Top definition
1. The act of performing a means of masturbation and shooting off before you totally get hard. By the means of you want to hold a land speed record, or you simply cannot perform at 100%, finishing between 30% and no more than 65%.

2. The slang definition stating that something is cool.
Dude, did you see that?!?!?! That was some serious Loose Bation!!!!!!!
by Eric and Andrew May 13, 2008
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