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1.
The act of playing laser tag with a group of friends after dropping acid.
Only losers get slizzered, all the cool kids these days go get lazered
by Bnerdlatin January 14, 2011
 
2.
Basically meaning EXTREMELY fucked up, from being drunk or high, or in some cases, both. Contrary to popular belief, it is NOT a mixture of hammered and blazed. It's just simply lazered.
Dude, I wanna get lazered tonight!

Jones smoked 10 bowls and drank some 8-LAKs and got so fucking lazered!
by Kabran November 16, 2007