Long Shot

Longshot is an absolute outsider.

The word longshot in the tipster’s slang refers to an explicit outsider. The very phrase in a broader sense refers to a “risky bet” – i.e. betting on the victory of a notorious outsider is by definition risky and can result in a loss of money. It also means an adventure and a miserable chance.

In horse races, for example, a horse in which one sees an outsider is considered a long shot, since she has a meager chance of winning the race.