From Longman Dictionary of Contemporary Englishracketrack‧et /ˈrækɪt/ ●●○ noun 1 [singular] informalCLOUD/NOISY a loud noise The old machine used to make an awful racket.2 [countable] informalSC a dishonest way of obtaining money, such as by threatening people or selling them illegal goodsdrugs/gambling/smuggling etc racket Police believe he is involved in an international smuggling racket. → protection racket at protection(5)3 
[countable] (also racquet)DS a specially shaped piece of wood or metal that you use for hitting the ball in games such as tennis, that has a circle filled with tight strings at one end → bat a tennis racket
[countable] (also racquet)DS a specially shaped piece of wood or metal that you use for hitting the ball in games such as tennis, that has a circle filled with tight strings at one end → bat a tennis racketExamples from the Corpus
racket• It is best just to find a racket that suits your game.• I wish those kids would stop making such a racket upstairs.• There was a racket, as he pushed and pulled the boards.• the advertising racket• At Wolverhampton the carriage had all but emptied, leaving only a sleeping woman cradling a badminton racket.• If Nine Inch Nails' dreadful racket doesn't scare her off, nothing will.• The Mafia runs a highly sophisticated drugs racket.• The FBI believe they have found the real criminals behind a big gambling racket.• The Ghost rackets are of 100% graphite construction and retail for £199.99.• Police have uncovered an insurance racket in Cleveland.• She would have stayed asleep, too, if not for the outrageous racket that erupted outside at that very moment.• Bring your squash racket, as there are excellent courts for hire.• Would you stop that racket, please?• It's impossible to work with that racket going on.• The racket also absorbs shock on impact by way of its Tri-Level Shock Suppression System.make ... racket• Then one day he heard the birds making a frightful racket and this huge magpie flew out of the tree.• The sheep were making a racket, more than usual.drugs/gambling/smuggling etc racket• Victims of the rare bird trade A SMUGGLING racket is killing thousands of exotic birds each year, say undercover investigators.• The brothers who beat him up are involved in the drugs racket.• We never did crack the watch smuggling racket.From Longman Business Dictionaryracketrack‧et /ˈrækɪt/ noun [countable]COMMERCE a dishonest or illegal way of obtaining moneyHe had used his position to set up a cocaine racket.racket ina racket in stolen goods → extortion racket → protection racketOrigin racket 1. (1500-1600) Probably from the sound. 2. (1500-1600) French raquette, from Italian racchetta, from Arabic rahah “front of the hand” 