UTIL is an abbreviation for "Utility." In fantasy basketball, UTIL refers to a roster spot that can be filled by a player of any position. Most fantasy leagues and daily fantasy contests require players to fill out a lineup or roster with certain positional requirements (i.e. two point guards, two power forwards, etc.) If a league includes a UTIL option, it means that any player -- regardless of his positional eligibility -- can be plugged into that spot.