss or damage;

Take a risk in the hope of a favorable outcome;