Green’s Dictionary of Slang

1. nothing, next to nothing.

c.1386		Chaucer Man of Law’s Prologue line 123: O noble, o prudent folk, as in this cas! Youre bagges been nat filled with ambes as, But with sys cynk, that renneth for your chaunce.
1430		Lydgate Minor Poems 166: Whos chaunce go the neyther on synk nor sice, But with ambes ace encresithe his dispence.
1594		Nashe Unfortunate Traveller in Wells (1964) 230: I durst pawn the credit of a page – which is worth ambs-ace at all times.
1614		Jonson Bartholomew Fair I i: Who would have mark’d such a leap-frog chance now? A very less than ames-ace, on two dice!
1647		J. Cleveland Poem in Character of a London-Diurnall 11: Thou Twins-in-one, in whom Dame nature tries To throw lesse than Aumes-ace upon two dyes.
a.1661		‘The Second part’ Rump Poems and Songs (1662) II 107: Duckenfield’s in a pittifull Case [...] And he’s thrown Aums Ace, / Tyburn owes him a reproach.

2. bad luck, misfortune, worthlessness.

c.1527		Skelton Image of Ipocrysy (third part) n.p.: This were a hevy case, A chaunce of ambease, To se youe broughte so base, To playe without a place.
1693		Dryden Persius III 36: But then my Study was to Cog the Dice; And dext’rously to throw the lucky Sice: To shun Ames-Ace, that swept my stakes away; And watch the Box, for fear they shou’d convey False Bones, and put upon me in the Play.
1704		S. Centlivre Gamester Act I: My evil Genius flings Am’s Ace before me.
1772		Bridges Burlesque Homer (3rd edn) 288: For nestor cries, Aums ace; you’re out.