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1.
'owned' spelt backwards.

To be totally owned, uber-pwnd, completely demolished and at the complete mercy of the victors
To the person last at soggy biscuit.

"you're denwo, now eat our junk bitch ."
by denwo September 11, 2011
 
2.
owned backwards, as in getting demolished by an opponent
"Yo, you're team got denwoed last night!"
by stormchaser99 October 21, 2007