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1.
When you are falling behind, or doing poorly in an event, and the greater power or governing force allows you to catch up to the pack. The reverse effect is had on the pack leader.

Derived from Mario Kart -- the Greater Power of Mario Kart inevitably grants the 8th place racer stars and lightnings until he catches up with the pack. On the other side of the coin, the first place racer will receive bananas and green shells until his lead diminishes.
Jeremy, the CEO of an I-Banking firm, is doing very well.

Stu, the man dancing in the street wearing a sign for Mattress Land, is not doing so well.

The Mario Kart Effect takes place, and the government makes Jeremy pay more taxes than Stu -- hopefully one day they will both return to the pack and do pretty well.
by Tha DisManteller February 01, 2011
54 1
 
2.
When You are winning at Mario Kart and everything goes to shit. It's as if Lemony Snicket wrote a new series of unfortunate events, except this time they were about you playing mario kart and going from 1st to 8th thanks to fucking Donkey Kong throwing a blue shell, then Toad shoves a green shell up your bum to spin you into a banana peel in which you slip off the edge and as soon as lakitu drops you back onto the course your asshole friend in 8th hits you with a lightning bolt and ends up winning. The frustration and despair caused by the Mario Kart Effect are unmatched, and the probability of the Mario Kart Effect benefiting you are slim to none.
1. It's not my fault that I lost! Its that god damn Mario Kart Effect. (n)

2. Thanks to the Mario Kart Effect, Nick and Zack are quite peeved. (n)
by MKE September 27, 2013
4 0