lolwat Share definition Flag "Lolwat", meaning; "Lol, what?" Is a quite popular internet slang use. It could also be used when someone says something hella gay, and you respond with, "Lolwat". Guy: "Ligma balls" You: "Lolwat" lolwat by Dominus Delirium August 28, 2018 Get the lolwat mug.