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1.
Any sentence, fragment or single word (real or not) that is needlessly loquacious, bombastically magniloquent, or just generally verbose for the sole purpose of scoring big points in some pretend game of Scrabble.

Also the act of enjoying (too much) the partaking of, creating or perpetuating the of such a phrase.
Larry: "please exculpate me whence I soliloquize"
Joanne: "omg scrabblegasm!"
by oizys August 09, 2006