A chip and a chair
Definition of a chip and a chair
Literally "a token and a chair". The expression could also be translated as "it's not over until it's over". You've probably seen a similar situation on a table of poker before. A player loses 99% of their stack. He is left with 1 chip or the equivalent of 1 chip. Eventually, he wins the next hand, which gives him back a tiny stack. The hand immediately after, he quadruples his stack by going all in 4 way with AA. He lays down a few hands and doubles his stack again. Thirty minutes later, he is the chip leader and 45 minutes later, he wins the tournament. As long as you have a chip, anything is possible.
The expression a chip and a chair
A chip and a chair is often a phrase that will be thrown around to encourage a player who has just lost a large part of his stack. a chip and a chair is a way of saying "keep hope my good man, as long as you have at least one chip and a chair, you can still win the tournament". We will also use the expression to talk about the spectacular lifts we have already seen.