Wiktionary
peg back
vb. (context sports English) To equalize against; to prevent the opposition from winning.
Usage examples of "peg back".
She could do nothing about the tea, but with her toe she wrenched out the plug, let the water level drop, then let the water suck the peg back into its hole.
Master De'Unnero shouted, meaning that someone, anyone, should drive the locking peg back into the crank.
Fumbling, he managed to get the peg back into place from the inside.