It is used the same way as the word lol but, more laughs. Gigantic Lol (laughs)
Marty: Did you hear what Happened with jackson today?!
Julien: Yeah. I heard that he got his ass kicked by a girl
Marty: I Know! I was right there!
Julien: really?
Marty: Yep
Julien: OmegaLol, ha ha
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