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Bawsement 

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"
Bawsement by smahar June 9, 2011
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Lauren's basement

Jeremy Shada is trapped here.
Probably Steven Yeun too.

Help them.
You most likely won't understand this unless you're Voltron trash
"Did Jeremy finally get out of Lauren's basement?"
"I think she only let him out for that interview, but he still revealed klance to be canon for the 58618283234th time"

Lag city in the basement 

When your lagging your ass off so bad in a game of chel that it’s unplayable.
Kevin “Dude this game is so fucking choppy!”
Stevie “Man it’s lag city in the basement.”
Kevin “facts dude we would have like 4 more goals if we weren’t in the basement.”

basement rat 

A person the lives in the basement and spends all their money on GGE.
J-S is a basement rat.

unfurnished basement 

"There's nothing like an unfurnished basement!" exclaimed Douglas, while wearing a kilt.

Eric Forman’s Basement

The greatest and most chill place on earth also the best place to get baked.
Hey let’s hang in Eric Forman’s basement and get high