Lyric discussion by Sketchaboy 

Cover art for Loser lyrics by Jerry Garcia

DIsagree with all the above.

This is a about a desperate (in every way) cowboy who is a drunk gambler down on his luck. He's begging his friend to loan him (And I could pay you back with one good hand) $10 so he buy a hooker (Well, I got no chance of losin' this time.) Classic story and one hell of a song! Love ya Jerry man!

My Interpretation