1. pennying - Noun
2. pennying - Verb
pennying
present participle of penny
(uncountable, Oxbridge slang) The activity of pennying in general, as part of a meal or drinking game, whereby dropping a penny in a person's drink means that they must finish it (or some such variation thereof); commonly associated with crewdates at Oxford and swaps at Cambridge.
(countable, Oxbridge slang, uncommon) An act of pennying, as part of a meal or drinking game.
Source: en.wiktionary.org