Phat Lewt = Fat Loot
Fat as in the slang word; Cool/good
Loot as in Items picked ut(looted) from mobs in games, most often mmorpgs
I want phat lewt!
I got phat lewt!
ayon kay mriswith ika-28 ng Pebrero, 2006
To attain elite equipment in a game by various means.
"d00d! I got PHAT LEWT!"

or

"I want teh PHAT LEWT!!"
ayon kay Thran ika-13 ng Pebrero, 2003
Used primarily in online mmo's, and describes exceptional treasure. Much better than regular lewt, phat lewts are usually rare and powerful items, such as weapons or armor.
w00t! phat lewts!

Man, those purple drops in Molton Core are phat lewt!
ayon kay Ted Lach ika-08 ng Enero, 2006
Extremely good items aquired in any game for killing a boss/completing a quest. Typically used in mmorpgs
Dude I just got phat lewt for killing that monster!
ayon kay Maximillius ika-22 ng Pebrero, 2004
Really awesome loot from a PKill see also: wordSick Armor
ayon kay three_sixteen ika-13 ng Pebrero, 2003

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