v swindle mildly. A colleague might diddle you out of getting the best seats at the game; you’d be less likely to tell of when your grandparents were diddled out of their fortune, leaving them penniless beggars working the streets for cash. Brits do not use the term to refer to onanism.
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A poorly-researched dictionary of British Slang words and phrases, written by some guy off the internet.