Top Definition
When something is so much fun that it can only described by mashing up Lolz and Amazeballs into one all-powerful word. Having the bants to the extreme max.
joe: "Aw Roney I was Lolzing so hard at your Amazeballs technique of dancing up to that girl, lulling her into a false sense of security and then hitting her with the full nelson when she least expected it!"

Roney: "Lolzballs!!"
von Joeboat 12. Juli 2011

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