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1.
A dangerous game of chance in which a student chooses not to do any of his homework, counting on the next day of school being a snow day.

The term comes from Russian Roulette.
"Dude you got the math homework?"

"Dude...it's snowing out...I'm playin snow day roulette, baby."
by Andy Hall February 28, 2005
 
2.
The risky work-avoiding game one plays on the night before a possible snow day at work, school, etc.
Billy: Hey Rick, finished that lab report yet?

Rick: Nah, I'm gonna play some snowday roulette tonight. You know we're supposed to get five inches tomorrow?
by JetTripleSeven January 31, 2011
 
3.
When a college student or young adult gets drunk in hopes that their school will be canceled based on a snow day.
The forecast calls for 4 inches of snow, let's play snow day roulette in hopes that class is canceled tomorrow and get drunk!
by TissyC March 31, 2011