This phrase is actually a mistake. Instead, one should say "playing the horses". Playing the Ponies is something small boys would say.
Eric received a text message that the ponies were loose and used an incorrect sentence involving playing the ponies.
by death row March 25, 2011
"Im gonna head down to OTB. You wanna come?" - Gambling Degenerate
"No thanks. Why do you piss your money away playing the ponies?" -Smart Friend
"No thanks. Why do you piss your money away playing the ponies?" -Smart Friend
by dmb7211 June 05, 2010