Used when someone benefits from two different situations without the downsides.

Situational Use

The phrase is metaphorical and shouldn't be taken literally; it's about benefits rather than worlds.

Not Literal

The phrase has a positive connotation, suggesting an ideal or favorable scenario.

Emphasizes enjoying benefits from two opportunities at the same time.

Recognize it as an idiomatic expression not intended for literal analysis.

It's often used when one would expect to make a trade-off, but doesn't have to.