What do you call the act of drinking a whole bottle of, say, water in one go? It doesn't have to be water.
I would call this chugging (to consume a drink in large gulps without pausing, per Webster). It's commonly used to describe rapidly drinking beer but applies equally to other beverages.
This is the case, at least, in Canadian and American English.
In addition to what has been suggested, "chug", you also have other options
He downed his beer.
Alternatively, you could also say throw back a drink.
They threw back their shots.
"Throw back" is usually used to describe drinking small volume of liquid very quickly.
In Australia, the term used is "Sculling" (Or "Skolling", as the Macquarie Dictionary felt so inclined to consider as an alternative) - https://www.macquariedictionary.com.au/blog/article/258/
You could also consider knock back:
- phrasal verb
If you knock back a drink, especially an alcoholic one, you drink it quickly, and often in large amounts.
He was knocking back his 10th gin and tonic of the day. [VERB PARTICLE noun]
She poured some vodka into a glass and knocked it back in two swallows. [VERB noun PARTICLE]
knock something back
Sl. to drink down a drink of something, especially something alcoholic. (See also knock back a drink.) I don't see how he can knock that stuff back. John knocked back two beers in ten minutes.
There are also instances where "slam" or "slam back" can be used, usually to indicate that a beverage gets consumed quickly. The only contexts I've hear this used are when an unexpected deadline comes up or when one is very thirsty and consumes the drink in question as soon as it arrives.
She slammed that beer after finding out what time it was.
Additionally, at least in England, among the "youth", you could be necking it.
I believe this usage originated with alcoholic beverages but I use it and hear it used in the context of pretty much any beverage, if only ironically.
I think it came from the notion of bending your neck while you pour this liquid down the hatch.
OK, this act is normally done with a can, not a bottle but will work with plastic bottles; also the liquid is normally beer, not water, but that isn't required by the question so I think it qualifies.
A specific type of 'drinking the whole container in one go', shotgunning is the act of making a hole in the bottom of the container, bringing the hole to your mouth and then opening the lid. This causes the contents to quickly pour out the hole due to the assistance of gravity.
Not commonly associated with formal gatherings.
There are many words and expressions in the English language to describe the act of drinking a whole bottle of something in one go (e.g. He drank that whole bottle of vodka in one go.), but, I think, one of the most common among them would definitely be the phrasal verb to gulp down:
to eat or drink food or liquid quickly by swallowing it in large amounts
Here's an example sentence:
She gulped down her drink and made a hasty exit.
While closely related to chug, in my experience (western USA) slam or slamming would be the word, particularly for carbonated beverages. To chug a beverage simply means taking more than one full swallow between (nose) breaths keeping the container's lip against your lips the whole time. To slam a beverage means to chug until the beverage liquid is gone. (and if you are slamming from a can and particularly thick headed, 'proving' all the liquid is gone by crushing the [aluminum] can against your forehead)
"I forgot to put my water bottle in my backpack before the hike. By the time I got back to my car, I was so thirsty, I slammed that bottle in one go, hardly pausing to breathe, even though the water was totally hot because the bottle had been sitting on the dash in the sun since I hit the trail."
Drinking 'Ad Fundum'. Mainly used for alcohol, but literally means 'to the bottom'. Used for in 1 go.
As a bonus, this works in most western languages :)
"Scoff" works in this meaning for drinks as well as food; see meaning 3 of the Merriam-Webster entry:
Apparently (see e.g. Collins https://www.collinsdictionary.com/dictionary/english/scoff, Cambridge https://dictionary.cambridge.org/dictionary/english/scoff etc.) the word in this meaning has universal or near universal usage food even though I seem to recall its being particularly prominent where I live (australia) and it seems to imply "consume like a hungry animal would" or "devour", rather like "fressen" in German, and a similar manner of consumption for drinking. It is even listed in the Collins as having a separate etymology from the word's commoner meaning: "scoff, scoff at" = "to scorn", namely probable Old Frisian "skof" for mockery for the "scorn" meaning and Afrikaans / Dutch "schoft" quarter of the day, one of the four daily meals for the devouring meaning.
I'm still not sure whether scoff's usage for drinking as opposed to food is more universal than only Australian usage, because I've always had the impression (perhaps mistaken, given the above etymologies) that the word arises from a confusion of "quaff" and "skoll". But it is certainly very common for australians to say "scoff" or "scoff down" a drink. Probably a mixture of confusion of "quaff", "skoll" and "scoff" (devour food). Even if its usage for drinks is confined to australian usage, I think usage elsewhere would be understood very well.