Definition

An unlikely, heartbreaking loss on a bet that seemed like it was going to win. Often occurs due to a sudden swing at the end of a contest (a last-second score or, in boxing, a surprise knockout).

Formula

Example

You bet on “fight goes the distance.” It’s the final round and looks safe, but one fighter scores a KO with seconds left – a **bad beat** for over/distance bettors, who lose an almost certain winning bet at the last moment.