You’ve probably heard of moneylines, spreads, and totals. Well, prop bets are a little different and allow you to wager on things that aren’t directly related to the outcome of a game, such as the first player to score a touchdown. Also, unlike futures, with props, you’re betting on events within a single game.
Props are all about predicting an individual team’s or player’s performance. With so many statistics now recorded, the prop betting options continue to expand.
Proposition Betting Types
There are four main types of prop bets: game, player, team, and exotic. Here is how they work:
Game Props
With game props, you’re betting on different events that can happen in a match caused by either team or any player. For example, you can bet on any player to foul out in an NBA game or the number of total strikeouts in an MLB match.
Team Props
Unlike game props, team props are only focused on a particular team’s performance. You might bet on the Philadelphia Eagles to kick a field goal in the first quarter or the Chicago Cubs to hit two home runs in the game.
Player Props
Player props are all about betting on a player to achieve or not achieve something during a game. For example, you can bet on your favorite wide receiver to score the game’s first touchdown or Luka Dončić to get a triple double.
Exotic Props
While the other types of props are related to game statistics, exotics aren’t. Some famous exotic props are betting on the coin toss or what color Gatorade the players will dump on the coach.
Best Sports for Prop Bets
The NFL is king when it comes to prop bets. In fact, the very first prop bet was offered on Super Bowl XX in 1986 when the sportsbooks offered odds for William Perry scoring a touchdown. The markets have progressed a long way since then. Popular NFL props are certain players to score a touchdown and over/unders for popular stats like rushing, throwing, and receiving yards.
Basketball is quickly becoming a go-to sport for prop hunters. It’s great fun to not only back your hometown team to get the win but also place some cash on the team’s superstar to have a great game. I bet on Joel Embbid to score more than 30+ every game and Domantas Sabonis to rack up a triple double.
Are Prop Bets Bets Worth It?
Prop bets were considered a license to print money by sportsbooks and mainly targeted at novice bettors. However, things have changed as the markets have become more popular and sharps have deployed their number-crunching abilities to accurately predict player and team statistics.
Prop betting markets can offer great value. These wagers are also a great way to get some quick action, as your bet can be settled within the first few minutes of the game. If I don’t have time to catch a whole NFL game, I’ll throw a bet on the outcome of the first drive!
With prop bets, you have to be careful with the juice, which can be much higher compared to moneylines and spreads. Before you place a prop, calculate the implied probability for all outcomes and see just how much the commission is.
Prop Betting Tips & Strategies
If you’re new to prop betting or are looking for a new strategy, here are my tips:
- Don’t accept the first odds you find – Odds for props can vary significantly between different sportsbooks. It literally pays to shop around and find the highest odds possible.
- Study historical trends – To figure how many points or throwing yards a player is going to rack up, you shouldn’t just look at their average performance. You need to look at their performance against the team they’re facing, how they typically play, where the game is being held, and their form over the last few matches.
- Factor in a player’s motivation – If the Dallas Mavericks are in a do-or-die playoff match at home, then don’t be surprised if Luka Dončić goes crazy and scores 40+ points.
- Avoid exotic props – While it may be tempting to bet on the color of the Gatorade that players will splash the winning coach with, these types of wagers tend to have very high juice.
One of the best things you can do when it comes for help with prop betting, is to use one of the dedicated prop betting software and tools that are now available.
What Are the Best Sportsbooks for Prop Bets?
If you’re after NFL props, then DraftKings is a great option. They have generous odds for over/under markets for every player stat imaginable, including sacks, passing yards, and touchdowns.
For NBA props, I’m a big fan of bet365. You can wager on everything from opening tip-off to teams to win quarters to how many points LeBron is going to drop.
