take a chance vs hazard

take a chance is not a noun while hazard is a noun.

Word	Noun	Adjective	Verb	Adverb
take a chance	No	No	Yes	No
hazard	Yes	No	Yes	No

As verbs, take a chance and hazard are synonyms defined as:

take a chance and hazard: take a risk in the hope of a favorable outcome

Other synonyms of take a chance include adventure, chance, gamble, risk, run a risk, take chances.

take a chance (noun)	hazard (noun)
	an obstacle on a golf course
	an unknown and unpredictable phenomenon that causes an event to result one way rather than another
	a source of danger; a possibility of incurring loss or misfortune

take a chance (verb)	hazard (verb)
take a risk in the hope of a favorable outcome	put forward, of a guess, in spite of possible refutation
	take a risk in the hope of a favorable outcome
	put at risk