Lowball

The word Lowball has several senses:

Also known as low poker, any of a number of poker variants in which traditional hand values are reversed, so that the lowest-valued hand wins. There are several interpretations of this idea: see Low hand (poker) for the specific methods used.
A class of alcoholic beverage: an unmixed drink served on ice or water in a short glass (a back-formation from highball).
As a verb, to underestimate or understate a price, for example in bargaining for a purchase.