When something occurs you have no control over and nothing/no one has direct responsibility for. Essentially there is no use fighting the situation because nothing is going to change it. Throw in the towel, give up
Man, nothing seems to be working out, might as well chalk it up to the game.
Being Favored to win. The opposite of an under dog. Came around during old horse races when all the bets were wriiten in chalk and the favorite horse to win was known as the "chalk daddy."
"The Packers have the best odds to win the Super Bowl this year again."