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Go mad and gamble away everything, keeping hold of power (4,3,4)

Ross

I believe the answer is:

lose the plot

'go mad' is the definition.
(I've seen this before)

'gamble away everything keeping hold of power' is the wordplay.
'gamble away everything' becomes 'losethelot'.
'keeping hold of' is an insertion indicator.
'power' becomes 'p'.
'losethelot' placed around 'p' is 'LOSE THE PLOT'.

'and' is the link.

(Another definition for lose the plot that I've seen is " Go mad".)

I've seen this clue in The Telegraph.
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