The Collaborative International Dictionary of English v.0.48:

Bait \Bait\ (b[=a]t), v. i. [F. battre de l'aile (or des ailes),
   to flap or flutter. See Batter, v. t.]
   To flap the wings; to flutter as if to fly; or to hover, as a
   hawk when she stoops to her prey. "Kites that bait and beat."
   --Shak.
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The Collaborative International Dictionary of English v.0.48:

Bait \Bait\ (b[=a]t), v. i.
   To stop to take a portion of food and drink for refreshment
   of one's self or one's beasts, on a journey.
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         Evil news rides post, while good news baits. --Milton.
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         My lord's coach conveyed me to Bury, and thence baiting
         at Newmarket.                            --Evelyn.
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The Collaborative International Dictionary of English v.0.48:

Bait \Bait\ (b[=a]t), n. [Icel. beita food, beit pasture, akin
   to AS. b[=a]t food, Sw. bete. See Bait, v. t.]
   1. Any substance, esp. food, used in catching fish, or other
      animals, by alluring them to a hook, snare, inclosure, or
      net.
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   2. Anything which allures; a lure; enticement; temptation.
      --Fairfax.
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   3. A portion of food or drink, as a refreshment taken on a
      journey; also, a stop for rest and refreshment.
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   4. A light or hasty luncheon.
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   Bait bug (Zool.), a crustacean of the genus Hippa found
      burrowing in sandy beaches. See Anomura.
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The Collaborative International Dictionary of English v.0.48:

Bait \Bait\ (b[=a]t), v. t. [imp. & p. p. Baited; p. pr. & vb.
   n. Baiting.] [OE. baiten, beit[=e]n, to feed, harass, fr.
   Icel. beita, orig., to cause to bite, fr. b[imac]ta.
   [root]87. See Bite.]
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   1. To provoke and harass; esp., to harass or torment for
      sport; as, to bait a bear with dogs; to bait a bull.
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   2. To give a portion of food and drink to, upon the road; as,
      to bait horses. --Holland.
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   3. To furnish or cover with bait, as a trap or hook.
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            A crooked pin . . . baited with a vile earthworm.
                                                  --W. Irving.
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WordNet (r) 3.0 (2006):

bait
    n 1: anything that serves as an enticement [syn: bait, come-
         on, hook, lure, sweetener]
    2: something used to lure fish or other animals into danger so
       they can be trapped or killed [syn: bait, decoy, lure]
    v 1: harass with persistent criticism or carping; "The children
         teased the new teacher"; "Don't ride me so hard over my
         failure"; "His fellow workers razzed him when he wore a
         jacket and tie" [syn: tease, razz, rag, cod,
         tantalize, tantalise, bait, taunt, twit, rally,
         ride]
    2: lure, entice, or entrap with bait
    3: attack with dogs or set dogs upon

The Devil's Dictionary (1881-1906):

BAIT, n.  A preparation that renders the hook more palatable.  The
best kind is beauty.