What is "welching"

Usage examples of "welching".

Then, with eyes narrowed, she added, “Listen, if that welching cheapskate bookie sent you around to pull some kind of razzle-dazzle on me, you can just scram while you're able to do it under your own power.

When I'm home I make the whole damn family go—no welching on that, by Christ.

We bet one hundred dollars, plus welching privileges, which means that if you lose, you can buy the winner a very good dinner and try to renegotiate your loss.