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Buying a round early in the night in order to avoid having to get a more expensive round later on. Named after the UK J D Wetherspoons chain of pubs where beer is very cheap and people often meet to start a night out.
"It was a cheap night for me, as I played a successful Wetherspoons Gambit"

"My round!"
"Damn, the Westerspoons Gambit. Nicely done."
by Ian Taylor January 09, 2008
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