Prop bets are short for proposition bets and are basically anything not considered a traditional bet. It can also be considered a novelty or exotic bet. Basically, it’s nontraditional, and in most instances a fun departure from picking a side or total of an event.
In the past, prop bets were considered a novelty and were difficult to find. Now, most online sportsbooks have more prop bets listed than traditional game bets on most events. The biggest day of the year for prop bets is Superbowl Sunday. In addition to picking the winner with or without the points or the total of the game there are hundreds (yes hundreds) of other wagers available on the game. A bettor can pick anything from the outcome of the opening coin toss to the length of the national anthem down to the second. Other fun bets can include the color Gatorade thrown on the winning coach, or if Gatorade will even be thrown at all. Some sportsbooks even do cross-sport propositions such as whether a team will have more sacks than an NBA player has rebounds on a game played that same day.
Prop bets are a fun and interesting departure from traditional wagering. With fantasy sports becoming bigger each year, books have quickly caught on and started adding player props to their selections. Now bettors don’t have to worry about whether or not a certain team wins a game. They can wager on things like whether Peyton Manning will throw more than two touchdowns, or Adrian Peterson will score a rushing touchdown in any given game.
Prop bets are treated like money lines in regards to the juice. Something that has a 50/50 chance (for example the Superbowl coin toss) will be priced at -110 for either side. Something that is more likely to occur will have a much steeper price tag. For example a prop bet of Lebron James scoring more than 20 points in a given game will likely be -300 or thereabouts since his average is much higher than that and it is more likely to occur. Savvy bettors who realize that Lebron might get rest and not play as much against a weaker opponent might try the under and get an attractive price around +250.
The art of prop betting is serious for investors looking for an edge. Since there are so many options and they aren’t as popular as traditional against the spread bets, books monitor them closely to not be weighted too heavily on one side. Most books do not offer large limits on props as well since the action isn’t as heavy. There are definitely wagers that should be examined to find an edge and help you add to your bankroll.