Green’s Dictionary of Slang

to cheat; also n., a swindle.

1960		J. Franklyn Dict. of Rhy. Sl. 55/1: Daisy beat To cheat. 19C. Orig. British, having reference to a burglary, the term journeyed to U.S.A. where it assumed the meaning of a swindle.
2002		B. Kirkpatrick Wicked Cockney Rhy. Sl.