Green’s Dictionary of Slang

tank v.1

[SE tank, a swimming pool, thus the boxer ‘takes a dive’]

1. to abandon deliberately, to give up, poss. for illicit monetary gain, esp. in boxing.

[US]J. Scarne Complete Guide to Gambling 692: Tanked or Tank job – crooked, as in prize fight. ‘The bookies say the fight is tanked.’.
[US]D. Jenkins You Gotta Play Hurt 63: [T]hese disappointments had something to do with our boys tanking their last game to Nigeria, which had never played hockey before.
[US]D. Jenkins Money-Whipped Steer-Job 213: I could throw off, tank the deal, miss the cut, and be off the reservation by Friday night .

2. to fail.

[US] ‘Whitman College Sl.’ in AS XVIII:2 Apr. 154/2: tank. To fail.
[US]Eble Campus Sl. Mar.
[US]Da Bomb 🌐 28: Tank: To not perform well when the pressure is on.
[UK]A. Warner Sopranos 196: It was obvious she was going to tank it.
[US]J. Stahl I, Fatty 266: As the economy tanked, he saw his deals go down the toilet.
[US]J. Ellroy Hilliker Curse 13: She won a beauty contest, tanked a screen test and returned to Chicago.
[US]D. Winslow Border [ebook] They didn’t want to see his grades tanking, the letter on his ‘attitude’ going from ‘E’ to ‘U’—Excellent to Unsatisfactory.
[US]G.M. Graff Watergate 321: Felt believed he stood a good chance of taking over the bureau if Gray’s nomination tanked .
[UK]Byline Times Sept. 4/1: The Prime Minister may be tanking in the national polls, but he seems to have given up on winning the public over ages ago.

3. to cause to fail.

[US](con. 1962) J. Ellroy Enchanters 139: Fail-safes should Cleo tank the studio [...] Monroe’s antics tanked Got to Give.

In derivatives

tanksville (adj.)

in a state of poverty.

[US](con. 1962) J. Ellroy Enchanters 28: I needed the work. I’d been tanksville for months.

In compounds

tank fight (n.)

a contest in which one fighter has been bribed to lose.

[US]Wentworth & Flexner DAS.
tank job (n.) (also tank act)

a corrupt sporting contest with a pre-arranged result, thus wider use, see cites 1951, 2023.

[US]D. Runyon ‘The Big Umbrella’ in Runyon on Broadway (1954) 557: She can spot a tank job as far as anybody. [Ibid.] 558: The dough is rolling in on Spider and Jonas just with tank acts.
[US]J. Scarne Complete Guide to Gambling 692: Tanked or Tank job – crooked, as in prize fight. ‘The bookies say the fight is tanked.’.
[US]Farbar ‘Hundred Dollar Eyes’ in Algren Lonesome Monsters (1963) 48: Why didn’t you tell me it was going to be a tank job?
[US]C. Stoker Thicker ’n Thieves 228: [U]pon occasion the district attorney merely ‘punches the bag’ for public edification, having no intention of convicting the criminal before the bar of justice. [...] in the parlance of questionable legal maneuvering it is known as a ‘tank job,’ or a ‘boat ride’ .
[US](con. 1962) J. Ellroy Enchanters 224: It was a tank job [...] Soime shit guys shot infrared of me and the Gwen chick going at it.