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.
di hipster 28 febbraio 2004
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.
di Dances With Peons 29 settembre 2010