That is such a great song with a great life lesson!
Yeah, but by the time you're old enough to appreciate its wisdom, it's too late to take advantage of it.
Not the line "every hand's a winner, and every hand's a loser."
Reminds me of Kipling's line from his great poem If:
If you can meet with Triumph and Disaster
And treat those two impostors just the same...
Basically the same point, but expressed in a more direct, American voice.