Originally the term "cold deck" was used to describe a rigged deck used to cheat players.  It's common usage now is to describe improbable cards coming which beat hands, like flopped quad kings on a KKA flop with runner aces for another player's quad aces.  I have been the victim of this for a couple of days.
Example 1.  In the Omaha game Wednesday only one hand got really wild with a capped preflop kill pot with multiple players.  The pot had to be at least $150 preflop.  I held 10/10/xx, and the flop was 10/9/4 rainbow.  With top set, in early position, I bet out and was called by two players or more.  The turn was an ace, I bet and am called in two spots.  The river, another ace for my tens full of aces.  I am raised by one of the original preflop jammers.  I call, he turns over A/9 for the back door overfull.  Cold deck!  He irritates me by saying, "but I flopped two pair (9/4)", with which he was drawing almost dead.
Example 2.  I am playing in the morning tournament today and raise all-in on the button with 7/7 with one mid position limper.  The blinds fold, and he calls for 3/4 of his chips.  I say, "Nice call, pair?".  Nope, K diamonds/J offsuit.  Well, at least it is a coinflip situation.  The flop?  Ace/queen/10 of diamonds.  WTF!!!  Donk call and unbelievable flop for the straight, but wait, it gets better?  At this point I am drawing dead anyway, but the turn brings the Jack of diamonds for the Royal Flush!!!  Cold Deck, sir!!!!
Example 3.  I am playing in 45 person SNG with 14 remaining.  I raise all-in with AK red cards offsuit and am called by......AK black cards offsuit.  Chop city coming, except for the 2 clubs on the flop.  Yep, turn club, river club, I am gone due to .......THE COLD DECK!!!!  I am so done with poker at least for the day.
 
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