What does Submarine Races mean?
Taking someone to the beach instead of make out point. You near the water and watch the submarines race (which is pretty uneventful, so you do something else to pass the time).
Other definitions of Submarine Races:
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How to use the term Submarine Races:
Let me take you out Saturday and we can go watch the submarines race.
More slang terms:
Kilogram (of drugs)
Foot In Mouth