gyp1Pronunciation: /dʒɪp/ informalTranslate gyp | into Italian Definition of gyp verb (gyps, gypping, gypped) [with object] cheat or swindle (someone):a young inventor gypped by greedy financiers noun an act of cheating someone; a swindle. Origin: late 19th century: of unknown origingyp in other Oxford dictionaries Definition of gyp in the US English dictionary