If something is a hazard, it is a potential source of danger. Balloons are fun, but they're a hazard for little kids who might put them in their mouths.

If you play miniature golf, you have to watch for hazards on the course — obstacles like the sand trap beside the dinosaur or the water hazard just past the windmill. As a verb, hazard means to take a risk, especially for the chance of a good return. You might hazard your chances at the roulette table or hazard a guess — that is, risk making a guess when you aren't certain.

Definitions of hazard
  1. noun
    an unknown and unpredictable phenomenon that causes an event to result one way rather than another
    synonyms: chance, fortune, luck
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    bad luck, mischance, mishap
    an unpredictable outcome that is unfortunate
    even chance, toss-up, tossup
    an unpredictable phenomenon
    type of:
    any state or process known through the senses rather than by intuition or reasoning
  2. noun
    a source of danger; a possibility of incurring loss or misfortune
    “drinking alcohol is a health hazard
    synonyms: endangerment, jeopardy, peril, risk
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    health hazard
    hazard to the health of those exposed to it
    moral hazard
    (economics) the lack of any incentive to guard against a risk when you are protected against it (as by insurance)
    occupational hazard
    any condition of a job that can result in illness or injury
    sword of Damocles
    a constant and imminent peril
    hazard to humans or the environment resulting from biological agents or conditions
    type of:
    a cause of pain or injury or loss
  3. noun
    an obstacle on a golf course
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    bunker, sand trap, trap
    a hazard on a golf course
    water hazard
    hazard provided by ponds of water that the golfer must avoid
    type of:
    an obstruction that stands in the way (and must be removed or surmounted or circumvented)
  4. verb
    put at risk
    synonyms: adventure, jeopardize, stake, venture
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    type of:
    lay on the line, put on the line, risk
    expose to a chance of loss or damage
  5. verb
    take a risk in the hope of a favorable outcome
    synonyms: adventure, chance, gamble, risk, run a risk, take a chance, take chances
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    go for broke
    risk everything in one big effort
    luck it, luck through
    act by relying on one's luck
    type of:
    assay, attempt, essay, seek, try
    make an effort or attempt
  6. verb
    put forward, of a guess, in spite of possible refutation
    synonyms: guess, pretend, venture
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    anticipate, call, forebode, foretell, predict, prognosticate, promise
    make a prediction about; tell in advance
    surmise, suspect
    imagine to be the case or true or probable
    interpret the significance of, as of palms, tea leaves, intestines, the sky; also of human behavior
    outguess, second-guess
    attempt to anticipate or predict
    predict from an omen
    bet, wager
    maintain with or as if with a bet
    calculate, forecast, project
    predict in advance
    prophesy, vaticinate
    predict or reveal through, or as if through, divine inspiration
    type of:
    talk over conjecturally, or review in an idle or casual way and with an element of doubt or without sufficient reason to reach a conclusion
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