Wiktionary
n. A fast-paced sport, sometimes called ''rebound volleyball'', similar to volleyball.
Wikipedia
Wallyball (known in some places as rebound volleyball) is a fast-paced sport that was created by Bill Dejonghe at the Calabasas Racquetball Club ( Calabasas, California), in 1979. The game is volleyball played in a racquetball court, where it is legal to hit the ball off of the walls. The idea was an attempt to help bring more business into the club in the summer months. The club pro Joe Garcia then took Wallyball mainstream.
Wallyball may have roots in an earlier game known as Deckerball, which used similar mechanics and was played as early as 1972. In Kansas, Illinois, a high school physical education teacher and a couple of students sat down to create a game that combined several skills from other games that would be used for indoor play during bad weather situations. By combining handball, tennis, and volleyball, they arrived at the game known as Deckerball (after one of the students involved in its creation, Mark Decker).
The word "wallyball" is a portmanteau of the words " wall" and "volleyball".