originally spelled without numbers (WOOT) and was used by D&D players as an abbreviation for "WOW LOOT!"
"w00t (WOOT) i found a bunch of gold pieces after defeating the Dungeon Master in the Dwarf Domain!"
by tardfingers December 12, 2007
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Originally derived from "woot" (win over opposing team), evolved into (we owned the other team). Then "woot" was bastardized into "w00t" Now can commonly be used as a general expression of happiness.
W00t in a WoW PvP bg, lol n00bs.
by Snommis December 12, 2007
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A common misconception is that w00t stands for "wow loot" or "we owned other team". These are, in fact, bacronyms. w00t originated from the music culture in the early 90s, such as the song "whoot there it is". A more detailed etymology of w00t can be found at its wikipedia entry.

w00t, pronounced to rhyme with boot, is almost universally used as an expression of joy
Letter: We are happy to report you have been accepted to Yale College
You: w00t!
by H-Z January 29, 2006
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An expression of joy and excitement.
Also and acronym for "We Own the Other Team"
Free Ice Cream. w00t!

We'll win, w00t!
by Ansem June 6, 2005
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