Crossword Genius

Being slack, lose out where love's concerned (5)

Ross

I believe the answer is:

loose

I'm a little stuck... Click here to teach me more about this clue!

'being slack' is the definition.
(synonyms)

'lose out where love's concerned' is the wordplay.
I cannot quite understand how this works, but
'love's' could be 'os' (love means zero in tennis) and 'os' is found within the answer.
The remaining letters 'loe' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for loose that I've seen before include "Baggy" , "Unrestrained" , "Not secured" , "Promiscuous" , "Liberal" .)

I've seen this clue in the Evening Standard.
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