The word gig is used because the wrestler is doing his job (the more commonly known slang for a job gig)
-Random Guy "Man he just hit the crap out of him with that chair"
-Random Guy 2"Oh now he's giging I see him cutting his forehead"
-Random Guy "Oh yeah he's bleeding now he's giging pretty bad
2. An abbreviated form of "gigabyte."
3. A verb meaning to use a spear-like implement to stab into a small animal such as a fish or frog.
2. I have a 60-gig drive you can borrow.
3. My cousin and I went out frog gigging last night.
I just got a gig as assistant director on a feature film.