ratholePronunciation: /ˈrathəʊl/Definition of rathole noun 1 informal a cramped or squalid room or building: a rathole where a friend lived until her place was broken into for the seventeenth time 2North American informal used to refer to the waste of money or resources:pouring our assets down the rathole of military expenditure 3(in the oil industry) a shallow hole drilled near a well to accommodate the drill string joint when not in use. a small hole drilled at the bottom of a larger hole. verb [with object] North American informal hide (money or goods), typically as part of a deception: he had ratholed the nine thousand that nobody could findrathole in other Oxford dictionaries Definition of rathole in the US English dictionary