In lieu of re-creating the dictionary, I'll paraphrase these guys:
Fantasy Football Dictionary - LINK
Here are the basic terms that a new fantasy football owner should be familiar with, for more, click on the link above or below. Neither list should
be considered all inclusive, there's always something new to learn.
Auction Draft - A type of fantasy draft in which owners are allotted a certain amount of fantasy cash to fill their roster spots by bidding on
NFL players. Owners take turns introducing an opening bid for a player.
Basic Scoring - Fantasy points are only earned when your starters score touchdowns, field goals, and extra points.
Bench Players - Players which you choose not to start; you normally receive no points for their performances.
Cheat Sheet - A drafting tool that lists NFL players ranked in order of predicted fantasy points; however there are no accompanying stats, so
it is possible that it isn't accurate for a league's scoring system.
Commissioner - The person who is responsible for maintaining the league, reporting the results of the fantasy games, running the draft,
collecting entrance fees (if any), and generally keeping things running smoothly. It is important for the commissioner to be unbiased (fair) and
honest.
Cut or Drop - To remove a player from your roster.
Depth Chart - An NFL team roster with players classified as 1st, 2nd, or 3rd string.
Draft - The meeting of owners and commissioner before the NFL season where owners select the players for their team. It can be done by auction
or serpentine method. Some leagues give the top spots in the draft to the teams with the poorest records from the previous season. Most leagues only
allow one fantasy team to own a particular NFL player.
Free Agent - A player who is not currently on any team's roster. If the league has a waiver system, free agents are players who have cleared
waivers.
Keeper League - A league in which a certain number of players can be retained from the previous season by each owner, so that their whole team
does not have to be redrafted. The number of players can vary. If you retain your whole team it is called a dynasty league.
Mock Draft - A fake draft that is used to practice drafting strategy and gauge where players will be drafted in actual fantasy football drafts.
Some require the drafters to post a rationale behind their picks for additional insight for viewers.
Performance Scoring - A system where you receive points for yardage (as in 1 point for every 20 passing yards) in addition to the points scored
in a basic scoring system.
Pickup - To add a player to your roster.
Sleeper - A draft term for a NFL player that an owner believes is going to have a breakout season. These are usually players who are not
rookies, but they can be. For the most part they are not well known NFL players. For example, Edgerrin James would not have been a sleeper for the
1999 season, because many people knew he was going to have a good to very good season. However, Kurt Warner would have been because very few people
expected much performance from him, yet he was the leading player in most leagues in 1999. Usually sleepers are drafted in the middle to late rounds
of a draft.
Starters or Starting Lineup - The players that you select for a particular week that you will receive points for. A typical starting lineup
would include one quarterback, two running backs, two wide receivers, one tight end, one kicker, and one team defense. Some leagues include individual
defensive players (IDPs) in lieu of a team defense.
Stud - A NFL player who has proved himself to be a top scoring player at his position. These players should be started each week regardless of
match-up and should only be benched during bye weeks and significant injuries.
Transaction - A roster change. Some leagues have a transaction fee. Also see Cut, Pickup, and Trade
Waiver - Some leagues have players recently dropped by teams to go into a "waiver" status for one or more days. When in this status, owners
cannot immediately add the player. Instead they make a waiver claim for the player. When the commissioner processes waivers, usually the team with the
least wins get first claim on players, then the team with the second least wins, etc.
source
Fantasy Football Toolbox