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1.
Outright blatant betrayal by someone you trust. Or casual use when promises are unfullfilled or you feel let down. (reference from The Walking Dead)
I can't believe you Otised me!
by dr34m December 26, 2011
 
2.
Being drunk as popularized by Otis Campbell on the Andy Griffith show.
"I was at the bar way to long last night. I ended up getting Otised."

"dam, you look like hell"

"yea, i got Otised last night"
by Tank5081D October 12, 2012