To lose when winning is an absolutely sure thing. See John Kerry's bid for the U.S. Presidency in 2004.
In 2004, John Kerry became the ultimate example of how to snatch defeat from the jaws of victory.
by Jake in NYC October 10, 2006
1 more definition
To throw away a likely win through idiotic mistakes or dumbassery.
Only Tony Romo can throw for 5 TD and 506 yards and still snatch defeat from the jaws of victory.
by Daddy, Mack (ret.) October 06, 2013