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1.
An expression of pleasure or satisfaction that something has gone extremely well.

In times of over the top joy, Jay Fucking Bilas may be used to denote the level of awesomeness that has been attained.

Jay Bilas is one of the few sports analysts who knows his ass from a hole in the ground when it comes to basketball. This is the exact opposite of Digger Phelps

May also be abbreviated as JFB for texting
Dude, I just scored us tickets this weekend for My Morning Jacket!
Jay Bilas bro!!

Text from bro: Louisville just won the National Championship!
Reply: JFB!!

Wife: Well honey, looks like that pregnancy test came up negative. We're off the hook.
Jay Fucking Bilas!!!
by CCBM ryoder April 17, 2013