Quantum scrambling describes the spreading of information into many degrees of freedom in quantum systems, such that the information is no longer accessible locally but becomes distributed throughout the system. This idea can explain how quantum systems become classical and acquire a finite temperature, or how in black holes the information about the matter falling in is seemingly erased. We probe the exponential scrambling of a multiparticle system near a bistable point in phase space and utilize it for entanglement-enhanced metrology. A time-reversal protocol is used to observe a simultaneous exponential growth of both the metrological gain and the out-of-time-order correlator, thereby experimentally verifying the relation between quantum metrology and quantum information scrambling. Our results show that rapid scrambling dynamics capable of exponentially fast entanglement generation are useful for practical metrology, resulting in a 6.8(4)-decibel gain beyond the standard quantum limit.