A combination of the words shit and hole which form a simple conjunctive widely understood and especially common in Southern England. It literally means "awful place".
"Cor, this is some shitole!"
"I/you/they live in a shitole."
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Used as a derogatory name for other Ebay users who bid on the same item(s) you are trying to win, thereby pushing the price up.
"All these Ebay bummers are bumming on the lampshade I want!"
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