Meaning of the word "lose the horse or win the saddle" in English

What does "lose the horse or win the saddle" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

lose the horse or win the saddle

US /luːz ðə hɔːrs ɔːr wɪn ðə ˈsæd.əl/
UK /luːz ðə hɔːs ɔː wɪn ðə ˈsæd.əl/
"lose the horse or win the saddle" picture

Idiom

to risk everything on a single venture; to win big or lose everything

Example:
He decided to invest his entire savings into the startup; it was a case of lose the horse or win the saddle.
In the final round of the tournament, it's lose the horse or win the saddle for the defending champion.