Bleed
Bleed means to win or lose money steadily in small amounts.
The simple explanation
To bleed is to win or lose money in small amounts over time rather than in one big hand. The word is used for gradual losses caused by repeated small mistakes or by tilt, and also for taking a large sum from an opponent a little at a time.
A closer look
The meaning changes with who is speaking. When a player says he is bleeding chips, he usually means that small leaks, such as calling too often or paying off small bets, are costing him. When a player says he bled someone, he means he won most of that player's stack in many small pots. The first meaning is a warning: a leak that seems small can be as damaging as a single big mistake.
A practical example
A player wins a big pot with kings, then loses chips in many small pots over the next hour. He says he bled the winnings away.
Full explanation
Bleed means to win or lose money steadily in small amounts.
Bleed means to gradually win or lose money over time. In one usage, you win a large amount from a game or a player a little at a time. In another, a player consistently loses chips through poor play, often because of tilt.
Gradual losses are easy to miss because no single hand is a disaster. Calling small bets too often, playing weak hands out of position and paying off river bets can all add up.
Players watch for bleeding in their own results by reviewing their play. If a stack keeps shrinking without a big hand, a leak is a likely cause.
The word is related to blow back, which means to lose most of a win.