The Collaborative International Dictionary of English v.0.48:

Hazard \Haz"ard\ (h[a^]z"[~e]rd), v. i.
   To try the chance; to encounter risk or danger. --Shak.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Hazard \Haz"ard\, v. t. [imp. & p. p. Hazarded; p. pr. & vb.
   n. Hazarding.] [Cf. F. hasarder. See Hazard, n.]
   [1913 Webster]
   1. To expose to the operation of chance; to put in danger of
      loss or injury; to venture; to risk.
      [1913 Webster]

            Men hazard nothing by a course of evangelical
            obedience.                            --John Clarke.
      [1913 Webster]

            He hazards his neck to the halter.    --Fuller.
      [1913 Webster]

   2. To venture to incur, or bring on.
      [1913 Webster]

            I hazarded the loss of whom I loved.  --Shak.
      [1913 Webster]

            They hazard to cut their feet.        --Landor.

   Syn: To venture; risk; jeopard; peril; endanger.
        [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Hazard \Haz"ard\ (h[a^]z"[~e]rd), n. [F. hasard, Sp. azar an
   unforeseen disaster or accident, an unfortunate card or throw
   at dice, prob. fr. Ar. zahr, z[=a]r, a die, which, with the
   article al the, would give azzahr, azz[=a]r.]
   1. A game of chance played with dice. --Chaucer.
      [1913 Webster]

   2. The uncertain result of throwing a die; hence, a
      fortuitous event; chance; accident; casualty.
      [1913 Webster]

            I will stand the hazard of the die.   --Shak.
      [1913 Webster]

   3. Risk; danger; peril; as, he encountered the enemy at the
      hazard of his reputation and life.
      [1913 Webster]

            Men are led on from one stage of life to another in
            a condition of the utmost hazard.     --Rogers.
      [1913 Webster]

   4. (Billiards) Holing a ball, whether the object ball
      (winning hazard) or the player's ball (losing hazard).
      [1913 Webster]

   5. Anything that is hazarded or risked, as the stakes in
      gaming. "Your latter hazard." --Shak.
      [1913 Webster]

   6. (Golf) Any place into which the ball may not be safely
      played, such as bunkers, furze, water, sand, or other kind
      of bad ground.
      [Webster 1913 Suppl.]

   Hazard table, a table on which hazard is played, or any
      game of chance for stakes.

   To run the hazard, to take the chance or risk.

   to hazard, at risk; liable to suffer damage or loss.

   Syn: Danger; risk; chance. See Danger.
        [1913 Webster]

WordNet (r) 3.0 (2006):

hazard
    n 1: a source of danger; a possibility of incurring loss or
         misfortune; "drinking alcohol is a health hazard" [syn:
         hazard, jeopardy, peril, risk, endangerment]
    2: an unknown and unpredictable phenomenon that causes an event
       to result one way rather than another; "bad luck caused his
       downfall"; "we ran into each other by pure chance" [syn:
       luck, fortune, chance, hazard]
    3: an obstacle on a golf course
    v 1: put forward, of a guess, in spite of possible refutation;
         "I am guessing that the price of real estate will rise
         again"; "I cannot pretend to say that you are wrong" [syn:
         guess, venture, pretend, hazard]
    2: put at risk; "I will stake my good reputation for this" [syn:
       venture, hazard, adventure, stake, jeopardize]
    3: take a risk in the hope of a favorable outcome; "When you buy
       these stocks you are gambling" [syn: gamble, chance,
       risk, hazard, take chances, adventure, run a risk,
       take a chance]