A term coined in urban penitentiaries. Meaning one who gambles without enough capital to cover his end. One who commits this offense in prison usually ends up having to pay with ass - His own. However in a street setting this usually results in a vicious beat down and/or loss of life.
Man, that nigga Sloan bet Rico $5000 on the next Saints game. He's Ass Betting fo' real. He couldn't even make rent this month! Rico 'finna get in that ass!
It is generally know as a sexual act that only happens in a gas station in Cleveland, it involves a tiger, 3 bowls of pudding, a german gas mask, and 411.385 plastic dildos.
It doesn't matter how much you want to continue riding beating a dead horse is not going to get you anywhere.
If something is already done and over with there is no point in still talking about it.
If something is already broken there is no point in trying to use it.
Someone breaks up with there girl/boyfriend and continues to bitch about them to there friends weeks later. That person is beating a dead horse, the relationship is over there is no point in thinking about it since the matter is already resolved with you having broken up.
Relationship = dead horse
Bitching about it = beating it
Trying over and over to start your car after you've been in an accident where it is clear that the car is not going to work.
Broken Car = dead horse
Trying to start it = beating it