This is a common olden saying that was said a lot back in the olden days. I think I heard someone say this one time awhile ago. You'd rather have a horse that could walk to the water, than two horse that'll cost me more in the long run.
Man that reminds me of the saying "I’d rather a good horse that’ll walk to the river, than have to buy 2 bad horses that will ultimately cost more in the long run"
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.