basketball played by negroes and/or played in a negro and/or negroesque way. Streetball, as well as ball with malformed offensive schemes, bad defense, hacking, dunks, one-on-one, taunting, cornrows, etc.
I wanted to go see a good college basketball game, but unfortunately those nugs were playin nuthin but blaxketball.
a joke or otherwise non-serious comment.
Derivation: Joke in spanish is chiste, which sounds like chicle, which is a small piece of gum, and in spanglish gum is goma, so its a small piece of goma, and goma is actually an eraser in spanish, so its a smalleraser, which, in spanglish, is an eraserito.
Damn, B. Don't get so defensive, it was only an eraserito