It is the combination of the two words; jack off and masturbate. It sounds badass.
Hey, ima go jasterbate in your moms room real quick.
by Gabriel, M.D October 26, 2005
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when japanese people get together for a masturbating ritual this is called a jasterbate.
"dude he tried to get me in his jasterbate party!"
by jessica rodriguez December 13, 2007
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