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Ascot \a-scot, as-cot\ as a boy's name is of Old English origin, and the meaning of Ascot is "eastern cottage". Place name. More specifically the name of England's famous racetrack near Windsor Castle, and also a style of tying a cravat. Ascot has 3 variant forms: Ascott, Escot and Escott. Baby names that sound like Ascot are Wescot and Wescott.