Felt

From PokerWiki

To felt someone in poker is to take all of their chips (leaving them only "the felt" of the table in front of them, hence the term).

Popularized by professional poker player Phil Laak, the term felt is most often used transitively, as something one poker player does to another, though it can be used to describe one's own state ("I just got felted!").

The term can be used in cash games or tournaments; in tournaments, losing all one's chips can also be called busting out, assuming the player will no longer participate in the tournament after being felted.