To discount something means to reduce its price. When a store discounts winter coats in March, it lowers the price to encourage people to buy them before spring arrives. A discount is the amount by which the price is reduced: if a $20 book is on sale for $15, the discount is $5.

Stores discount items for many reasons. They might want to clear out old inventory to make room for new products, attract customers during slow periods, or reward loyal shoppers. Online retailers often offer discount codes that customers can enter at checkout to save money. Some businesses give discounts to students, teachers, or military families as a way of showing appreciation.

The word also means to dismiss something as unimportant or unreliable. If you discount your friend's warning about a difficult test, you're choosing not to take it seriously. A scientist might discount a theory that lacks solid evidence. When someone says “don't discount the possibility,” they're warning you not to ignore something that could actually happen.

Finally, discounted can mean undervalued or underestimated. A talented player who gets discounted by other teams might surprise everyone by leading her team to victory.