(1) "Laughing out loud" or "lots of luck." See
digispeak.
(2) (LoL) (
League of
Legends) A very popular multiplayer video game from Riot Games, Los Angeles, CA. Introduced in 2009, computer controlled "champions" engage in battle with each other in order to destroy the base of the opposing team. During peak hours, several millions of League of Legends (LoL) gamers are online worldwide.