Spoot can be used in the place for any swear word, like shit(1), fuck(2), or ass (3). Can also be written in "1337" form as $p00t or $p007.
2: "Man, you still owe me $5."
"What the spoot?! I paid you that last week."
3: "Ha ha, I heard that Tim owned you i CS last night."
"Bite my spoot."
Spoot is obviously a term for any black person on the planet, quite possibly derogatory.
Jane: Really? How was it?
Joe: It had the most spoots per capita I've ever seen in a single film.