Definition from Wiktionary, the free dictionary
2001, Anthony J. Biancull, Trains and Technology: The American Railroad in the Nineteenth Century, ISBN 0874138035:
lowball (plural lowballs)
- The position of the ball on an American railroad ball signal that indicated Stop.
- (poker) A form of poker in which the lowest-ranking poker hand wins the pot. Usually the ace is the lowest-ranking card, straights and flushes do not count making the best possible hand being A, 2, 3, 4, 5 regardless of suits (in contrast to deuce-to-seven lowball.)
- A form of cribbage in which the first to score 121 (or 61) is the loser.
- An unmixed alcohol drink served on ice or water in a short glass.
- (transitive) to give an intentionally low estimate of anything, not necessarily with deceptive intent.
- (transitive) To give (a customer) a deceptively low price or cost estimate that one has no intention of honoring or to prepare a cost estimate deliberately and misleadingly low.
- (transitive) To make an offer well below an item's true value, often to take advantage of the seller's desperation or desire to sell the item quickly.