Entry 2 senses · 2 variants Webster, 1913 lowball · IPA n. v. t. 01 n. A poker game in which the lowest-ranking hand wins. 1. A poker game in which the lowest-ranking hand wins. 02 v. t. to give a deceptively low estimate of the price of (merchandise or services); -- a sales tactic to induce a person to buy. 1. to give a deceptively low estimate of the price of (merchandise or services); -- a sales tactic to induce a person to buy. Syn. underestimate.