This word originated from when players beat the oozing puss out of other players so badly and tried to type "owned" too fast because their opponent's defeat was so effortless and crushing that their pinky's would hit the "p" key instead of the "o" key. The further instantiation of this gamer term may have to do with the nature of a gamer's attitude saying "my misspelling of this word befits your nooby loss."
by sirtoad January 13, 2008