Down here it's just winners and losers
And don't get caught on the wrong side of that line
There is a lot packed into this line!
First, the main character speaks with a sense of exhaustion. He seems to yearn for a righteous path, or at least understand it’s existence by virtue of acknowledging the lack thereof, but feels that the broken down society he exists in is indifferent to that struggle.
We also get the sense that he feels everybody else is already cheating, and therefore must cheat to keep afloat. It is a succinct and achingly real look into inequality and what drives a moral person to do immoral things.
Finally, it references the theme of Atlantic City and gambling. Gambling, also an immoral activity, usually only has a winner and a loser.
To help improve the meaning of these lyrics, visit "Atlantic City" by Bruce Springsteen Lyrics and leave a comment on the lyrics box