(idiomatic, British, informal) A situation in which victory has little or no value, but defeat has a huge cost.
It would have been madness to encourage them to back the mare : in fact I was on a hiding to nothing whatever happened.
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Regional slang from around the English-speaking world — British, Australian, Irish, Caribbean, Nigerian, Filipino, AAVE, and the hyphenated-English dialects that make the internet sound local.
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