acronym for ''laughing out loud'', nevertheless due the over use of the word and its assimilation to every everyday chat conversations the correct meaning would be ''though'' in a backward usage. Intended to be use at the start or at the end of a sentence.
that video game is 30% off, are you ''gonna'' buy it
first use : yes, its expencive lol
second use: yes, lol its expenive
instead of ''yes, its expensive tough''