To get screwed over by someone. To be cheated out of something.
At an auction, person A won an item by 1 cent, rorting person B out of the item without actually having to pay any extra (since 1 cent will be rounded down). Person B got rorted.
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To be badly damaged or destroyed, usually rendering something usesless.
Person: "Those train tracks are completely rorted since the earthquake tore them apart."
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