go about your life so he sees that's how you respond to razzing. You want him to have a melt down and think he deserves the world to stop when he's disappointed about something, by all means let him stay home or take him on some preferred activity. He'll learn to expect that and those occassions will magically become more frequent. We prepare ourselves for the big challenges that inevitably come in life by learning resilience when young and the challenge is smaller.
You can help him prepare for what may come his way but don't teach him to avoid it. Maybe he's more upset because he was dishing out a little smack before the game. If that's the case, all the more reason for him to learn to face the music. He'll remember better next time.