Prop Bets are now one of the most common bet types.
Why are they so popular?
What is a Prop Bet?
Prop (also known as 'proposition') bets are wagers that are focused on specific events or occurrences happening in a game, and do not necessarily include the final score of a game. Props can be both team or player oriented.
For example:
- Will Aaron Rodgers throw for over 2.5 touchdown passes?
- What color will the Gatorade be that is poured on the winning coach?
- Will Vladimir Guerrero Jr. hit a home run?
- Will Anthony Davis record over 8.5 rebounds?
- Which team will score first?
- Will the coin toss land heads or tails?
The popularity of prop betting has exploded amongst sports bettors, creating a market of its own for sportsbooks. Without a doubt, the most amount of prop bets are placed on the Super Bowl. Every year this event will offer hundreds of different prop bets that can be wagered on, from the National Anthem, to the coin toss to the halftime show.
Are Prop Bets Only Tied to a Single Game?
No, there are season-long prop bets (futures) that are also considered to be props. These include both individual and team performances, and awards.
Here are some examples of season-long prop offerings:
- Will Justin Jefferson have over 8.5 touchdown passes?
- Will the New York Rangers win over 45.5 games?
- Who will win the MVP?
- Who will be the first coach fired?
Prop bets are a fun way to have action on the game, and also stay engaged all season long, but there are also some downfalls to season-long wagers.
Can I Make Money on Prop Bets?
Yes, you absolutely can. Sportsbooks have a great understanding of the props they offer; but with so many available, there are bound to be props that are not priced accurately. This is where bettors have the opportunity to really take advantage.
Unfortunately, sportsbooks are also aware of this, and as a result, they typically limit the amount of money that bettors can place on props. Additionally, it is also common practice for the vig associated with props to be greater than the industry standard -110.
Maximizing Profits
The easiest way to maximize the returns on your prop bets is to shop around from sportsbook to sportsbook. Prop bets can offer the greatest variance in price that you will see compared to any other type of wager.
Let's take a look at the 2022 NBA Skills Challenge as an example, where Fred Van Fleet was participating in the Three-Point Contest. Betway Sportsbook was offering Van Vleet to win the event at +350 while FanDuel was offering Van Vleet at +550! Although this type of variance is not common, it shows how drastic the price difference in prop bets can be. Before placing wagers, take the time to shop around; it is definitely worth the effort.
Tips for Betting on Props:
- Know coaching tendencies
- Pay attention to injuries
- Shop for the best line available
- Do some research on past events and occurrences
- Focus on rule changes (if applicable)
Circles Off
To hear more about prop betting, check out Episode 1 of the Circles Off Podcast with betstamp co-founder, Johnny, and betstamp co-owner, Rob Pizzola where they discuss strategies for betting on Super Bowl props.
