Etymology
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tout (v.)

1700, thieves' cant, "to act as a lookout, spy on," from Middle English tuten "to peep, peer," probably from a variant of Old English totian "to stick out, peep, peer," from Proto-Germanic *tut- "project" (source also of Dutch tuit "sprout, snout," Middle Dutch tute "nipple, pap," Middle Low German tute "horn, funnel," Old Norse tota "teat, toe of a shoe"). The sense developed to "look out for jobs, votes, customers, etc., to try to get them" (1731), then "praise highly in an attempt to sell" (1920). Related: Touted; touting.

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Definitions of tout
1
tout (n.)
someone who buys tickets to an event in order to resell them at a profit;
Synonyms: ticket tout
tout (n.)
someone who advertises for customers in an especially brazen way;
Synonyms: touter
tout (n.)
one who sells advice about gambling or speculation (especially at the racetrack);
Synonyms: tipster
2
tout (v.)
advertize in strongly positive terms;
This product was touted as a revolutionary invention
tout (v.)
show off;
Synonyms: boast / swash / shoot a line / brag / gas / blow / bluster / vaunt / gasconade
From wordnet.princeton.edu