Top definition
an expression meaning a situation in which one factor alone can change or cancel out everything
When Janine is around Corey, all bets are off...the poor dude just can't be himself anymore.
by hipster February 28, 2004
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2
The situation has drastically changed. Any guarantees, implications, or assumptions regarding its outcome no longer apply.
The car should run OK. If you wanna race it, though, all bets are off.
by Dances With Peons September 29, 2010
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