This term generally applies to MMORPG's, and is used to describe someone who will join a party for the sole purpose of taking every single item of any value whatsoever, regardless of who killed the target and is the rightful owner of the items. A loot ninja will most often seem like a normal player, except when time comes to play the number roll game for a rare, they will roll, and then exploit a bug or a glitch in which they take the loot, regardless of what they rolled. Often hated by other players, and even more so by others of their kind. Sometimes referred to as a Loot Whore, or a n00b. Most people consider loot ninja'ing and those who do it to be committing a high crime, and often bring in a game master about them.
Party member 1: Did OMGHAXX take the rare again?
Party member 2: Yeah, he's such a f***ing loot ninja dude
System: OMGHAXX has obtained -Insert rare item-
System: OMGHAXX has left the party
by ShockCannon July 3, 2005
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To take shit from yo grandma's house.

Simple as that yo
"Yo bro , i just grandma looted these fine chocolate bars from my grandmas house!"

"shit dawg i have no $$, i'll need to grandma loot"

"i grandma looted this old ass expired orange juice from da frigge and shit boii it be bad shit"
by J-Light June 19, 2009
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when you go out to the bar and don't have to pay for any drinks
I went out last night and I was totally loot bagging,
by Dani86 December 6, 2009
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The act of looting an item off a monster that you or your party has recently killed before anyone else has a chance.
Scree is king of the ninja loot'ers.
by Oberon March 31, 2003
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A legendary World of Warcraft raiding guild made of Americans who used to be on an Australian server called Khaz'Goroth. Their black sheep tactics have made them controversial, yet at the same time very entertaining. What sets them aside from other guilds was when they stole the Ahn Qiraj raid ID from the 2nd-most successful guild on the server named <Time>, filling up the 40 slot limit in the dungeon before <Time> could. LT then proceeded to grief the main raid with alerted monsters, stomping out their progress for the week.
Loot Train consists of demons, demon princes, demigods, and extraordinary men, the majority of which enjoy the ganja.
by Plisk July 26, 2006
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A word used in various games to describe rare, valuable, or large amounts of loot/money/items gained in a short period of time. Examples may include rare drops from enemies, or gaining large sums of money relatively easily.

Two examples would be Legendary Item drops in Fallout 4, rare items in 7 Days to Die, or massive amounts of credits (especially earned as pilots) in Heroes & Generals.
Fallout: "Damn, that legendary laser rifle was some fat loot."
7DTD: "This horde dropped enough parts to make a whole magnum, that's some fat loot."
H&G: "Playing as a pilot is guaranteed to reel in some fat loot, 10k+ credits a round."
by Georgiye July 15, 2017
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The most hated Fortnite player. This person cannot resist the sweet walls of a good pile of loot. They will destroy their own ramps to stop their teammates from getting all that good loot. It has once been said, "It was greed that killed the gob." The undesirable urge to grab the loot will ultimately lead to his personal and collective downfall.
Ethan: Bro im down get me up.
Trippe: Nah yo there's a gold scar.
Ethan: Trippe your such a loot gob
by lookatalltahtloot February 21, 2018
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