Prop Bets Focus on Specific Aspects of a Game
There is much more to sports betting than the outcomes of matches. Proposition bets, otherwise known as prop bets, are popular among players since they focus on specific aspects of a sports match. It’s public interest that drives these prop bets, and many players don’t waste a lot of time thinking about prop bets per se.
Bookmakers tend to have somewhat of a laissez-faire attitude to prop bets; the money lines aren’t always as tight as they should be on proposition bets. Bookmakers invest more time and effort ensuring the accuracy of over/under totals, money lines and point spreads on traditional bets.
Proposition bets are an entirely different animal. Online bookmakers tend to ramp up their profits on prop bets, since it’s much easier to milk them for as much as possible, because they are fueled by public interest. Since there is plenty of extra juice in these bets, they are sometimes known as sucker bets. Casual bettors enjoy prop bets because they’re so much fun.
One of the most popular bets is an over/under bet on player props. If you’re watching an NFL game, and you’re betting on how many turnovers will take place in the first quarter, or how many touchdowns the running back will score, you are now in prop bet territory. Typically, a prop bet will pose the question: Will player X score more than Y points?
Can Prop Bets Be Profitable?
They most certainly can. The value of prop bets cannot be underestimated. These bets can be incredibly lucrative as part of your overall betting strategy. A prop bet is usually one of two things: an entertaining bet, or a bet where an element of skill is required. Many people are blissfully unaware that they’ve made many prop bets over the years.
Perhaps these prop bets sound familiar to you: I bet you can’t gulp down a full can of Coca-Cola without taking a breath, or I bet you can’t hold your breath for more than 1 minute underwater, or I bet you can’t climb that tree?, or I bet you that I know what you’re thinking right now. You can imagine that there are many unique prop bets in sports.
Sometimes prop bets affect the outcome of a sports match, but often they have nothing to do with the final score. A classic example of a prop bet could be which team scores first, but ultimately ends up losing the match. The beauty of prop bets is that the outcome of a sports contest doesn’t affect your chances of winning a prop bet. LeBron James may score over 30 points in an NBA game, and the LA Lakers may end up losing the basketball match.
There are prop bets with a skill-based element, and those that are simply done for fun. The skill-based prop bets require players to use their in-depth understanding of the rules, the game, and the players to make an informed bet. Players can do this by evaluating team history, pitch conditions, overhead conditions, home and away performance, and so forth. With fun prop bets, there is no skill element at all. Who wins a coin toss at the start of a football match is anyone’s guess. These prop bets are purely for entertainment value, since you are guessing the outcome.
Different Types of Prop Bets
There are long-term proposition bets which take place over the entire sports betting season – such as the winner of the Super Bowl. The juice (vigorish) typically begins at -110 on prop bets. This usually changes as the bets start coming in. Long-term proposition bets include things like Most Valuable Player (MVP), winners of a sports division, a sports conference, or the world championships. The random nature of proposition bets often catches players off guard, piquing their curiosity.
Betting experts have different opinions on prop bets, with some saying that they are more difficult than traditional bets. Specific prop bets are related to individual players and teams. These bets are so unique to an individual match, that they often evoke plenty of interest from bettors, spectators, and sports fans. If your mind is set about who will serve the most aces in a tennis match, or who will score the most birdies in the back 9, or when the first home run will be hit, or will the sports match go into overtime, then prop bets are for you.
Prop Bet Payouts
With prop bets, you are paid according to the odds at the time the bet is made. Over/under bets may have a -120 associated with them. This means that if you bet $120, you will win back $100, for $80 of profit. Many prop bets have several lines associated with them too. This is normal for these types of bets. The odds will change depending on the type of proposition bet that is being offered.
If there are odds of +700 for a golfer scoring an eagle, it means that you will be offered $700 for every $100 that you put down. The greater the payouts, the less likely it is that will occur. For this reason, many betting experts believe that prop bets are for intelligent bettors. Since bookmakers don’t have the time, or interest in checking the accuracy of odds on every proposition bet there is plenty of opportunity for players to make bank on these betting options. You can always do a little research to evaluate the viability of prop bet payouts, especially when the odds can overcome the juice.