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Similar to popular internet word usage such as "The cake is a lie" & "I want cake", Betacakes is an Online gaming term which refers to the Beta of said game.

Usual usage of "Betacakes" involves something half-trolling or trying to be funny. See example.
guy1: I can haz betacakes?
guy2: stfu noob

girl1: I want teh betacake
girl2: The betacake is a lie!
by Poopy Mgee January 30, 2009
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