A phrase used to describe something of which the chances of achieving said thing are so low, doing so feels like winning the lottery.
Father: Don't get depressed about not getting that scholarship son; it was a crap shot at best. Out of the thousands that applied for it, they awarded it to two, maybe three people. I’ve applied for jobs I knew I was 100% qualified for and would have made an excellent employee. I never heard anything.
Father: Because they get so many applicants that someone even seeing my resume is a 500 to 1 shot.
Son: Rather like that scholarship. Although I had the grades and other requirements, so many other people applied that the odds of even hearing from them were like one on a thousand.
Father: Exactly, it was a crap shot. But, although it’s a crap shot, keep trying. Some day you’ll be the one guy in a 1000 they select.