Green’s Dictionary of Slang

chuck up v.1

[abbr. chuck up the sponge under sponge n.]

to surrender.

[UK]Hotten Sl. Dict.
[UK]Sl. Dict.
[Aus](con. WWI) A.G. Pretty Gloss. of Sl. [...] in the A.I.F. 1921–1924 (rev. t/s) n.p.: chuck it up. Give in, surrender.