Learn English – the origin of “when the chips are down”

etymologymeaning

I can understand from context that "when the chips are down" means "when things go really badly."

But where does the expression come from? Does it have anything to do with casino chips, and being on a bad run?

Best Answer

It seems to have two similar meanings from the same source - your stack of casino chips

1, "a critical time", ie when you put the chips down to make your choice - as in roulette.
2, "when things are bad", ie when your stack of chips are low - you are losing.

Google ngrams only has significant use from the 1940s and it isn't clear which meaning was first.