Phrase originally made famous on the old
ABC's Wide
World of Sports show that aired on Saturday afternoons. A hapless ski jumper fell off the jump and had the misfortune to have that little video
clip replayed about a zillion times over the years.
Antonym is Thrill of Victory
Bringing you the wide
world of sports, where you can experience the thrill of victory and the agony of defeat all within the comfy confines of your living room.
He blew that $1,000 Nassau and then got
fired for letting down the Chairman's
team - talk about the agony of defeat.