Crossword Genius

One of the also-rans is realist?

Ross

I believe the answer is:

no-hoper

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'one of the also-rans' is the definition.
(person or horse unlikely to win a race)

I don't understand how the rest of the clue works.

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(Other definitions for no-hoper that I've seen before include "One with little prospect of success" , "Or phone (anag.)" , "Useless person" , "One unlikely to succeed" , "One with little chance of success?" .)

I've seen this clue in The Telegraph.
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