What does "LOL" mean in a chat room?

The acronym "LOL" is shorthand for "laughing out loud" or "laugh out loud." LOL is commonly used in chat rooms and other text-based conversations to indicate the user found something humorous. LOL is also used less commonly to mean "lots of love" when added to the end of a conversation.

LOL is often substituted with LAL, LAWL, LOLZ or LULZ, shorthand terms sharing the same meaning. LAWL is often used when communicating in real life or voice chat, a slang term that phonetically spells out LOL. Although much less common, LOL is sometimes used to mean "lots of luck," sarcastically informing someone that he has no chance.