The purpose of grant peer review is to identify the most excellent and pro- mising research projects. However, sociologists of science and STS scholars have shown that peer review tends to promote solid low-risk projects at the expense of more original and innovative projects that often come with higher risk. It has also been shown that the review process is affected by significant measures of chance. Against this background, the aim of this study is to the- orize the notions of academic judgment and agonistic chance and to present and analyze situations in which expert reviewers are faced with the challenge of trying to decide which grant proposals to select when there is strong dis- agreement. The empirical analysis is based on ethnographic observations of ten panel groups at the Swedish Research Council in the areas of natural and engineering sciences. By focusing on disagreement, the study provides a more in-depth understanding of how agonistic chance creeps into the peer-review process and becomes part of the consensus that is created.