Losers (4-4)
I believe the answer is:
also-rans
'losers' is the definition.
('also-ran' can be a synonym of 'loser')
This is all the clue.
(Other definitions for also-rans that I've seen before include "They do not finish in the first three" , "Non-placed entrants" , "They're not placed among the first three" , "They don't win the race" .)