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1.
Mastered is a term used in the music and audio industries. It is usually a song that is in or at its final stage before mass production or sells.

A mastered song is a single stereo track that has been finalized by a mastering engineer who uses his skills, technique and gear to bring the life out of a mix. Fatten it up, making it full and thick at the same time bringing out certain parts in the mix. example - vocals.
hey be sure the mix has at least 3dB of headroom before we send it out to get mastered. He will bitch if has no headroom to work with
by impsick August 30, 2007
 
2.
1-To dominate someone in a game everytime you play them, or to have absolute control over your opponents strategies.
'Man I freakin mastered Johns terran defense.'

'Dood Im not playing 3rd strike with karen anymore, I mastered her like 20 games in a row.'
by Caston October 07, 2004
 
3.
When your touching yourself casusually. You haven't started doing the actual 'bating', but you are constantly giving yourself a natural high
Wow, I just had the best mastered session ever.
by semirag January 12, 2010