Is “Payback” a Scrabble word?

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Yes
PAYBACK
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Unavailable

Meaning of Payback

/ˈpeɪbæk/

noun
  1. 1.An act of revenge.

    They beat us last year, so this year's win was payback.

  2. 2.A benefit, reward, a form of recompense.

  3. 3.A return on investment

Synonyms: just deserts, poetic justice