Playin' late night crazy pot size games with the Asian dealers who
With all that tax free money got deeper pockets than I do
I can't fade that kind of action but my name's there on the list
Who would go to Vegas with a game in town like this?

Stuck in chilly morning traffic 'cause I always played too long
Headed north across the bridge and wish'n you were there at home
You used to wake all sleepy headed and ask me if I won
Sometimes I'd just say nothing and now I'm living with what I've done

I'm a losin' lately gambler but that's not all I've ever been
Cuttin' back your losses is just another way to win

The chips were racked and ready and I was standing up to leave
Looked down and caught a diamond queen tuggin' at my sleeve
My bleary, up-all-nighted eyes misread it for a heart
Now the money's gone, it's just past dawn and we're a half world apart

I'm a losin' lately gambler but that's not all I've ever been
Cuttin' back your losses is just another way to win

I sat down with 'em one last time as I passed through months ago
Donated a couple thousand, smiled, stood up and hit the road
With that old familiar empty feelin' of time and treasure lost
The game's the same, ain't nothin's changed except now I know the cost

I'm a losin' lately gambler but I've booked my share of wins
I still see some value there but my edge is pretty thin
I'm a losin' lately gambler but that's not all I've ever been
Cuttin' back your losses is just another way to win

I can't fade that kind of action but my name's there on the list