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for the lols 

Guaranteed sex. No matter what time of day or where you are if a guy says let's have sex 'for the lols' he will immediately get lucky. The girl automatically says yes.
"Wanna have sex 'for the lols'?"
"Yes of course!"
for the lols by Analslut February 17, 2014

In it for the Lols 

Joining in with an activity/task for no other reason than to have a laugh.
James: 'Tony, will you help us build a shelter for endangered possums this weekend?'

Tony: 'OK but I'm only In it for the Lols'

or

Will: 'Fred why do you bother coming to college, you never learn anything?'

Fred: 'I'm just in it for the Lols'
In it for the Lols by lolcat400 January 12, 2011

In it for the lols 

Having a lolita complex or otherwise enjoying lolicon.
Dude 1: So you really think Strike Witches is that great of an anime?

Dude 2: Nah, not really, I'm just in it for the lols.

Do It For The Lols

When the negative effects of ones actions obviously outweigh the positive, but one follows through with it "For the Lols."

Saying, "Do It For The Lols," can also be used as an incentive to encourage a friend to do something they regularly wouldn't.
Person A: Dude, last night I was out of shaving cream, but I shaved my balls anyway.

Person B: Why in hell would you do that?

Person A: I Do It For The Lols.

In it for the lols 

Watching an anime primarily because it has loli character shenanigans in it.
Dude 1: So you really think Strike Witches is that great of an anime?

Dude 2: Nah, not really, I'm just in it for the lols.