Carlos and I were hanging out in the hotel room when Carlos lifted a cheek and squeezed one out. Unfortunately it sounded wet. Carlos gambled and lost.
When one has "gambled and lost," they have tried to fart, but in the process, some fecal matter has come out. Usually resulting in a "shower of shame." Opposite of "gambled and won."
Rory: Hey, where's Jake?
Brian: Oh, he gambled and lost and now he is taking a shower of shame.
Rainbow gambler is term used in the middle and north of the UK to describe a compulsive and erratic gambler of limited financial status - the bottom feeders of the gambling fraternity. The term meaning they are always chasing that pot of gold at the end if the rainbow but always coming up short
Danny is a rainbow gambler, he had hardly any money to pay his bills but gambles it all, the guy is a loser