Severity ranges from "Minor Cupset" (i.e. a team beating another in the division above), "Major Cupset" (i.e. a team defeating another two or three divisions above them), to "Miraculous Cupset" (i.e. a team that isn't even a part of the 'official' league(s), defeats a team in the top divisions of the official league(s).)
"Cupset" is a contraction of the words "Cup Upset". It derives from the popular FA Cup Competition run by the Football Association for English football clubs, but can theoretically be used for any competition with similar league styles.
"As it stands, it's Liverpool nil, Stevenage one, and with only five minutes to play, Liverpool are looking at a major cupset."
The word was invented on January 5th 2008 by BBC Sports Correspondent Caroline Cheese, and introduced to the 606 community.