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1.
A chiefly British and fairly archaic term meaning "jail," and pronounced the same.
They nicked Spaz for stealin' slurpees, and he had to spend a week in the gaol.
by Mirudus May 23, 2005
 
2.
Shares a similar meaning with the definition of the popular slang term 'own' or 'pwn'; as an expression of having a pure advantage over someone or something in any skill, or form.

Gaol is derived from the Old English spelling, or Australian spelling of the term 'jail'. To 'gaol' someone refers to keeping a person repressed in his or her place.

Tenses: gaoled, gaolage
Derivatives: gaolated (gaol + violated)
Person A: I gaoled that berk with my fists, just the way me pa taught me.

Person B: Total gaolage, mate!
by Rex Exitium August 07, 2003