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1.
Huge, monstrous sea-dwelling Christmas crackers. Tend to explode at random points, showering you with cheap paper hats, cheesy jokes and neon coloured plastic novelty toys. Extremely dangerous and should be avoided at all costs.
The Krakers smashed the boat to smithereens, destroying all life within.
by Freakything April 30, 2007
 
2.
Gambling slang for a parlay; a linked straight line bet on two or more teams that has a high payout due to poor odds.
Passion fired in a two dollar kraker on the Tampa Bay and the over last night. Double loser.
by pantsman79 September 27, 2007