A prop or proposition bet is a kind of wager based on an outcome that does not relate directly to the event’s final result. Proposition bets can be on sporting events, politics, and various other topics (e.g., Who will win?, Who will make the most goals?). Odds (both money line and fraction format) are listed for all potential outcomes.

A Field entry is common in a proposition bet. This is a catch all category that is used by any competitor that is not listed in the prop of competitors for that event. An example is on a prop for a PGA event, it might list odds for the best of thirty players. For example, Tiger Woods may be listed at 1 to 1 and Phil Mickelson listed at 5 to 1.. All players without individual odds posted on PGA events are considered to have “field” odds. If a player in the field wins, the field will be declared the winner for wagering purposes.

Players in a 1- or 2-player prop must enter the game for wagers to have action. In a prop with 3 or more players, however, all wagers have action even if a player doesn’t play.
Sports Betting terms explained can be found at http://www.footballpick.biz