word type: verb
People Who Don't Understand Floating
Goddamn internet kids thinkin' they can float me every goddamn play. -Old guy in Tunica
If you put 70 out there, most people think you're trappin' 'em, they don't think you're floatin'. -Ray Davis
It's a little known fact, but the term "float" was invented out of whole cloth by the highstakes poker player Matt Szymaszek, and credit is overdue.
But Seriously, Folks
The term comes from the idea that when your opponent puts out his bet (generally on the flop), you call, waiting for the opportunity to strike later. You are sort of hovering or "floating" over your opponent/your opponent's bet, getting ready to seize the opportunity to take the pot.
A common situation in which you might attempt a float is when faced with an over-aggressive player. He can't hit a hand every time, so as long as he has shown at least some ability to lay his hand down, you may want to try floating him on the flop if you think he's just making a continuation bet with air.