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1.
any thing advantageous one keeps hidden until the right moment to use it. This is a play on playing cards, in which the Ace is the highest ranking card.
"Viagra was my uncle's Ace in the Hole with this girl last night. Ugh... -_-"
de Tarrell Bets 23 janvier 2004
 
2.
A family-friendly synonym for sexual intercourse. Appropriate for school, work, and church.
Steve: "That was a great sermon... how was last night?"
Me: "I had my ace in the hole. It was amazing... but certainly not as amazing as Christ's love for us."

Principal: "Good morning Miss Daisy, how was your date with Mr. Rodman yesterday?"
Miss Daisy: "Oh, he's such a handsome gentlemen. We finished with his ace in the hole."
de Yahoo! Answers Phil J 6 novembre 2009
 
3.
ace in the hole can be a term used to describe transvestites
Tom: Did you bang that chic from last night?
Bob:Nah she was a he, had an ace in the hole.

"That chic i went home last night was really a dude."
"Ah, an ace in the hole."
de NEM@SER 23 avril 2009
 
4.
Dawg, main man, buddy, the guy that always agrees with you.
Yo, this is my ace in the hole.
de Zach G. 27 octobre 2003