Meaning of the word "bucket shop" in English

What does "bucket shop" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

bucket shop

US /ˈbʌk.ɪt ˌʃɑːp/
UK /ˈbʌk.ɪt ˌʃɒp/
"bucket shop" picture

Noun

1.

an establishment that sells cheap airline tickets, often at a discount

Example:
I managed to find a very cheap flight to Bangkok at a bucket shop in London.
Before the internet, travelers often visited a bucket shop to get the best deals.
2.

an illegal or unethical brokerage firm that gambles on stock prices without actually buying or selling the securities

Example:
The firm was shut down after being exposed as a fraudulent bucket shop.
In the early 20th century, many investors lost money in bucket shops.