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To bet against a racehorse on the chance of its losing, without having the wherewithal to pay if it wins.
Definition source: English Wiktionary via Wiktextract
Topics: gambling, games
No example sentence was provided for this meaning.
Meaning relationships
Synonyms: none provided
Antonyms: none provided
Perhaps from the old custom of ladies betting their gloves, expecting to be paid if they won but not to pay if they lost.