Definition
Having recovered from a disadvantageous position.
In sports, when a losing team regains chances for winning
To return to a particular industry or discipline
How People Actually Use It
when you're friend breaks up with his longtime girlfriend and acts like he has a pair of balls again. basically he returns from injury to come back in the 4th quarter and hits on skanks with you again and win the game
"Ex: ex-pussy whipped friend: "you man i just broke up with my girlfriend, wanna hit up some bars?" Friend: dude youre back in the game!!!"
Source: Urban Dictionary