One of the mysteries of the English language finally explained.
1The action of gradually letting or feeding out rope, cable, etc.; an instance of this. Frequently attributive, designating machinery, etc., used for this purpose.
2The action of handing over or dispensing money.
Mid 19th century. From paying + out [preposition, interjection], after to pay out.
paying out/ˌpeɪɪŋ ˈaʊt/
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