This is a really useful phrase to use in spoken English. You will hear it a lot in movies and real spoken English. If you have a lot of “time on your hands” it means that you have a lot of free time.
Here is a useful example sentence to get the idea of how to use the phrase:
I quit work about a month ago. I’ve got so much time on my hands now. I think I need to start doing something useful like learning a new language or learning how to play a musical instrument. I’m a bit embarrassed to admit it, but all I’ve done in the past month is lie on the couch and watch TV.
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