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1.
Taken from the Jewish word 'mazzeltov', the word literally means 'luck' or 'good luck'. Use of the word crossed over to various places where Jews settled, but especially Amsterdam where it is commonly used by everyone. It is used to describe that someone is lucky or to say goodbye (lit. wishing one the best of luck), just like 'bye' and 'later'.
What a lucky bastard! He's got a lot of mazzel.

I gotta go. I'll call you later. Mazzel!
by Rubbaduck January 28, 2004
 
2.
bye. cya. laters.
i gotta go now...mzzl
by Moose March 09, 2003