worst situation imaginable; worse than being completely out of money and with no otheroptions.
When Ken was cheering up his buddy Cori about his financial hardships, Ken replied; well I'd rather be broke than broke back! Which made Cori realize that there are worse things than being broke.
Origin of phrase/word: Broke Back Mountain (The movie)
The commiting of an act or acts that would lead a reasonable person to come to the conclusion that something or someone is gay.
In texas hold em poker terms it means pocket Kings (2 kings). A king (any suit) is often called a cowboy and as we all know in the movie "Broke Back Mountain" two cowboys were together hence the poker name for pocket kings or two cowboys together.
If someone has a pocket ace and king its called a "Cowboy with a Bullet". If you have pocket or 2 kings, a better hand, then you would have "Broke Back Mountain".