Pronunciation: [t͡ʃˈɪps ɑː dˈa͡ʊn] (IPA) 
When the chips are down, it means that things have taken a turn for the worse. The spelling of the word "chips" is /tʃɪps/, with the "ch" sound pronounced like the "sh" in "she". The letter "i" is pronounced as a short "i" sound like in "sit", followed by the voiced "p" sound. To remember the correct spelling, you can try associating it with the phonetic transcription of the word: /tʃɪps/.
"Chips are down" is an idiomatic expression used to convey a specific situation or circumstance in which difficulties or challenges have become apparent or escalated, often suggesting a critical or decisive moment. The phrase originates from gambling, where chips represent the currency used in various games. When the chips are down, it implies that the bets have been placed, and one's fortunes or future are at stake.
This expression typically implies that a difficult situation has arisen requiring one to confront and deal with obstacles, pressure, or adversity. It denotes a time when resistance is needed as the outcome will determine the success or failure of a particular endeavor. The phrase can be applied to various scenarios, such as a crucial point in a business deal, a critical phase in a sports game, or a challenge in personal relationships.
Moreover, "chips are down" suggests that the circumstances at hand may expose one's true character or abilities, requiring determination, resilience, and resourcefulness to overcome obstacles. It emphasizes the importance of facing challenges head-on, making tough decisions, and taking risks in order to strive for one's goals, often with the understanding that failure is not an option. Overall, "chips are down" expresses a sense of urgency, requiring individuals to summon their strength and skills in order to overcome difficulties and emerge victorious.
