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bucket shop

   Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia 0.01 sec.

bucket shop n. an unofficial and usually illegal betting operation in which the prices of stocks and commodities are posted and the customers bet on the rise and fall of prices without actually buying stock, commodities, or commodity futures. Bucket shops are seldom seen today since there are many opportunities to gamble legally on the stock and commodities markets.



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Claudia Schorrig, a member of the CU, alleged in her complaint that Wellstone Securities, the credit union's former brokerage firm that sold her investments, was "nothing more than a bucket shop rife with fraud.
The last bucket shop disappeared from New York days before the law took effect.
They are painted a sickly shade of green, and front an array of bucket shops selling hastily printed Obama T-shirts, cheap jewellery and imitation perfumes.
 
 
 
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