Run This Town The Blueprint 3 Jay Z

should throw they hand in 'cause they ain't got no spades

for those who have never been to prison (lol), in the game Spades if you and your partner are dealt no spades all hands are thrown in and the cards are re-dealt. it is in reference to other emcees giving up.
They should give up or quit because they dont have any Ace of Spades champagne at their table. Refers to the rules of the card game "Spades"
Jay-Z is not directly referring to the card game Spades, but instead the champagne Armand de Brignac Brut Gold which has a golden spade on the label. The other table is not spending cake and cant afford to buy it, hence they should give up or stop trying.
A reference to the card game known as "Spades" -- where the spade suit is the deck's most powerful -- this line is suggesting that MCs lacking any power moves (metaphorically, "spades") should just give up.
The Great Elucidator
in the card game spades, the more spades you have the have better your chance of winning. without spades you can't win. if the cards are dealt and you have no spades you can throw hand in (give up) - so, this lyric is saying you might as well give up.