Green’s Dictionary of Slang

sink v.

1. [early 18C–19C] (US Und.) to embezzle the takings of an illegal card-game, confidence trick etc; thus sink someone on/of v., to cheat a partner of such takings.

2. [late 18C+] (also sink back) to drink alcohol, e.g. sink the amber, to drink beer [note Antidote against Melancholy (1661) ‘In a pint there’s small heart, Sirah, bring a quart / [...] / Wee’l sink him before sunset’].

3. [late 19C–1900s] (US) to bury; also in fig. use.

4. [1900s] to betray, to inform on.

5. [1960s] (US) to hit.

6. [2010s] (UK black) to eat, to consume.

In exclamations

sink me! (also sink them! sink you!)

[mid-17C–1940s] a general oath.

SE in slang uses

In compounds

sink-hole (n.)

[mid–late 19C] the throat.

sink-pocket (n.) [the winnings sink into his pocket and are lost there forever]

[1910s] (Aus.) a winner at cards who leaves the game without offering a chance for his opponents to redeem their losses.

In phrases

sink the black (v.) [snooker imagery + ref. to the colour of stout]

[1990s+] to drink stout.

sink the sailor (v.) (also sink the soldier)

[1960s] of a man, to have sexual intercourse.