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The amount of money given in a settlement to a girl who sleeps with a celebrity and reveals it to the public.
Peep 1: "Did you hear about what Bret Farve did to that girl?"

Peep 2: "Psssh, its nothing, that girl just wanted a swallowship"
by Jimmy from that party January 24, 2011
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A reward someone receives for giving really good oral sex.
Her head was so good she wins a swallowship.
You see that new car that Betsy just got from her man? That's definitely a reward from her swallowship.
by assregation June 23, 2014
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Drinking in a pub with a common group of friend. used in communities where people commonly christian usually go for fellowships
Dude, are you not joining us for swallowship after work?
by gumamos August 05, 2010
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