A word used to emphasize ownage.
*Bob gets owned*
"haha, laterz Bob!"
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'Laters' or 'Laterz' was created during the 90's in London as a slang term used primarily to empathise the gravity of the situation. Similarly to OMG or WTF.
e.g.
'Laterz that was the worst comeback ever'.
Person One: So I got a charizard card.
Person Two: Laterz...
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When a person gets absolutely r3kt son!!!
"OHHHHH!!! That guy just got laterzed!!!!!"