Usually used when someone says something funny online/in a text.
Person 1: LOL, earlier Joey fell off his skateboard in the middle of a kickflip, and yet he claims he would've been able to do it.
Person 2: LMAO, that dumbass can't even ollie.
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.