1. Derived from the original catch phrase, "You got this in the bag," but used in a sarcastic manner to imply the opposite where you in fact DONT have this is the bag.
2. Often used to describe a state of being in which one is under the influence of drugs/alcohol to a point of complete oblivion.
Dan, you just took 80 bong hits. You GOT it.
Chris only slept for 3 hours this entire week, he's got it.
Elliot Spitzer was caught soliciting prostitution. He, as well as his career's got it.
I have to take a final tomorrow that's 4 hours long, short answer and essay questions and I didn't study anything. I GOT this test.
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