Money procured by begging: beggars so called it from its ringing when thrown to them. Also a circle formed for boxers, wrestlers, and cudgel-players, by a man styled Vinegar; who, with his hat before his eyes, goes round the circle, striking at random with his whip to prevent the populace from crowding in.
RING
Meaning of RING in English
Slang English vocab. Английский сленговый словарь. 2012