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.
Prices shown in USD.
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