The Loser Board is used on Impractical Jokers as a score card to determine which Joker gets the lowest score in an episode; in layman's terms, it's used to record losses for each of the Jokers when they cannot complete certain goals in each of the challenges that they are given. Each Loss is represented by a red thumbs down symbol on the board appearing underneath the name of the Joker and above the photo of said respective Joker that earns the Loss. Whichever Joker gets the most losses/thumbs down recorded on the board is declared the episode's Big Loser and proceeds to be punished. The Loser Board has pictures of the 4 Jokers that have been updated several times over the course of the show's history, with the most recent update occurring in the middle of Season 9, removing Joe and matching the new neon aesthetic of the show's graphics.
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