Top Definition
Wordlessly and stoically brandishing one's penis as a last-ditch effort to win the heart of a reluctant female. As a result, she will either relinquish poontang or never speak to you again.
1. I gave up on ever being with Martha last night and pulled the Desperado's Wager. Needless to say, she has since defriended me on Facebook.

2. I laid the wager on Barbara at Giant Eagle and then we defiled the soup isle in a passionate frenzy.
#desperado's revenge #desperado's last stand #vagabond's proposal #sex #pie
by billcosby7 September 26, 2010
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