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1.
To have recently taken advantage of good fortune to place oneself in a good position.
Man A: Got 24 cans for 20 quid for the gaff party this weekend.

Man B: Nice wan, you are elected!
by Mungo Derrick February 04, 2011
 
2.
a single term used to describe something which is beyond good. Often used when no other word will suffice.
Me:"I just dipped doritos in curry sauce, it's so good."
Paulie: "Elected."
by MarkoGraco April 25, 2011