Definition
To concede to be arrested for a crime and be transported to jail.
How People Actually Use It
(from Hunter S. Thompson's Fear and Loathing in Las Vegas) Creating, and being involved in, a situation that may get you in way over your head-- but deciding that turning back would be a rather uninteresting option
"When Kenny and Chris realized that they'd invited six uninhibited drunkards to go boating with them for an entire weekend, they briefly reconsidered going at all. Chris: Oh well-- buy the ticket, take the ride."
Source: Urban Dictionary