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1.
A state of low quality. Used to describe an item, situation or place of low quality nature.
His car is falling apart, it's so discount.
by South Central August 12, 2006
 
2.
A very cheap whore! Tacky slut!
OMG! She is such a discount.
by TeddyRoo September 27, 2007
 
3.
inserting hand quickly into someone's anal region
He got discounted by Bob.
by Muffles March 27, 2007