What is Bustout?
1.
Someone who is a complete looser. Never has any money always has an excuse.
That guy is a total bustout
See
2.
A bookie, gambler or Wise Guy term for a person who always loses when he or she gambles.
I wanted to
whack thatbustout - on Tuesday he didn't even have the money to cover what he owed me on the Sunday game !
See