Top Definition
Fuckin' loser friend who wants to hang but bails out at the last second usually using a gay excuse.
8:30 pm: Me to other friend - "Me and Captain Bailout are supposed to meet up at Sharkey's around 10 o' clock"

9:55 pm: Captain Bailout - "Dude, I can't make it. I have to (insert gay-ass excuse here). Catch up with you next time."
by Martyisruling November 12, 2007
5 Words related to Captain Bailout

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