The most common and most likely answer to this crossword clue is the 2 plus 5 letter word NO HOPER
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More clues leading to the result NO HOPER
Buddy explains!

The straight part
We know that "looks like a loser" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case looks like a loser = no hoper.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does NO HOPER mean?
NO HOPER noun- Someone or something that has no hope of success.