There are several synonyms for the phrase "good chance." The first one is "likelihood," which means the probability or chance of something happening. Another synonym is "opportunity," which refers to a favorable circumstance that allows for a positive outcome. "Prospect" is also a good substitute, denoting the possibility of something happening in the future. "Possibility" and "potential" are two other synonyms frequently used to describe a good chance. "Odds" and "chances" are commonly used in sports and gambling contexts to refer to the likelihood of winning or losing. Lastly, "favorable possibility" is another synonym that conveys the idea of a promising opportunity.