Used in the case of someone who is a womaizer and is good with women but shit at everything else. fortunes fool when it comes to everything but women.
And to quote Jay-Z
Guy 1: " So Steve, Wha's Shakin' Baby?!Wha's Happenin'Anythin' Bad?"
Steve: "To quote Jay I got 99 Problems But a Bitch Aint One"
This termonology can be used in two scenarios, the first being used as a insult, usually behind someones back, and is a derogative from the 'Wanker' and the term comes from someone mumbling it.
The second scenario can be used as a cry, as appose to a snide comment, shouting it out as someone trips over or makes a blunder
"Hey you seen that fat kid trying to score with that new girl?"
'After two teenagers see a elderly gentleman fall over one cries out'