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A naked lap is when you lose so bad at a bar game you have to strip down and run around the room like a naked idiot while everyone laughs at you.
After losing 10-0 at beer pong, I had to run a naked lap around the bar like a f***ing chump.
My buddy got skunked at darts and had to run a naked lap around the pub like a naked f***ing loser.
At the pool table, I lost so bad I had to take my clothes off and run a lap around the bar like a naked f***ing idiot.