racketeer vs bagman

racketeer and bagman both are nouns.

Word	Noun	Adjective	Verb	Adverb
racketeer	Yes	No	Yes	No
bagman	Yes	No	No	No

As nouns, bagman is a hyponym of racketeer; that is, bagman is a word with a more specific, narrower meaning than racketeer:

racketeer: someone who commits crimes for profit (especially one who obtains money by fraud or extortion)
bagman: a racketeer assigned to collect or distribute payoff money

racketeer (noun)	bagman (noun)
someone who commits crimes for profit (especially one who obtains money by fraud or extortion)	a racketeer assigned to collect or distribute payoff money
	a salesman who travels to call on customers

racketeer (verb)	bagman (verb)
carry on illegal business activities involving crime