1.when you return something to a store and they will only give you back the sale price value, not the original price you paid for the item, thereby forcing you to take a loss. This term also connotates anything that is a short-change, the result of some shifty manoevre, or simply just a weak-ass hustle that leaves you holding a loss.
2.a two-bit hustler; someone whose low grade conniving is not only sketchy but also totally uncreative.
That club is so lobate! They charge $15 at the door and you can't even smoke inside. They let you go outside to smoke but then they charge you $5 re-entry to get back in, every time!