Ramsay's hopes of a second title in the space of a month came to a watery end in the Asian Tour's Hero India Open, when the 29-year-old, who won September's Omega European Masters on the European circuit, racked up a crippling double-bogey in the shoot-out with Thailand's Thaworn Wiratchant.
Ramsay had led the field from day one and looked on course for victory until he three-putted the 72nd hole in a three-under-par 68 to drop back into a share of the lead with Wiratchant on 270.
After finding the water with his drive at the first play-off hole, Ramsay's third shot trundled into a pitch mark at the back of the green and he failed to get up and down.
Wiratchant, who found the bunker with his approach, could afford the luxury of a bogey as he emulated his India Open success of 2005.
"It was mine to win," lamented Ramsay. "I had a great third shot in the play-off which landed at the back of the green. If there was a good lie, I would have fancied knocking that in but it was lying in a bad pitch mark. Some days, things just don't go your way."
Matthew lost after forcing a tie with Suzann Pettersen in the KEB-Hana Bank Cham-pionship at Incheon, South Korea.
The Norwegian had entered the final day with a five-shot lead but shot the worst round of her week by six shots, a 74, while Matthew ate into her lead with a 67.
However, Pettersen kept her composure to sink a five-foot birdie putt on the third play-off hole to clinch her ninth career victory.
Matthew started the day seven shots off the lead and carded six birdies and one bogey to force the play-off.
In the ISPS Handa Perth International in Australia, Scott Jamieson secured his third top-five of the season to take another major step towards sealing his place in next month's Dubai World Championship. Jamieson, who is now up to 54th on the money list with the top 60 qualifying for the desert showpiece, closed with a three-under 68 for an eight-under total of 280 and shared fifth behind American Bo Van Pelt.
Craig Lee moved back into the card-retaining safety zone of the top 115 on the rankings with a share of 28th on 288 but Alastair Forsyth is facing a trip back to qualifying school after a closing 76 left him well down the field on 295. Forsyth currently languishes in 128th place on the order of merit.
On the European Challenge Tour, Andrew McArthur scraped into this week's Apulia San Domenico Grand Final after a share of 29th in the Crown Plaza Copenhagen Challenge, the penultimate event of the campaign.
That left the former Scottish Amateur champion in 44th place on the rankings with the top 45 contesting the season-ending showdown where the 20 European Tour promotion places will be decided.