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3.
This is phrase derived from the alternate meaning of 'Broke', "One who's unattractiveness is displeasing to the eye".

Usually coinciding in time with the most generally accepted form of last call, this is the period in which men at the bar realize that they are probably not going to bring home any prize-winning beauties and focus their game on the uglies, disregarding both attractiveness and personality alike. This usually leads to the being in the state of coyote ugly the following morning.
The DJ announced over the mic that it was last call. Taking queue, Johnny scanned the dance floor for anybody, thick or thin, homely and lonely, who would come home him. Yes, it was time to go for broke.
by MC Cancerpants July 31, 2006
20 145
 
1.
A gambling term meaning risking everything to reap substantial reward.
I'm goin' for broke on this hand.
by Greg June 09, 2005
248 34
 
2.
Another way of saying "go for it". The term gained popularity after being used in a certain Street Fighter game, being shouted by the "announcer" before the beginning of each match.
"Alright dude, its about time...I'm about to ask that girl out."

"Do it man, go for broke!"
by Anonymous9002 August 09, 2007
124 56