Frantic attempt made when a lot is hanging in the balance? (9,3)

I believe the answer is:

desperate bid

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'when a lot is hanging in the balance?' is the definition.
I know nothing about this answer so I can't judge whether it can be defined by this definition.

'frantic attempt' is the wordplay.
'frantic' becomes 'desperate' (I've seen this in another clue).
'attempt' becomes 'bid' (bid is a kind of attempt).
'desperate'+'bid'='DESPERATE BID'

'made' is the link.

Can you help me to learn more?

I've seen this clue in the Evening Standard.

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