Welcome to the Rx. Notorious. When you fade some one you bet the opposite side that person or handicapper recommends you to play. For example If you see a certain handicapper who you don't feel is going well you might want to "fade" him. If he says play the Eagles plus 7 in the super bowl in order to fade him you would take the Patriots -7.
There is another older definition to the word fade which I believe comes from craps originally - When a shooter rolls a come out roll and lets say it's a 6 - other players around the table will say OK your 6 and the odds behind it are faded, meaning they are betting you will roll a 7 before you roll the point which in this case is a 6.
Essentially to fade another gambler is to bet opposite him no matter what the game or sport. We could be at a baseball game and I might say $10 says this guy strikes out and you could say OK your faded. Meaning you accept my $10 bets. Usually odds are involved in this type of fading but that is another subject.
I hope you enjoy your time at the Rx. best of luck , wil.