The idiom "all bets are off" means that a situation has become unpredictable or uncertain, and any previous agreements or expectations are no longer valid. It is often used to describe a sudden change in circumstances that makes it impossible to predict what will happen next.
For example, if two friends were planning to go on a picnic but suddenly it starts raining heavily, one friend might say "all bets are off" meaning that their plans have changed and they need to come up with a new idea.
Similarly, if a company was planning to launch a new product but suddenly a major competitor enters the market, the company might say "all bets are off" meaning that they need to rethink their strategy because the situation has become unpredictable.
Overall, "all bets are off" is a useful idiom to describe situations where things have changed unexpectedly, and previous agreements or expectations are no longer valid.
• With the current economic situation, all bets are off regarding the company's profits this year.
• With the discovery of the new treatment, all bets are off on finding a cure for the disease.
• All bets are off when it comes to the weather in my hometown.
• The team's star player got injured before the game, so all bets are off now.
• The political landscape has changed drastically since the last election, so all bets are off for the upcoming one.
• The pandemic has disrupted every aspect of our lives, so all bets are off when it comes to predicting the future.