1 definition by Jacque de la Ramie
The wager made in a bet whereby the loser must expose his junk to public viewing at some point in the future of the winner's choice. The winner will usually choose an embarrassing moment to invoke the Wang Out.
Remember when Alex lost that Wang Out to Ricky during a bet they made at the bar? Can you believe that Ricky actually called Wang Out while Alex was talking to a cop last night!?
by Jacque de la Ramie October 18, 2007