Get the wankstamug. Everyone thinks that wanksta is a white-gangster but it is in fact another way of calling someone a wanker. It can also be a way of calling someone a white gangsta wanker.
I saw Baz wearing all his bling yesterday and his most thuggin' gear while he was threatening to duff people up...he really is a total wanksta.
by Lis November 30, 2004
Get the wankstamug. 
by stepho July 07, 2003
Get the wankstamug. A person who tries to be a gangster but has not done anything a gangster has done. A wanksta is not a white guy trying to be black it can also be a person that is asian,mexican etc.
by 707rep July 22, 2008
Get the wankstamug. from the mouf of 50 Cent: "A wanksta is a gangsta that doesn't progress. Someone that just goes through the cycle constantly. Most gangstas' actions are for finances — they're motivated by money, the root of all evil — but how are you gangsta and you're not getting any money? You're going back and forth to jail. And you're telling stories like, yeah I'm gonna get this BMW. And then we see you at the car lot, and you're there looking at the BMW, and you still don't get it."
by Sorany (50'z wifey) May 08, 2003
Get the wankstamug. by The Real Gansta May 04, 2003
Get the wankstamug.