When you're very drunk and so hard up for a piece of ass and/or piece of cock that you're about a midget's throw away from making out with anyone or anything.
If you act upon being hornywasted you'll most likely end up regretting it tomorrow.
It may or may not involve severely lowering your standards and/or drunk dialing an ex.
"I sooooo hornywasted. I sooooo want to drunk dial my ex. What to do?"
A typical feeling when Really drunk and excessively horny at the same time. In fact, if one is mad waste mad horn it usually causes the engagement in relations with slampigs that they usually wouldn't think about touching.
"Yo dan i heard u double teamed that slampig last weekend with gage."
"Yeah but i was mad waste mad horn so its no biggie."