What is a Prop Bet
Example: “What are the odds on President Obama and his wife getting a divorce this year?”
Props are unusual bets that can add some excitement to your life. They can be based on a sporting event, television show, movie, celebrity, or a host of other things.
Betting on Props
In our futures article we talked about how they can tie up your bankroll for a very long time. Props are something that can be bet on in the short term.
A prop is basically a bet that is not directly tied to the final score of the game or event. Bets that are tied to the final are your normal spread, money line, or totals wagers.
For example, say your favorite football team is playing. You aren’t really sure who is going to win, but you do feel good about your quarterback having a bad day. You think they are going to run the ball a little more than pass it. In this instance you can try to find a prop bet on the passing yards or other passing stats and take the under. This will make the game exciting without tying your money into the uncertain final score.
This is similar to fantasy sports. It’s part of the reason daily fantasy has become so popular in recent months. You can just focus on the players that you feel are going to have a good game and not worry about what team will prevail. This is why props and daily fantasy can be an excellent way to profit from your sports knowledge.
It’s difficult to give tips on betting on props. There are just too many different options out there. The real key is that you study the teams, do your homework, and make sure you have a strong opinion before placing any prop bets.
I’ve seen too many public bettors get killed with dumb thinking. They see a guy who throws for 3,000 yards with an over/under passing yards total of 280. They don’t think that is only 185 yards per game!
You need to check both the team with the player you are backing and the opponent. What will the strategy of each team be? What are the weather conditions? Is there any player news you need to be aware of? And, like everything else. Shop around for the best number. The props will vary widely by book so you can get good numbers and bad.
Props aren’t that popular. The sportsbooks only take about 1% of their action in props. For the Super Bowl that changes. A lot of players throw action in on the prop bets for the big game.
If you decide to place any prop bets or do any daily fantasy then I wish you the best of luck!