To have had sex with someone. There are two connotations associated with this term; the first implies that the person with whom you had sex was cheap and/or easy, the second that the relationship was totally casual with no strings attached. In both cases it is understood that there was little or no emotional attachment or respect involved, and that the sex was hard and intense.
See also: bang
First Guy: Mate, did you see that chick I was with last night? Turned out she was pretty easy, so I took her home and banged her like a cheap gong!
Second Guy: You lucky, lucky bastard.
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Guy 1: Mate, see that chick over there? Talk about hot! I'd bang her like a cheap gong!
Guy 2: Dude, she's a hag. WTF have you been drinking?
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Male 1: Lucy was pretty drunk last night when I left the party.
Male 2: You're telling me! She was so hammered that she said she wanted sex, so I banged her like a cheap gong.
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