early 14c., probably from Old Provençal veluet, from Vulgar Latin *villutittus, diminutive of Vulgar Latin villutus "velvet," literally "shaggy cloth," from Latin villus "shaggy hair, nap of cloth, tuft of hair," probably a dialectal variant of vellus "fleece."
Profit, esp an easy and unexpected profit; gambler's winnings; money in general: There are substantial money returns, ''velvet,'' for those who secure places (1901+)
Related Termsbeggar's velvet, blue velvet, on velvet