pit Meaning in the Cambridge English Dictionary
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Meaning of “pit” in the English Dictionary

"pit" in British English

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pitnoun [C]

uk   us   /pɪt/

pit noun [C] (PLACE/AREA)

C2 a ​largehole in the ​ground, or a ​slightlylowarea in any ​surface: They'd ​dug a ​shallow pit and ​left the ​bodies in it. These pits in my ​skin are from when I had ​chickenpox.
See also
a coal mine or an ​area of ​land from which a ​naturalsubstance is taken by ​digging: The coal-mining ​industrywants new pits to be ​opened. a ​gravel/​chalk pit slang a very ​untidy or ​dirtyplace: I'm ​afraid my ​room is a ​complete pit!the pit [S] in a ​theatre, the ​seats at the ​lowestlevel, or the orchestra pit the pits [plural] informal something that is of ​extremelylowquality: The ​hotel we ​stayed in was the pits! (in ​motorracing) the ​area next to the ​track where the ​cars are given ​fuel or ​repaired during a ​race
More examples

pit noun [C] (SEED)

mainly US (UK usually stone) a ​large, hard ​seed inside some ​types of ​fruit: Peaches, ​plums, and ​olives all ​contain pits.

pitverb [T]

uk   us   /pɪt/ (-tt-)
US for stone noun
(Definition of pit from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"pit" in American English

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pitnoun [C]

 us   /pɪt/

pit noun [C] (HOLE)

a ​largehole in the ​ground, or a ​hollow in any ​surface: The ​trash had been ​buried in a six-foot-deep pit. a ​fire pit A pit is also the ​area in the ​front of a ​theater where the ​musiciansperform.The pit of your stomach The pit of ​yourstomach is the ​center of ​yourbody, where you ​feel esp. ​fear and ​anxiety: I got a ​sickfeeling in the pit of my ​stomach before the ​performance.

pit noun [C] (SEED)

a ​large, hard ​seed that ​grows inside some ​types of ​fruit and ​vegetables: a ​peach/​plum/​cherry pit

pit noun [C] (REPAIR AREA)

an ​area on the ​side of a track on which ​carsrace, where the ​cars are given ​fuel or ​repaired during a ​race

pit noun [C] (UNDERGROUND METALS)

(also pit mine) a ​hole from which ​naturalsubstances, such as ​rocks and minerals , are ​dug; mine
Idioms
(Definition of pit from the Cambridge Academic Content Dictionary © Cambridge University Press)

"pit" in Business English

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pitnoun [C]

uk   us   /pɪt/
STOCK MARKET the ​area of a stockexchange used for ​trading: Many traditional pits have ​moved their ​business to ​electronictradingsystems.
Compare
NATURAL RESOURCES a ​deeparea underground from which a ​naturalresource is taken by digging: a coal/clay/gravel pit
(Definition of pit from the Cambridge Business English Dictionary © Cambridge University Press)
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