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Informal.

to burst.
to go bankrupt.
to collapse from the strain of making a supreme effort:
She was determined to make straight A’s or bust.

Cards.

Draw Poker. to fail to make a flush or straight by one card.
Blackjack. to draw cards exceeding the count of 21.

Informal.

to burst.
to bankrupt; ruin financially.

to demote, especially in military rank or grade:
He was busted from sergeant to private three times.
to tame; break:
to bust a bronco.
Slang.

to place under arrest:
The gang was busted and put away on narcotics charges.
to subject to a police raid:
The bar has been busted three times for selling drinks to minors.

Informal.

to hit.
to break; fracture:
She fell and busted her arm.

a failure.
Informal. a hit; sock; punch:
He got a bust in the nose before he could put up his hands.
a sudden decline in the economic conditions of a country, marked by an extreme drop in stock-market prices, business activity, and employment; depression.
Slang.

an arrest.
a police raid.

Informal. a drinking spree; binge.
Cards.

a very weak hand.
Bridge. a hand lacking the potential to take a single trick.

Informal. bankrupt; broke.
bust up, Informal.

to break up; separate:
Sam and his wife busted up a year ago.
to damage or destroy:
Soldiers got in a fight and busted up the bar.

bust ass, Slang: Vulgar. to fight with the fists; strike or thrash another.
bust on, Slang.

to attack physically; beat up.
to criticize or reprimand harshly.
to make fun of or laugh at; mock.
to inform on.

bust one’s ass, Slang: Vulgar. to make an extreme effort; exert oneself.
Contemporary Examples

Jack and Jill: Cocktails Inspired From Film Brody Brown November 11, 2011
William Breathes on Being America’s First Marijuana Critic Melissa Leon April 2, 2013
Gay, Iranian And Stylish in Exile Nina Strochlic February 26, 2014
Spies, Lies, and Rape in the Air Force: An Undercover Agent’s Story Jacob Siegel March 3, 2014
Chris Klein Opens Up About His Battle With Alcohol, Katie Holmes, and ‘American Reunion’ Marlow Stern April 5, 2012

Historical Examples

Nothing But the Truth Frederic S. Isham
Tom Sawyer, Detective Mark Twain (Samuel Clemens)
The Boy Scouts’ Mountain Camp John Henry Goldfrap
Tom Sawyer, Detective Mark Twain (Samuel Clemens)
The Million-Dollar Suitcase Alice MacGowan

adjective
(informal) caught out doing something wrong and therefore in trouble: you are so busted
noun
the chest of a human being, esp a woman’s bosom
a sculpture of the head, shoulders, and upper chest of a person
verb busts, busting, busted, bust
to burst or break
to make or become bankrupt
(transitive) (of the police) to raid, search, or arrest: the girl was busted for drugs
(transitive) (US & Canadian) to demote, esp in military rank
(transitive) (US & Canadian) to break or tame (a horse, etc)
(transitive) (mainly US) to punch; hit
bust a gut, See gut (sense 9)
noun
a raid, search, or arrest by the police
(mainly US) a punch; hit
(US & Canadian) a failure, esp a financial one; bankruptcy
a drunken party
adjective
broken
bankrupt
go bust, to become bankrupt
adj.
n.
v.

Penniless; broke (1860s+)
Arrested or caught by an authority: I’m so busted
Intoxicated

Out of funds; destitute; broke (1840s+)
A police raid: One whiff of marijuana and we get a bust (1930s+)
An arrest; collar: Beating a Bust: Two Views (1918+)
That one bust decked me
A failure; fiasco: My try for her sweet favors was a total bust (1840s+)
A person who fails; loser, nonstarter: At baseball I was a risible bust (1920s+)
A spree; drinking bout: took his paycheck and went on a bust (1840+)

To break: I busted my nose (1806+)
o disperse or chase a rival street gang (1950s+ Street gang)
To reduce in rank; demote: He got busted from buck sergeant to buck private (late 1800s+ Army)
To tame a wild horse for riding: Two rides will usually bust a bronco so that the average cow-puncher can use him (1890s+ Cowboys)
o break open a safe, vault, etc; also, burglarize a place (1890s+ Underworld)
: I’ve been busted, bring bail
To catch someone in an illegal or immoral act (1950s+ Teenagers)
To hit someone: She busted me in the kishkes (1808+)
To fail an examination or course; flunk •The standard form burst is found in the 1850s: I miserably busted the econ final (1900+ College students)

bust a gut
bust one’s ass