Usually used in Gambling. To double the amount of a previous bet. Whoever wins will in exchange get twice the amount of the bet before.

Two people arm wrestling, the winner will get $10.

First Guy: Awh you beat me, let's double or nothing.

Second Guy: Okay, lets play again.

Second guy loses, First guy wins double the previous bet, being $20 even though he lost the first time.
by Lateeshaaaa January 04, 2008
4 more definitions
Top Definition
To make a second wager following a first one. The loser of the first wager will either owe the winner of the first wager double the original bet (if he loses again) or nothing (if he wins).
Fred and Raul bet $10 on a ping pong game. Fred won the first game, so Raul owes him $10. Raul offers "double or nothing." Fred accepts. If Fred wins again, Raul owes him double the original bet ($20). If Raul wins the second game, they are even and he owes Fred nothing.
by wh33ls January 14, 2010
The option in a bet where one of the contestants say they would like to play again (whatever they are playing) for double the amount of the original bet or lose everything they're in for.
Two guys playing pool:

Guy #1: Aw, damn! You beat me. Guess I owe you the $50... Hey, wait. Double or nothing?

Guy #2: Sure, bud. Your loss :)

*Guy #2 looses*
*Guy #1 receives $100*
*Guy #2 cries like pathetic emo child*
by MicCheck May 12, 2005
twice the money or you lose all the money in street racing
we gonna run it double or nothing?
by Anonymous August 23, 2003
When two empty glass bottles are inserted into a woman’s anus and box. The bottles are left in for half an hour. When the bottles are removed, quickly set the anus bottle ablaze, then bust her face with the other one.
Lafawnda: Why do you have a black eye, your hair is singed and you have a diaper on?

Shaniqua: Bitch, I was given two options. Double, or nothing. I chose the latter, leaving me with an irritated black eye, nappy ass hair and I can’t stand up without emptying my bowels.
by Bored at Mansfield April 05, 2005

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