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4.
Y'all know what prefunking is. Pre bating is the same thing, but masturbating before an event or function

Think: There's Something About Mary
I better pre-bate the date I have tonight, otherwise I'll nut waaay too soon
by E-funky December 24, 2005
 
1.
Rebate paid in advance of payment for a product
The website thinkOOB.com proposes a gasoline tax offset by a $1000/person prebate, to be paid before the tax takes effect
by OOBonomics August 12, 2009
 
2.
Prebate. The act of touching ones genitals prior to masturbating.
"I prebated so much last night that when I started I came in 4 seconds flat!"
by Binglingabo January 21, 2013
 
3.
(v) to prebate - the act of celebrating an occasion before it actually occurs. Shorthand for pre-celebration.
Buddy 1: Happy birthday my dude!
Buddy 2: My birthday isn't until next week.
Buddy 1: Then why are we here?
Buddy 2: It's a prebation bitches!

Guy: Thanks for coming to my prebation. I want to prebate all over the place with everyone here! I'm prebating everywhere right now!
by doprahsinfree January 09, 2012