I was asked this years ago by a gay man in a pub, and I said I didn’t understand so then he followed up with “are you gay”.
I’d never heard that term before used in that context and it’s a thing that occasionally pops into my mind because I’m still confused.
My best guess is that it’s rhyming slang because “basset” sounds a little like “f*****”, but I’m not convinced that’s correct because it doesn’t sound much like it.
So, I dunno. Has anyone heard this before?
I guess I should also say there’s every possibility I misheard, it being a pub and all, but I’m fairly confident in what I heard.