1) When the team/player one bet on loses in spectacular fashion, causing emotional stress and financial destitution to the gambler. This could be due to a blowout loss or a last-second heartbreaking backdoor cover.

2) When one's favorite team/player loses in spectacular fashion, causing emotional stress to the fan.

One may add "sport" or "kid" to the end of the phrase for more effect.
A Yankees fan watching Game Seven of the ALCS exclaims, "game effort, sport" as Johnny Damon hits a grand slam.

by Jesse Willhide October 25, 2007
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