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"No Balls"

Posted by Lee on April 22, 2001

Can anyone shed any light on the phrase "No Balls"? When used in a sentence such as " you won't do that because you have not got any balls".
What is the true meaning of the phrase, what is its origin?
My understanding is that is means "a lack of courage", though some of my colleagues claim the remark can be construed as sexist. I disagree. Can anyone help?