1. Loud noise that gets on everyone’s tits.
2. A criminal operation often related to organized crime. The “number’s racket” was an illegal lottery where the player would pick a three digit number, pay a bookie cash on a daily or weekly basis and if the last three digits of the Dow Jones Index was the number he had picked he would get a payout, usually $500 or $600 for every dollar wagered. The math worked out pretty good for the bookies as the chance of winning was 1 in 999 while they payout was only $500 or $600.
3. Slang term for any smooth, money making operation or business.
1. “Stop making such a racket, you’ll wake the dead!”.
2. “I won $550 on the number’s last night!”.
3. “That stock-jobbing is a great racket!”.