Green’s Dictionary of Slang

wank v.

[ety. unknown, but note the many ‘beating’ synons, the alt. sp. whank and late 18C Scot./dial. whank, to beat, to thrash]
[1940s+]

1. (also whank) to masturbate.

2. to masturbate another person.

3. in fig. use, to waste time; thus wanking n.

4. in fig. use, to abuse someone else.

5. to be logged on to a computer for a long time.

In derivatives

wankerdom (n.)

[1990s+] a state of pretentiousness.

wankery (n.)

[2010s] pointless and/or pretentious activity, speech, etc.

wankily (adv.)

[1990s+] in a second-rate manner.

In compounds

wank-bag (n.)

[1990s+] a general term of abuse.

wanking chariot (n.)

[1990s] a bed.

wank mag (n.) [mag n.4 (1)]

[1960s+] a pornographic magazine.

wankshaft (n.)

see separate entry.

wank tank (n.)

[2000s] a large, ostentatious car, purchased for the enhancement of its owner’s ego and the display of his material success.

In phrases

wanked out (adj.)

[1970s+] exhausted.

wank off (v.) (also whank off) [1940s+]

1. to masturbate.

2. to masturbate another person, usu, male; also in fig. use, to behave self-indulgently.

wank on (v.)

[1980s+] to bore, to talk nonsense for a long time.