2) The young son of a wanker or chavs who is already displaying wanker like tendencies, ie; swearing at you in the street, calling you "guv" and swigging endless cans of cheap liquid bought in bulk at the local Spar
"Ah, leave him at it love, he's just having a wankle"
~"His dick was so tiny, I realised I was actually giving him a wankle"
2) "You know that twat down the road? Well, his lad dropped a crushed can of 'Kola' in my garden and then told me to "Chill the fuck out, Guv" when I told him to pick it up!"
"Jesus, what a wankle"
1) It can sometimes simply be used to mean wank (masturbate)
2) However, wankle can also imply that the wank is a smaller or faster affair than usual - this can be due to size of the genetalia (particularly if a penis is involved), or the length of time that the wank lasts (regardless of the genetalia involved)
2) I've spent all day checking out cheap porn on the Internet, I'm off for a wankle before the kettle boils