Almost half of all Americans gambled in some way in 2022.
That could mean they visited a casino, joined a poker table online, or placed a prop bet on the Oscar winners. Proposition bets, commonly known as prop bets, are a type of wager that involves placing a bet on a specific event or outcome not directly related to the final result of a game or match.
These bets are popular with those inside and outside the gambling community. Why? Because they’re fun, exciting, and add an extra level of engagement.
Read on to learn about how to make the best prop bets possible.
What Are Prop Bets?
Unlike traditional bets, which involve betting on the outcome of a game or match, people place proposition bets on a wide range of events.
This can include:
- Individual player performances
- Team statistics
- Non-sporting events like political elections and entertainment awards shows
As you can see, prop bets aren’t limited to the sports industry.
Example One: Basketball Betting
One example of a prop bet in sports betting is the over/under bet on the number of points a specific player will score during a basketball game.
In this bet, the sportsbook sets a specific number for the player’s total points. Bettors can wager on whether they believe the player will score more or fewer points than that number.
Example Two: The Super Bowl
Another example of a prop bet is the halftime show prop bet during the Super Bowl.
In this bet, bettors place wagers on various aspects of the halftime show. This might include which songs the performer will play, what costume they’ll wear, or whether there will be any special guests.
Types of Prop Bets
Player props bets involve placing a wager on a player’s performance during a game or match. Examples of player props bets include:
- How many points a basketball player scores
- How many passing yards a quarterback throws
- How many home runs a baseball player hits
Player props bets provide a more granular level of engagement with individual players.
Team prop bets involve placing a wager on the performance of a team. Examples of team prop bets include:
- The total number of points a basketball team will score
- The number of goals a soccer team will concede
- The total number of yards a football team will gain
Team prop bets offer a better sense of a team’s overall performance.
Event prop bets involve placing a wager on a specific event that may or may not be directly related to the game or match. Examples of event prop bets include:
- The coin toss result in a football game
- Which song will be played first at the Super Bowl halftime show
- The length of the National Anthem before a major sporting event
Due to their innate unpredictability, event prop bets are particularly exciting.
Are you looking for prop bet opportunities in Ohio? Find out more here!
Benefits of Prop Bets
Prop betting is increasingly popular—especially online—because it’s a light, fun way to enter the betting world.
Traditional bets involve wagering on the outcome of a game or match. In contrast, prop bets focus on specific events or developments that may or may not be directly related to the final result.
They have several advantages over traditional wagering, including:
- A more comprehensive range of betting options (outside of sports events)
- Higher payouts
- More opportunities to bet strategically
- More excitement—great for casual bettors
With their increased payout potential and strategic opportunities, prop bets are a great way to add excitement and engagement to your betting experience.
Strategies for Making Prop Bets
Making prop bets is a fun way to engage with your favorite sports teams, players, or events. However, you still need to be strategic with your bets, especially if you’ve got a lot of money on the line.
Before making a prop bet, analyzing the situation and working out some betting strategies are vital. Look at a player’s performance history, analyze team statistics, or review past trends for events. Gather as much information as possible to help you make an informed decision.
Evaluate the odds to identify profitable opportunities. Learn how gambling odds work and practice calculating the potential payout for a given bet based on the odds provided.
It’s easy to get carried away with prop bets. Set limits on how much you’re willing to wager to keep you and your money safe. And be selective about which prop bets you make based on the odds of winning.
Best Prop Bets to Make
Whether you’re betting on live games or the outcome of an award show, it (literally) pays to understand the types of bets most commonly placed.
Player performance prop bets focus on the performance of individual players within a game or match. Examples include betting on a basketball player’s total number of:
- Points
- Rebounds
- Assists
Team performance prop bets focus on the team’s performance as a whole. These bets discount how individual players perform entirely. Examples include betting on a team’s:
- Total number of points scored in a game
- Total number of turnovers
Event prop bets focus on events tangentially related to the game or match. These events influence the game, but indirectly. Examples include betting on:
- The total length of the national anthem at the Super Bowl
- The color of the Gatorade that’s dumped on the winning coach
Entertainment prop bets focus on events outside of sports. This could be anything from the outcomes of political elections to who gets which award in an entertainment award show like the Academy Awards.
Add the Best Prop Bets to Your Betting Tool Kit
Prop bets can be a lot of fun, especially if you get your friends and family involved. For example, they can be a great way to inject even more excitement into a Super Bowl watch party.
But remember, even if you make what you think are the best prop bets, the risk is still high. There’s every possibility you will lose. So only gamble with money you’re prepared to say goodbye to—permanently.
For more betting tips and tricks, browse the other blog posts on our website.
