ponies noun 2phrases 1 noun[plural only]2 •(slang) Horse racing or racehorses.My husband is forever throwing away money on the ponies.Around here, back then, the mob ran both the ponies and the numbers. [two forms of gambling] •(slang) Horsepower.I wanted that car. Also, these things are crazy on the road. Front wheel suspension, tons of ponies, but best of all, it has a tape deck. — 2016 Phrases with ponies play the poniesto bet on horse racing.