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  Derived from the word wallop  , which is onomatopoeia (a sound word) for an impact of some sort, it is a Scottish slang term for a penis, usually a large penis.      It is also used to refer to unpleasant people, much like dick  , cock  , prick   and knob   would be used in conversation. 
  "Jesus Christ, did ye see the size of that walloper he had on him?"  
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 "He's a bleedin' walloper, and that's all there is to it!'
 
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