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."
by Jaker February 04, 2006
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.
by perogi February 02, 2007
by Colorado Bootman October 01, 2021
by Bill June 18, 2003