Said also as an expletive, This term is used as a replacement for ufck or ish. Bankrupt is the opposite of lotto.
I log off and restart every time I see that guy online, cheating punk! Last time he got inside the ceiling and camped there the whole game. It was so bankrupt, he would shoot through the walls but you couldn't so much as touch him once he got there. People like that take all the fun out of playing.