Though common misspelling of the world lolz. Lulz also mean that you like the cock and that you have a birth defect that makes you testicle sack or more commonly known as ball sack connected directly to your butt hole , there for making you a faggot. The current Definition #1 for lulz is very incorrect and has been marcoed to the top of the list. believe what ever you want.
Example is a aim conversation.
User1: Yo wat up
User1: Have you seen my binders by any chance? I think I lost them.
User2: Lulz sux 4 u
User1: You just basically called your self a fag.
User1: And your ball sack is probably connect right to ur ass.
User2: I meant lolz, i kno how homosexual lulz is.