A degenerate is someone who has very few if any prospects, whether it is job/family/love. They think that playing poker will improve their life standing, but they stink at it too. They don't wash their clothes, shower or brush their tooth.
When you ask where they're staying, they'll say their car, or will ask where the nearest la cucaracha motel is for $23/night. They make bad calls and go on tilt easy because they won't have money to make it home to their miserable existence.
Some of the posts above are people who are less degenerate and more gambleholics (who could turn into degenerates)
Seek help if you can't control yourself.