to win by an extraordinary margin; to get money by way of your winnings. applicable to all sports, not only swimming(which shouldn't count as a sport anyway)
"I just phelpsed your shit son. Just go home."

by Hop Bloc September 13, 2008

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To have lost a race, such as a swim meet, by an incredibly small margin by someone's final burst, such as when Michael Phelps won the 100 meter fly by .01 seconds in the 2008 Summer Olympics.
Dog, he just Phelpsed your ass!
by Mateo123456789 August 17, 2008

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(verb)
To go above and beyond.
To beat all.
Similar to the verb "trumped"
"Hey did you see the game?"

"Yah, our team straight up phelpsed them"
by swimluvr August 16, 2008

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Like pwned, yet HARDER!!! AND FAR WORSE!!!
Dude, those horde just got Phelpsed!! or Man, that alliance just Phelpsed the shit outta me!!!
by Targetlocked August 16, 2008

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Getting beat by the smallest of margins, but still beat, sucker.
Dara Torres totally got phelpsed by that german chick.
by JoD77 August 16, 2008

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To utterly dominate to the point of embarrassment of ones opponents.
Did you see how hard Michael Phelps phelpsed all of his competitors in this years olympics
by Hunter3901 August 11, 2016

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Getting badly beaten in a race, prior to which you publicly taunted the winner by shadow-boxing in front of him on TV.
Wow. Chad le Clos really got Phelpsed in the Olympic's 200-meter butterfly final.
by GetWellKatelynn August 11, 2016

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