C20: from US gutbucket a cheap gambling saloon where musicians could play for hand-outs
gutbucket in American English
(ˈgʌtˌbʌkɪt)
US
adjective
designating or of a raucous, unsophisticated style of playing jazz
Word origin
orig., a bucket for food or drink for chain-gang laborers; later used for a pail circulatedto collect contributions for beer or food, esp. for itinerant musicians; then, a saloonwhere such musicians played