Yes, lags is a Scrabble word!

Verb

1. Hang (back) or fall (behind) in movement, progress, development, etc.

2. Lock up or confine, in or as in a jail

3. Throw or pitch at a mark, as with coins

4. Cover with lagging to prevent heat loss

Noun

1. The act of slowing down or falling behind

2. The time between one event, process, or period and another

3. One of several thin slats of wood forming the sides of a barrel or bucket