An alternative to bootlegging for people who are too cheap to legitimately obtain entertainment. Rather than illegally download entertainment or buy a pirated copies from Chinatown, the typical lootbegger seeks out legitimate merchandise owned by their friends, and begs them to let him / her borrow it.
John: Hey, can I borrow Madden?
Hank: I'm not done playing it.
John: Pretty please? You've been at it for like a month!
Hank: Jeez man, have you ever actually bought something, or are you planning on lootbegging for the rest of your life?