“To go broke” is a US slang meaning to risk everything for a big reward, often used in the context of gambling. Other phrases like “go out” or “shoot the works” were also used in the past, while “all in” is more common now, possibly due to the popularity of Texas Hold’em. The word “broke” refers to having no money, and being in debt is referred to as “the other side of bankruptcy.”
The English idiom “to go broke” means to risk everything for a big reward. This is used in various different contexts to express the idea of taking the greatest risks for the most potential rewards. Historians of the word have identified this phrase as predominantly US slang, where more technical forms of expression might include “risk or gamble it all.”
Originally, most experts agree that this phrase was used in the context of gambling. Playing cards for money has been a popular pastime in English-speaking societies for centuries. Historians of the word date the phrase “go all out” at least 100 years old, according to modern references. Many other idioms have been established around the extensive pursuit of gambling, which, while heavily regulated in some places, still persists as a common activity.
Along with the phrase “go broke,” English speakers in the past commonly used phrases like “go out” or “shoot the works” to express the same idea. In modern English societies, many speakers are more likely to use the common phrase “all in” where the phrase refers to putting all of one’s stake, physically represented by poker chips or money, into a common pot for a specific bet. Many familiar with these terms believe that the popularity of the phrase “all in” in modern times has to do with the emergence of a popular game called Texas Hold’em, in which players are often encouraged to bet everything for whole collective dish.
In terms of word choice, the phrase “going for broke” uses the word “broke” to indicate the potential outcome of the subject losing all of their money. In popular usage, the word “broke” often refers to the condition of having no money. Being broke doesn’t necessarily mean being in debt, but it does mean having no capital or assets to use to buy things. Modern English speakers may also use the phrase, “the other side of bankruptcy,” to refer to having a significant debt that they are unable to pay.
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