hiding to nothing

Etymology
From horse racing, ;, e.g., 6 to 1. Literally, the phrase can be described as to bet on a contest whose outcome is at worst a beating, or at best nothing. A heavily favored team in a sporting contest earns no credit for victory, but is shamed by defeat; this team is said to be on a hiding to nothing.

Noun

 * 1)  A situation in which victory has little or no value, but defeat has a huge cost.

Usage notes

 * Can be used to describe any contested outcome.