likelihood
Word family
Synonym discussion
Sense: noun/1
All four words describe how possible or expected an outcome is, but they differ in formality and domain. Probability is the most precise and is used in mathematics and formal analysis — it suggests a numerical or statistical measure. Chance is the most everyday term and works in casual conversation ('there's a good chance it will rain'); it also carries the idea of luck or fortune. Odds implies a comparison between two outcomes (e.g. 'the odds of winning are three to one') and is common in betting, sports, and risk assessment. Prospect leans toward a positive future opportunity ('the prospect of a promotion') and often implies desirability. For neutral, general statements about how likely something is, likelihood is the best choice — it is formal enough for academic writing but natural enough for professional speech.
Common collocations
Etymology
Likelihood comes from the adjective 'likely' (meaning probable) combined with the suffix '-hood', which turns an adjective into a noun expressing a state or condition (like 'childhood' or 'neighbourhood'). 'Likely' itself entered English from Old Norse 'líkligr', meaning 'likely' or 'fitting', and is related to the Old English root 'gelīc' meaning 'similar' or 'like'. The word 'likelihood' first appeared in English around the early 1300s and has been used steadily since to describe probability.