A prop bet, more formally known as proposition bet, is a bet placed regarding the occurrence or non-occurrence of an event that does not directly affect the outcome of a game. In a sense, a prop bet is essentially a side bet. As a general rule, the sportsbook tend to do well on prop bets as these bets are commonly driven by public interest and perception. Many bettors, primarily casual bettors, play them solely for enjoyment purposes and the prospect of a big payout, without giving much thought into why the bet was placed. Additionally, most sportsbooks also spend much less time to ensure that the lines are sharp compared to traditional lines such as point spreads, moneylines, and over/under game totals. Instead, sportsbooks usually charge more juice or vig on prop bets, making it much easier for them to earn higher profits on them. In this article, we’ll take a look at what you should know about prop betting.
Examples Of Prop Bets
Prop bets may range from the expected (e.g. LeBron James over/under total points set at 25.0 points OR Will Tom Brady throw more than two touchdowns?) to the unexpected (Will the Super Bowl national anthem last longer than 100 seconds? Yes or No OR Will there be a proposal during the Super Bowl?). Clearly, the sheer variety of prop bets can make these bets appealing to a much wider audience compared to traditional forms of betting.
Prop Bets Are For Smart Bettors, Not Suckers
While some people may dismiss prop bets for suckers’ bets due to their popularity among casual bettors along with the extra juice charged, there are plenty of sharp bettors who take prop bets rather seriously and end up profiting generously on prop bets. If focusing and betting on teams constitutes macroeconomics, prop bets are more like microeconomics in that bettors analyze individual statistics and become specialists, such as fantasy sports gurus, often identifying prop betting lines at sportsbooks that are off by a lot compared to their own projections. This will allow them to bet on the prop with the expectation that there’ll be some sort of value to be derived from this bet. Lines tend to be off on a lot more occasions compared to traditional betting options since sportsbooks and oddsmakers simply don’t have enough time to focus on every single player and every potential random occurrence over the course of a single game, let alone multiple games on the same day.
Advantage When It Comes To Prop Bets
Based on the information described above, you can certainly derive an advantage when it comes to prop bets. This is due to the fact that if you only focus on a few specific prop bets, you’re able to spend much more time and energy on these bets compared to sportsbooks. As a result, you may come across valuable information and other key statistics that the sportsbooks and oddsmakers may have missed in their attempt to set a line for these prop bets. Additionally, with hundreds of prop bets available each week, you will surely be able to identify regular discrepancies if you look hard enough and conduct extensive analysis and research. Furthermore, one particular discrepancy that tends to occur more often than not is the over option associated with prop bets. Sportsbooks and oddsmakers tend to set the totals a bit too high at times, rendering the under bet an attractive option.