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Difference between Overplay one’s hand and Play one’s hand for all it is worth

overplay one’s hand—act in the belief that one is in a stronger position than one really is:

  • Though our prices were lower we overplayed our hand, so that our competitors were awarded the contract.

play one’s hand for all it is worth—make every possible effort or attempt:

  • Well, you have played your hand for all it was worth, and you have lost.