(1.) Can be Used to define someone who masturbate's too much.
(2.) It can be used as an insult to a guy who always is trying to peek under girls skirts to save pussy to the Wankbank.
1. You see noah in the back of the classroom beating off? I think hes a wankoholic!
2. Ugh do you see that one bald kid always tripping behind girls? Hes a wankoholic for sure.