
rasieren
to shave
To remove body hair, especially beard hair, directly at the surface of the skin using a sharp blade or an electric device.
Er rasiert sich jeden Morgen gründlich.
He shaves thoroughly every morning.
to shave / crush / rip off
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to shave
To remove body hair, especially beard hair, directly at the surface of the skin using a sharp blade or an electric device.
Er rasiert sich jeden Morgen gründlich.
He shaves thoroughly every morning.

to crush
Colloquial for clearly and overwhelmingly defeating an opponent in a competition, game, or conflict.
Unsere Mannschaft hat den Gegner im Finale komplett rasiert.
Our team completely crushed the opponent in the final.

to rip off
Colloquial for cheating someone or putting them at a serious financial disadvantage.
Pass auf, dass du bei dem Geschäft nicht rasiert wirst.
Be careful that you don't get ripped off in that deal.
The context makes the meaning clear. If it is about personal grooming, the literal meaning is intended. In the context of a competition or game, it means 'besiegen' (to defeat). If it is about money or business, it often means 'betrügen' (to cheat).
Ich muss mich noch schnell rasieren, bevor wir gehen.
I still have to shave quickly before we go.
In its main meaning, 'rasieren' (to shave) is very often used reflexively: 'sich rasieren' (to shave oneself). If a specific body part is named, it appears in the accusative.
Er rasiert sich jeden Morgen vor dem Spiegel.
He shaves in front of the mirror every morning.
The meaning 'jemanden besiegen' (to defeat someone) is colloquial and belongs especially to youth slang. It is often used in the context of video games, sports, or competitions.
Im Online-Match hat sie ihren Gegner total rasiert.
In the online match, she totally crushed her opponent.
The meaning 'jemanden betrügen' (to cheat someone) is also colloquial. It is often used in the passive ('rasiert werden' — to get ripped off) to express that someone lost money or was taken advantage of.
Beim Autokauf wurde er komplett rasiert und hat viel zu viel bezahlt.
He got completely ripped off when buying the car and paid far too much.
to destroy / annihilate
Both verbs can express decisively and overwhelmingly defeating someone. Vernichten sounds very strong and dramatic. Rasieren has a casual, colloquial tone in this meaning and is especially suited to informal comments about games or other competitions.

Nach dem 8:0 sagte ein Fan, die Heimmannschaft habe ihren Gegner rasiert.
After the 8–0 victory, a fan said that the home team had crushed its opponents.
Laut Spielbericht vernichtete die Heimmannschaft ihren Gegner mit 8:0.
According to the match report, the home team annihilated its opponents 8–0.