‘Chance’ is arguably a context‐sensitive expression, a fact that some have thought bears upon the debate about the compatibility of determinism with objective, non‐trivial chances (chances with values other than 0 or 1). In this paper, I argue that this attempted move from context sensitivity to compatibilism is misguided, for a number of reasons. First, it relies on a theory of context sensitivity that we have independent reason to reject. Second, the resulting compatibilist position leaves unanswered precisely the sorts of (...) questions we reasonably expect a metaphysical account of chance to answer. (shrink)