Prop Betting
Proposition bets, also known as prop bets, are specific type of wagers which involve placing a bet on a particular occurrence, such as LeBron James scoring more than 10 points in the first period for his Miami Heat team. Prop bets are considered to be alternative type of bets to regular type of odds. They can be quite entertaining and even funny, like “Will Mike Tyson bite Evander Holyfield’s ear off in the next boxing match?” There is practically no limit to the number of prop bets an online sportsbook can make up. You can find proposition bets in practically all sports, from Formula One, to UFC, to Soccer, and even for politics, celebrities, soap-operas, and more. If used correctly, it is possible to make some good money from proposition betting, if not an amazing good time.
Prop bets can be long-term and short-term. Some example of a long-term bets are, “What player will hit the most home runs all season?” or “Will Canada win a gold medal in World Championship Hockey Tournament in 2012?” Some examples of short-term prop bets are: “How many bases will the Yankees take over the Red Sox’s in a third inning?” or “Will Lionel Messi score a goal in the first period of a World Cup Game against Brazil?”
Prop bets can involve all sorts of betting odds, including money lines and over/under odds. Let us use an example of over/under prop bets to demonstrate how they are calculated. Let us say you want to bet on whether there are going to be more than 4 games in the playoffs between Miami Heat and Boston Celtics. The odds will look like this:
4.5
- Over -200
- Under +150
You are betting $100 that there will be more than 4 games in the series. If you are right, then you will get a total of $150 ($50 +$100). If you successfully bet that there will be exactly 4 or less games in the series, then you will win a total of $250 ($150+$100). In this case, by making ‘over’ lines favorite, online sportsbook are predicting that it is much likelier that there will be more than 4 games in this series.
Let us use a money line prop bet to further illustrate how the prop bet works. Let us say you want to bet on a UFC fight between Brock Lesnar and Shane Carwin, “Which fighter will win by a knockout?” The odds are:
-Shane Carwin (+110)
-Brock Lesnar (-110)
-No One (-200)
If you bet $100 on Shane Carwin to knock out Brock Lesnar, then you can get $210 in total ($100 bet plus $110 won). If you bet that Brock Lesnar will knock out Shane Carwin, then you can get $191 in total ($100 bet plus $91 won). If you are betting $100 that no one will win by a knockout (it might be by submission, judges’ decision, doctor stoppage, and so on), then you can get $150 in total ($100 bet plus $50 won). In this case, online sportsbooks are predicting that the most likely outcome is that no one will get a knock out.
Proposition bets can be very specific. If you are betting on one of those props, be sure to understand that sport well. You should know about the players you are betting on or the person/evnt and how different teams stack up against each other. For example, if you are betting if LeBron James will get more than 20 points in a game against Lakers, you should know the number of points LeBron averages in his games as well as how Miami Heat plays against Lakers. Adding those factors can allow you to make more educated decisions.
Another interesting note to consider about prop bets is that the more specific they are, the riskier and less predictable they might be. It is not always the case, but it is very common. For example, “How long will the fight last between Shane Carwin and Brock Lesnar?” This is harder to predict than who will actually win. You would need to know if the two fighters last long rounds or if they knock their opponents early. If they are fighting for the first time, it is even harder to predict. The prop bet can even be more specific, like “Will the fight be stopped due to a doctor’s stoppage or due to a choke?” In this case it is even harder to predict. On the bright side though, the more specific the bet is, the higher the potential payoff.
Look at our recommended online sportsbooks, and make your prop bets now!
