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1.
verb. A hybrid word derived from words Jacking(off money) and ballin. 1. Frivolous spending without regards to priority, in order to appear as a baller.

WORD ORIGINATED IN NAPTOWN,IN
TEST>>> If you wake up in the morning thinking about what you could have, or should have spent the money on you were JACKBALLIN.
by Kenn Starr December 12, 2007
 
2.
Gettin a few balls of smokable drug and invitin the ho's to join in. Ends up the ones with the dope tell the ones without what to do for hits. Winds up being sex for drugs till ya run out.
lower the jeans and spread em for a while bitch.
Hike the skirt and crawl to that wall Come on back smoke my sausage then smoke the glass dick. Where were ya last night? We was jack ballin some girls from 12th street over at lennys house.
by thik May 09, 2007
 
3.
In the famous words of Rob T. jack ballin is a term used when somebody has done you wrong
That jack ballin, Jukko ass nigga just stepped on my Timberlands
by The Realest Don Dadda October 16, 2007