transitive verb
1. : to put out of the game in croquet by making (a rover ball) hit the stake
2. : to toss out or allow to run out (as a line) : pay out
intransitive verb
1.
a. : to end one's play by pegging out one's ball in croquet
b. : to score the winning point in a cribbage game
2.
a. : to give out : fail
b. : die
you only pretend to care because you thought I was going to peg out — Miles Franklin