Green’s Dictionary of Slang

zero, nothing, esp. as the number 0. The modern noughts and crosses was oughts and crosses c.1850.

1843–44		Dickens Martin Chuzzlewit (1995) 318: ‘Three score and ten’, said Chuffey, ‘ought and carry seven [...] Oh! why—why—why—didn’t he live to four times ought’s an ought, and four times two’s an eight, eighty?’.
1956		I. Fleming Diamonds Are Forever (1958) 62: I thought you were going to tell that man all about the chip shot you holed in oughty-ought.
1965		B. Jackson Get Your Ass in the Water (1974) 216: He balds my head with double-ought clippers.
1971		B. Moyers Listening to America 158: How can you aim a thirty-ought at eyes like that?