Belly-Up poker
1) Honestly; usually preceded by play. To play belly-up implies
honest play from a usually dishonest player. "Why do I
deal myself seconds?
Because I can't win when I play belly-up."
2) Playing carefully, as opposed to recklessly. "I don't
lose as much when I play belly-up, but I don't have any fun,
either."
3) Broke; busted. "I went belly-up after I had that flush
beat".