Pwn ( pronounced pewn ) is the practice of letting someone else win at a game who you could beat easily if you tried.
Pwn ( pronounced poon ) is Welsh for 'I am a stupid Internet geek that never paid attention at school', or something to that effect. Welsh words can be ambiguous like that.
Pwn ( pronounced pawn ) is a chess piece that can be used to destroy the opponent with lasers and slingshots.
Pwn ( pronounced wtf ) is a word I just made up. Hahahahaha!!!!! I am an evil geniusss