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1.
A term used in gaming. Technically it describes a button you can press that will allow you to quickly beat your fellow players

It's generally used in two ways

1) When describing a very over-powered ablility within a game that allows certain players an unfair advantage. This is often down to user perception though. In many cases, the ability is not over-powered as long as you know how to counter it.

2) Used insultingly when a player complains that their character is underpowered. Typically they will make suggestions about how their character could be improved. If these requests are excessive, their fellow gamers will accuse them of wanting an I win button.
Sue: OMG, no way a rogue can beat a mage. Rogues should be able to use their vanish ability as often as they want without the timer.
Sam: So you want one of your most powerful abilities to be available non-stop instead of needing 5 minutes to cool-down. Basically you want an I win button?
by thepreacher April 20, 2006
70 10
 
2.
More over the previous definitions, the "I Win Button" in the world of EvE Online is a pre-nerf expression referring to the Titans "Doomsday" Device, as it is a area of effect weapon, causing massive damage to everything around it.

As such it was called the "I Win Button" since (if anyone survived) the remnants were easily mopped up, nomatter how many they initially were.
Yeah, we were totally bringing that Titan down with our massblob, until the pilot hit the I win button and we were annihalated.

LoL I make win by I Win Button kthx!
by Faekurias June 22, 2007
13 16