Almost. It's about a broke ex-boxer who makes a comeback and fights the champ. He knows he can't win the fight, but he bets on himself to go the distance. That is, he bets on himself to survive through the last round without getting KO'd (hence, "my bookie is crying/my wife thinks I'm dying/but I've got a nest egg that's hatching in the final round").
Almost. It's about a broke ex-boxer who makes a comeback and fights the champ. He knows he can't win the fight, but he bets on himself to go the distance. That is, he bets on himself to survive through the last round without getting KO'd (hence, "my bookie is crying/my wife thinks I'm dying/but I've got a nest egg that's hatching in the final round").