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1.
A term a pedo uses when hunting under age women. Aka Jail Baiting. These people usually troll on chat-avenue hoping one crosses their path. They also drive big white vans with tinted windows around schools.
1: I went to masterbait at the mall today but the security guards caught me and kicked me out.
2: I caught my Grandpa masterbaiting and masturbating at the same time, so I reported him to Adult Protective Services.
by DEFT7S June 29, 2011
 
2.
The act in a First Person Shooter (FPS) video game where a player lures others into a kill zone with the bait of a desirable item. Also by luring players into a kill zone rigged by mines by intentionally giving their position away to the enemy. Claymores and C-4 traps are sometimes referred to as cream pies (claymore) and cupcakes (C-4).
I was playing Black ops when I started Master Baiting. I dropped my care package in the courtyard while I took cover to kill those that tried to take it. I rigged the doorway with claymores then started shooting out the window so others would try to rush and taste my cream pie. I started unloading out the window when they came to see me master bait and took a cream pie in the face. Delicious.
by RoG SPECTER December 21, 2010