Losing to a shitty team in any sport. In college football, a "bad loss" will typically knock a team out of contention for a national championship. In college basketball too many "bad losses" can keep a team out of the NCAA tournament.
Person 1: "Wow, I can't believe Stanford lost to Utah! What a bad loss!"
Person 2: Not according to Jon Wilner! He still has them ranked #3!
Person 1: I can't believe they are still being considered for the BCS title game. I mean, they lost to UTAH!!