Wiktionary
n. A particular ball sport in which the ball is thrown against the wall and floor.
Wikipedia
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Wallball is a type of school yard game similar to butts up, aces-kings-queens, Chinese handball, and American handball (American handball is sometimes actually referred to as wallball). The sport was played by a few schools in the San Francisco Bay Area and New York City, then began gaining much popularity, resulting in a popular worldwide sport. Wallball is now played globally with the international federation, Wall Ball International, promoting the game. The game requires the ball to be hit to the floor before hitting the wall, but in other respects is similar to squash. It can be played as a singles, doubles or elimination game.
Wallball is derived from many New York City street games played by young people, often involving the Spalding hi-bounce balls created in 1949.