What does lucked out mean?

Lucked Out?

 

I always believed that lucked out was a shortened term meaning that basically "luck has run out". 

I noticed on movies and television that "lucked out" was being used to mean the opposite; that the person got lucky or had a lot of luck.
Then i wondered if all along i had been wrong, if "lucked out" really did mean "got lucky" even though it makes more sense that "lucked out" means "luck ran out" or "out of luck". 
But then a friend used "lucked out" in the way i always had. And i mentioned how i had noticed that i had seen it used in the opposite way. I was met with disbelief, the person refused to believe it.

I think it might be a American vs Australian language thing. Where America uses "lucked out" to mean good luck and Australia use it to mean bad luck.

I am happier now knowing that i am using the term correctly. But i still find it fascinating how the meaning got turned around in the US. I am assuming the out of luck version of "lucked out" was the original, just because it makes more sense.Its so strange that the term has two meanings that are completely opposite.

I actually don't understand the logic behind "lucked out" as meaning got lucky, if someone could explain that, i would find it interesting.

I am also curious as to how American television is influencing our language, i wonder if Australians have started to use Lucked out to mean lucky. 
How do you use the term "lucked out"?