lost the gamble Share definition Flag Past tense version of losing the gamble--an unintentional emission of fecese during intended flatulence. "Why do you look so nervous?" "I tried to fart, but I totally lost the gamble." lost the gamble by bscepter February 12, 2005 0 0 Get merch Get the lost the gamble mug. Buy Now — $32.95 See more merch