It can mean that, but that's not the meaning here. Here, the loser's game is one in which all of the competitors have the profile "loser". If they played against a "winner", they would certainly lose. But when no "winner" plays, the winner will be the one who displays his "loser" behaviour the least. In tennis, it will be the one who resists the temptation to play the lob or smash shot which he always misses, and lets the other player make a mistake.
"... the loser's game" is three words put together by the author of a book - it is not an idiom or a saying or a piece of general knowledge. "What a "loser's game" is seems to be given in the second paragraph of the article by way of an analogy.
"The loser's game" seems to mean an amateurish method of playing a game (or investing), particularly one in which you have picked up bad habits or poor strategies and thus losing.
You would (theoretically) win this game if you had some really good advice on how to play or invest: you would then be playing the winner's game.