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This is used just like the word fail on its own, just not as strong. When one does not approve of something. fail-a-bit can also be another way of saying "you suck, but not that much"

background info: guy was playing a game of halo 3. He died and died and died, until he killed the best player with a no scope. fail + good kill = fail-a-bit :D
dude1"yo,yo,yo just got my first kill in like 20 games"

dude2"fail-a-bit, at least you got a kill"
by Perplexia January 13, 2010
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