1. A rejection or refusal.
2. An explanation that something did not occur.
In either instance, "no
dice" is used to indicate that there is no chance or probability of the event happening.
Dice represents the likelyhood of whatever item taking place (by the roll of
the die), and not having dice means that there is not even a
slim chance.
1.
Boy: Will you go out with me?
Girl:
No dice. (
No chance in hell.)
2.
"I was hoping that I would run into her at
the park, but
no dice." (She was not at the park, therefore there was never any possibility.)