There are several shared characteristics of a good dive bar:
1. Cash only for cheap, stiff drinks.
2. Pool tables (or alternately, shuffle board. darts must be combined with some other lure in order to count.)
3. Jukebox (classic rock required, the top 40 laughed out of the place.)
4. An air of disrepair (rips in the booth upholstery, musty smell of smoke on the air- because despite the ban, it's already been cured into the wood.)
This place has all those things in spades.
I hardly ever end up at the Time Out Lounge because I never carry cash, but the drinks are deliciously strong and don't strip your wallet of its greenery too quick. There's an ATM there too. The pitchers and half pitchers are also pretty cheap, but if you're drinking by yourself, you're required to get the half pitcher. Apparently they can't serve you a drink the size of your head in one sitting. What wacky laws.
There are several pool tables that take up the majority of the space, but if you're going during the rush, good luck securing one of them. I'm not that great at pool, but I really enjoy playing at this place (usually with a good partner I can coast off of and then gloat with after we win) because of the atmosphere. So don't be a hater.
There's a dart board off to the side of the place in a raised area with a couch and a jukebox. My friend and I got our asses handed to us on a plate by a couple of British expatriates in a game of cricket. But tall dark and handsome can beat me any day. It's all about the accent. Surprisingly, I've never used the jukebox. But I have heard wonderful tales of it from multiple people.