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Derived from the word 'Bawse' (awesome, in charge), meaning one's basement that is the ultimate hangout for any and all of that basement owner's friends. Bawsement characteristics include: Pool Table, Foosball Table, Ping Pong, Darts, Big Screen TV, Work out area, Musical Instruments etc...
1. "Holy sh*t dude I'm bored, let's hit up Steve's Bawsement!"

2. A- "It's 3 am. the clubs are closing, we NEED to keep Partying"

B- "No problem, let's go to my Bawsement!"

3. "Your basement is one pool table short of a bawsement"
by smahar May 15, 2011
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