Green’s Dictionary of Slang

1. to waste time, to idle around.

1905

‘West Point Sl.’ in Howitzer (US Milit. Academy) 292–5: Dead Beat — To avoid working. One who endeavors to avoid exertion in any form.

2. to sponge on.

1878		Waco Dly Examiner 5 Sept. 3/1: No party can dead-beat his way on me these hard times.
1960, 1975		Wentworth & Flexner DAS 141/2: deadbeat v. To loaf or sponge.

3. to cheat.

1881		W.O. Stoddard Esau Hardery 177: He’s dead beated on you [DA].
2001		S. King Dreamcatcher 603: ‘Blame it on your lyin cheatin cold deadbeatin two-timin double-dealin mean mistreatin lovin heart’ (whatever that meant).