Source : Webster's Revised Unabridged Dictionary (1913)

Tout \Tout\, v. t. (Horse Racing)
      (a) To spy out information about, as a racing stable or
          horse. [Cant, Eng.]
      (b) To give a tip on (a race horse) to a better with the
          expectation of sharing in the latter's winnings.
          [Cant, U. S.]

Tout \Tout\, n.
   1. One who gives a tip on a race horses for an expected
      compensation, esp. in hopes of a share in any winnings; --
      usually contemptuous. [Cant, U. S.]

   2. One who solicits custom, as a runner for a hotel, cab,
      gambling place. [Colloq.]

   3. A spy for a smuggler, thief, or the like. [Colloq.]

Tout \Tout\, n. [Prob. fr. F. tout all.]
   In the game of solo, a proposal to win all eight tricks.

Tout \Tout\, v. i. [imp. & p. p. {Touted}; p. pr. & vb. n.
   {Touting}.]
   1. To look narrowly; spy. [Scot. & Dial. Eng.]

   2. (Horse Racing)
      (a) To spy out the movements of race horses at their
          trials, or to get by stealth or other improper means
          the secrets of the stable, for betting purposes.
          [Cant, Eng.]
      (b) To act as a tout; to tout, or give a tip on, a race
          horse. [Cant, U. S.]

Tout \Tout\ (t[=oo]t), v. i. [See 1st {Toot}.]
   1. To act as a tout. See 2d {Tout}. [Cant. Eng.]

   2. To ply or seek for customers. [Prov. Eng.]

Tout \Tout\, n.
   One who secretly watches race horses which are in course of
   training, to get information about their capabilities, for
   use in betting. [Cant. Eng.]

Tout \Tout\, v. i. [See 3d {Toot}. ]
   To toot a horn.

Tout \Tout\, n.
   The anus. [Obs.] --Chaucer.

Source : WordNet®

tout
     n 1: someone who buys tickets to an event in order to resell them
          at a profit [syn: {ticket tout}]
     2: someone who advertises for customers in an especially brazen
        way [syn: {touter}]
     3: one who sells advice about gambling or speculation
        (especially at the racetrack) [syn: {tipster}]
     v 1: advertize in strongly positive terms; "This product was
          touted as a revolutionary invention"
     2: show off [syn: {boast}, {swash}, {shoot a line}, {brag}, {gas},
         {blow}, {bluster}, {vaunt}, {gasconade}]