Ambs-ace

from The Collaborative International Dictionary of English v.0.48

Ambs-ace \Ambs"-ace\, n. [OF. ambesas; ambes both (fr. L. ambo)
   + as ace. See {Ace}.]
   Double aces, the lowest throw of all at dice. Hence: Bad
   luck; anything of no account or value.
   [1913 Webster]