What is a punt?

A punt is a gridiron football type of kick in which a player drops the ball and kicks it before it hits the ground. Punts are nearly always made on fourth down, when the offensive team does not want to risk giving up the ball to the other team at its current spot on the field (through a failed attempt to make a first down) and feels it is too far from the other team's goal posts to attempt a field goal.

It is also a type of shallow draught, flat bottomed, hand propelled water craft.
To punt means to kick the ball.