It is thought to mean as "wow" but is in fact a
way to say "whew" in Filipino. Mainly used in game chat because it is faster to type than "whew" or "phew". It is also a form of txtspk.
Often used as a general
derogatory term to pertain to a certain subset of gamers but can also be added to annoy others. Usually used in
combination with some Filipino words for hilarity.