When a sports team loses on purpose. Usually done at the end of the season to secure a better draft pick for next year.
Guy1: Man, this team sucks.
Guy2: Yeah, but their tanking anyway to get the 1st overall draft pick next year.
by Daze80 February 02, 2007
The act of drinking tea whilst masturbating (wanking).
The new guy was caught tanking in the crib room last week
by BGR3 June 26, 2016
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