The Collaborative International Dictionary of English v.0.48:
Sport \Sport\, v. i. [imp. & p. p. Sported; p. pr. & vb. n.
1. To play; to frolic; to wanton.
[Fish], sporting with quick glance,
Show to the sun their waved coats dropt with gold.
2. To practice the diversions of the field or the turf; to be
given to betting, as upon races.
3. To trifle. "He sports with his own life." --Tillotson.
4. (Bot. & Zool.) To assume suddenly a new and different
character from the rest of the plant or from the type of
the species; -- said of a bud, shoot, plant, or animal.
See Sport, n., 6. --Darwin.
Syn: To play; frolic; game; wanton.