The Collaborative International Dictionary of English v.0.48:

Racket \Rack"et\, v. i. [imp. & p. p. Racketed; p. pr. & vb.
   n. Racketing.]
   1. To make a confused noise or racket.
      [1913 Webster]

   2. To engage in noisy sport; to frolic. --Sterne.
      [1913 Webster]

   3. To carouse or engage in dissipation. [Slang]
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Racket \Rack"et\, v. t.
   To strike with, or as with, a racket.
   [1913 Webster]

         Poor man [is] racketed from one temptation to another.
                                                  --Hewyt.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Racket \Rack"et\, n. [Gael. racaid a noise, disturbance.]
   1. confused, clattering noise; din; noisy talk or sport.
      [1913 Webster]

   2. A carouse; any reckless dissipation. [Slang]
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Racket \Rack"et\, n.
   1. A scheme, dodge, trick, or the like; something taking
      place considered as exciting, trying, unusual, or the
      like; also, such occurrence considered as an ordeal; as,
      to work a racket; to stand upon the racket. [Slang]
      [Webster 1913 Suppl.]

   2. an organized illegal activity, such as illegal gambling,
      bootlegging, or extortion.
      [PJC]

The Collaborative International Dictionary of English v.0.48:

Racket \Rack"et\ (r[a^]k"[e^]t), n. [F. raquette; cf. Sp.
   raqueta, It. racchetta, which is perhaps for retichetta, and
   fr. L. rete a net (cf. Reticule); or perh. from the Arabic;
   cf. Ar. r[=a]ha the palm of the hand (used at first to strike
   the ball), and OF. rachette, rasquette, carpus, tarsus.]
   [Written also racquet.]
   1. A thin strip of wood, having the ends brought together,
      forming a somewhat elliptical hoop, across which a network
      of catgut or cord is stretched. It is furnished with a
      handle, and is used for catching or striking a ball in
      tennis and similar games.
      [1913 Webster]

            Each one [of the Indians] has a bat curved like a
            crosier, and ending in a racket.      --Bancroft.
      [1913 Webster]

   2. A variety of the game of tennis played with peculiar
      long-handled rackets; -- chiefly in the plural. --Chaucer.
      [1913 Webster]

   3. A snowshoe formed of cords stretched across a long and
      narrow frame of light wood. [Canada]
      [1913 Webster]

   4. A broad wooden shoe or patten for a man or horse, to
      enable him to step on marshy or soft ground.
      [1913 Webster]

   Racket court, a court for playing the game of rackets.
      [1913 Webster]

WordNet (r) 3.0 (2006):

racket
    n 1: a loud and disturbing noise
    2: an illegal enterprise (such as extortion or fraud or drug
       peddling or prostitution) carried on for profit [syn:
       racket, fraudulent scheme, illegitimate enterprise]
    3: the auditory experience of sound that lacks musical quality;
       sound that is a disagreeable auditory experience; "modern
       music is just noise to me" [syn: noise, dissonance,
       racket]
    4: a sports implement (usually consisting of a handle and an
       oval frame with a tightly interlaced network of strings) used
       to strike a ball (or shuttlecock) in various games [syn:
       racket, racquet]
    v 1: celebrate noisily, often indulging in drinking; engage in
         uproarious festivities; "The members of the wedding party
         made merry all night"; "Let's whoop it up--the boss is
         gone!" [syn: revel, racket, make whoopie, make
         merry, make happy, whoop it up, jollify, wassail]
    2: make loud and annoying noises
    3: hit (a ball) with a racket

Moby Thesaurus II by Grady Ward, 1.0:

287 Moby Thesaurus words for "racket":
   Babel, Bedlam let loose, Cosa Nostra, Lastex, Mafia, ado, agate,
   agitation, art, artful dodge, artifice, babel, baleen, ball,
   ballot-box stuffing, ballyhoo, baseball bat, bat, battledore,
   bauble, bedlam, black market, blast, blind, blocks, bluster,
   bobbery, bootlegging, bother, brattle, brawl, broil, brouhaha,
   bunco, business, cacophony, calling, caper, cardsharping, career,
   career building, careerism, chaos, charivari, chatter, cheat,
   cheating, checkerboard, chessboard, chewing gum, chicanery, chirm,
   clack, clacket, clamor, clangor, clap, clatter, clitter,
   clitterclatter, club, clunter, cockhorse, commotion,
   confusion of tongues, conspiracy, contrivance, coup, cozenage,
   craft, cricket bat, cue, cute trick, deceit, design, device,
   diddle, diddling, din, discord, dishonesty, disturbance, dodge,
   doll, doll carriage, donnybrook, donnybrook fair, drunken brawl,
   dustup, ebullition, elastic, elastomer, embroilment, employment,
   expedient, fakement, fanaticism, feint, ferment, fetch,
   fishy transaction, flam, flap, flimflam, fomentation, foofaraw,
   fracas, fraud, fraudulence, fraudulency, free-for-all, frenzy,
   fume, furor, furore, fury, fuss, gambit, gambling, game,
   gerrymandering, gewgaw, gimcrack, gimmick, golf club, graft,
   gray market, grift, gum, gum elastic, gyp, gyp joint, handball,
   handicraft, hassle, hell, hell broke loose, helter-skelter,
   hobbyhorse, howl, hubbub, hue and cry, hullabaloo,
   illegal commerce, illegal operations, illegitimate business,
   illicit business, imposition, imposture, intrigue, jack-in-the-box,
   jacks, jackstones, jackstraws, jangle, job, jugglery, jumping jack,
   kickshaw, knavery, knickknack, lifework, line, line of business,
   line of work, little game, livelihood, loan-sharking, loud noise,
   maneuver, marble, marionette, melee, metier, mig, mission,
   moonshining, move, mystery, narcotics traffic, noise,
   noise and shouting, number, occupation, organized crime, outcry,
   pandemonium, paper doll, passion, pell-mell, pick-up sticks,
   pinwheel, plaything, plot, ploy, pother, practice, profession,
   prostitution, protection racket, puppet, pursuit, rag doll, rage,
   rampage, rattle, rattletybang, rattling, red herring, rhubarb,
   riot, roar, rocking horse, rough-and-tumble, roughhouse, row,
   rubber, rubber ball, rubber band, ruckle, ruckus, ruction, rumble,
   rumpus, ruse, scam, scheme, scramble, shady dealings, shift,
   shindy, shivaree, sleight, spandex, specialization, specialty,
   sport, spring, springboard, static, steelie, stir, storminess,
   stratagem, strategy, stretch fabric, subterfuge, swindle, tactic,
   taw, teetotum, tempestuousness, the rackets, the syndicate,
   thunder, thunderclap, tintamarre, to-do, top, toy, toy soldier,
   trade, traffic in women, trampoline, trick, trickery, trinket,
   trouble, tumult, tumultuousness, turbulence, turmoil, uproar,
   upset, usury, vocation, walk, walk of life, whalebone, whim-wham,
   white slavery, wildness, wile, wily device, work, zeal,
   zealousness