To fail to catch or to let slip — to miss physically catching something or to miss an opportunity.
泥棒を取り逃がしてしまい、警察が悔しがっている。
They let the thief get away, and the police are frustrated.
大事なチャンスを取り逃がしたと後で気づいた。
I later realized I had missed an important opportunity.
釣り上げたと思ったが、手が滑って魚を取り逃がした。
I thought I had landed the fish, but my hand slipped and I let it go.