When something unforgettable and against incredible odds happens that is awesome for one party or person and terrible for everyone else. This term is usually used in Texas Holdem but can be expanded to other competitive settings as well.
"So, I heard you lost $100 to a straight on the river."
"He called my all in on the flop, thinking he already had the straight when he just had a gun-shot chance. With four outs, the dick caught it."
"Wow, that's so much fucking durka."