(basketball) A shot which misses the backboard, rim and net entirely.
As soon as the shot left his hands, the crowd yelled "Airball!"
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Origin of airball
The first recorded use of the "airball" chant was on February 24, 1979, during a college basketball game between the Duke University Blue Devils and the North Carolina Tarholes after the Tarhole player Rich Yonakor took a shot which missed the rim.