Verb: (hal-ick-ing)
To lose all assets by gambling; to fail writing 107 four times; to fail computer literacy four times; to fail accounting four times; to fail Theology 3 times; to apply to numerous jobs using false credentials, only to quit one week later; to be dismissed by all friends and family; to be seen as a low life in society; to use school loans to gamble on sports; to cheat out of money (can be anything from friends to the catholic church).
Xavier says "Haha. My roomate dropped his writing class for the 3rd time this semester."
Jimmy Neutron replies "WOW! He is really hallocking this semester."
Doing something big that will get you in trouble, but you don't care. This term derives from how John Hancock wrote his name the biggest on The Declaration of Independence.
John: I just banged eight fat chicks!
Bob: Your wife is going to be pissed!
John: I don't care! I love Hancocking!
Tim robbed a bank, walked across the street and started jerking off in front of everyone. The police were on their way. He didn't worry a bit. He's really great at Hancocking.