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1.
Noun: A house party where all the alcohol and/or other substances are supplied by the host free-of-charge.

Antonym: Freeload Party
"Hey dude, you want to hit up this party tonight? It should be sick."
"Nah man, I don't have any money for booze."
"No worries, it's a gatsby party."
"Then hell yeuh!"
by hansonpaulsey November 08, 2009