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Sports betting as a beginner can be intimidating, as understanding all the terms can be tough. However, we are here to help. Prop bets are some of the most popular wagers to make in sports betting. But what exactly is a prop bet?
A prop bet is a wager on the occurrence or non-occurrence of a specific event. Prop bets often have nothing to do with the outcome of the event, like the moneyline.
Prop bets have become increasingly popular in recent years. This has coincided with the shift to online sportsbooks from traditional brick-and-mortar betting shops. Online betting sites offer more expansive markets and ways to bet. One of the most exciting has been Same-Game Parlays. This is where you can combine multiple markets from the same event to create one big bet. Props play a fundamental part in SGPs.
What is a Prop Bet?
A prop bet is a bet on a specific event that does not directly contribute to the outcome of the game. Prop markets usually feature moments during a match, but novelty props during big events are a fan favourite. For example, you can bet on the length of the national anthem in the Super Bowl. Betting on football often finds the most novelty bets.
Although most popular with ball sports, you can wager on prop bets across a multitude of events. For example, When betting on MMA, you can wager a prop bet on the total significant strikes for either fighter.
What makes prop bets so exciting to bet on is the multiplicity of the markets. There are hundreds of different prop bets across tons of sports. However, with the market so vast, it can be daunting to bet on. Let’s delve further into prop betting to help you better understand the ins and outs.
Terminology to Help You With Prop Bets
- Push: A push in sports betting is when a bet lands on the exact line set by the sportsbook. For example, if a player’s prop on rushing yards is set at 50 yards, and the player rushes for exactly 50 yards it is a push. You receive a refund of your stake in the event of a push. Sportsbooks use decimal points in prop bets to prevent a push bet.
- Odds-on: Also referred to as ‘short odds’ and ‘minus money’, an odds-on bet means the first number in fractional odds is smaller than the second. In American odds, it is when the odds are in the minuses, e.g. -150. Odds-on bets indicate that the sportsbook believes the likelihood of the prop occurring is more so than not occurring.
- Even Money: Even money odds are the easiest to understand in sports betting. Even money in fractional odds is 1/1 or stylized as ‘EVS/Evens’. In American odds, the betting site will display +100. A wager on even money markets returns the same amount as your stake. For example, a $100 bet on 1/1 odds returns $100, $200 returns $200, and so on.
- Over/Under: Most prop bet lines are over/under. This means you are wagering the prop to be more than (over) or less than (under) the line set by the sportsbook. For example, Kyrie Irving’s assist line in the Dallas Mavericks vs Boston Celtics game is set at 4.5. If you wager on him to hit the over on this, he would need to record five or more for your bet to win. You would need him to record four or fewer assists if you back the under.
- Yes/No and Race To lines: Some prop markets will be yes/no options or race to… rather than over/under. For example, a player prop on a double-double in a basketball game will be a yes or no market. Betting on the first team to score a certain number of points or goals in a game would be a race to market.
Which Sports are the Most Popular for Prop Betting?
You can make prop bets on virtually any sport. However, some are more popular. The more popular sports will have wider markets and more selection. American football and basketball are the most popular sports to wager on prop bets. As such, the selection of markets is bigger than other sports. Here are some of the most popular.
NFL
- Passing Yards
- Receiving Yards
- Rushing Yards
- Touchdown Scorers
- Receptions
- Team Totals
- Quarters/Halves bets
NBA
- Points Scored (Player)
- Assists
- Rebounds
- Threes Made
- Double/Triple-Double
- First to X points
- Team Totals
Prop Bet Odds
Most prop bet odds are close in price on either side if not identical. This is because the sportsbook sets the line according to an in-depth analysis. The factors that go into setting these lines are vast. Head-to-head history, player form, injuries, and offence vs defence are all considered. They also account for the advantages of playing at home and even weather conditions. For example, passing and receiving yard player prop lines for NFL games will be lower in wet and windy conditions. This is because teams are more likely to focus on rushing.
Many sportsbooks allow you to move lines up or down on over/under markets. For example, you could increase the passing yards line for a quarterback. Be wary that the odds will change when you move these lines. Moving them up will increase your payout, but the likelihood of a win decreases and vice versa when moving them down.
When betting with our online sportsbook, we will calculate the returns on your prop bet when you add the market to the bet slip and choose your stake. However, it is not too difficult to work this out yourself.
Using fractional odds, we will use player props on the Dallas Mavericks vs Boston Celtics game as an example. The betting platform set Luka Doncic’s points line at 31.5. If the first number is lower than the second in fractional odds, your return will be lower than your stake. This is because the sportsbook believes the likelihood of that specific event occurring is higher. The over is worth 8/11 and the under at 1/1. A $100 wager on 8/11 odds returns $72.99 plus your stake. Even bets are easy to calculate as you win back whatever you wager.
The American odd system is easy to spot thanks to the + and – numbers. A line priced with a + number indicates how much you would win from a $100 wager. Lines priced with a – number tell you how much you would need to wager for a $100 return. For example, a $100 bet on +250 odds would return $250.
Prop Bet Examples
There are a lot of different prop betting markets. Novelty props have allowed for some unusual yet fun markets in recent years. One of the most popular novelty bets is guessing the colour of the Gatorade bath in the Super Bowl. Here, we will look at the different prop bets and examples of each.
Player Props
Player prop bets are the most popular props to make in sports. They are a fan-favourite when betting on football or basketball. A player prop is a bet on a player to complete or not complete an in-game statistic or event. Markets are typically totals with over/under options. In some cases, they can be yes or no markets.
Example: The Kansas City Chiefs are facing the Baltimore Ravens in the NFL. An online sportsbook offers a player prop on Patrick Mahomes’ passing yards. In this event, the over/under is 289.5 yards. If he passes for 290 yards or more, the over wins for this prop. Anything less than 290 yards and the under wins.
Game Props
Game props are bets on events in the game that are not based on specific player stats. There are several game props you can wager on, and sometimes the markets can inform each other. For example, you can bet on the first team to score and the first to reach 10 points in basketball. The first team to score has the advantage in the race to 10 points. Game props also often combine a couple of markets into one bet.
Example: The Dallas Mavericks are playing the Boston Celtics. You can wager on the Dallas Mavericks to win the race to 10 points. You can also bet on the Mavericks to win by a margin of 3-6 points.
Team Props
Team props are bets placed on events for one team in a game. There are several different team props across different sports. For example, when betting on soccer, you can place a bet on the number of corners either side will be awarded. In basketball betting, you can bet on the total for either side.
Example: Inter Miami to be awarded over/under 6.5 corners in the game. The Boston Celtics to score over/under 110.5 points in the game.
Betting on Props With Same-Game Parlays
Online betting has brought with it new ways to wager on sports. One of the most exciting has been Same-Game Parlays. A parlay is a multi-leg bet where all selections must win for the bet to pay. An SGP bet works the same, but all legs are within the same game. SGPs are one of the most popular ways to wager on prop bets.
The best thing about SGPs is that you can combine multiple props in one bet. You can have a mix of game, team, and player props in one bet. You can also combine them with other markets like the moneyline or the total. Below is an example of an SGP on the Dallas Mavericks vs Boston Celtics.
- Luka Doncic over 31.5 points
- Al Horford under 6.5 rebounds
- Race to 10 points – Dallas Mavericks
- Boston Celtics under 110.5 points
- Dallas Mavericks moneyline
It is important to remember when putting together your SGP that the more legs, the higher the odds. This means less likelihood of winning your bet, as all legs must win. You should also be aware of the props you are putting together. Some will offset each other when paired and make less sense to include in an SGP. For example, if you are betting over on a high-points player prop but under on a points total team prop. While this will increase the payout, you are shortening the parameters by which your bet can win. Placing your SGP with a game narrative in mind is the best way to be successful.
Tips for Betting on Props
Prop bets are some of the most researched markets in sports betting. This applies to the sportsbooks setting the lines and odds and the customers who wager. Here are some tips for how to bet on props confidently.
- Research Team News: This is extremely important when betting on player props. Before placing your bets, look at team news. Injuries are the most important to check. If you wager on a player prop and the player doesn’t enter the field/court due to injury, some sportsbooks will settle your bet as a loss. It can also be smart to avoid placing prop bets on players who are starting but recently returned from injury. If the player you back comes off injured and does not return before your prop bet has won, your bet would lose.
- Analyze Matchups: Analyzing matchups is an excellent strategy for all kinds of prop bets. By looking at each team individually, you can confidently wager on your picks. For example, if an NFL team has one of the best pass defences in the league, try to stay away from player props on passing and receiving for the opponents. If an NBA team starts slowly, keep away from betting on them in the ‘race to…’ game props.
- Budget Your Bets: Betting responsibly is the most important part of any bet. You should never wager more than you can afford to lose. By bankrolling your bets, you are more likely to see steady profits over time. Set yourself a budget and stick to it. Never chase your losses.
- Bring In The Experts: Prop bets are among the most popular wagers for people who enjoy online sports betting. As a result, thousands of experts dedicate their time to finding the best markets. The best part is they do the research for you when you don’t have the time. You can find sports betting predictions online in articles, podcasts, YouTube videos, and more.
