A proposition bet, or ‘prop bet,' is a wager on specific events or outcomes within a game that aren’t directly tied to the final score. This article will explain what prop bets are and share helpful prop betting tips.
What is a Prop Bet? Understanding Prop Betting
With prop betting, instead of betting on which team will win, you're betting on things like a player’s performance or specific events during the game. For example, you might bet on how many goals a player will score or how many yards a quarterback will throw. Prop bets can have even odds or higher, depending on the specific bet.
Some examples of prop bets include:
- Player prop bet: Will Patrick Mahomes pass for over or under 275.5 yards?
- Team prop bet: Which team will score first, the Kansas City Chiefs or the Panthers?
Which events are best for prop bets?
The bigger the event, the more prop bets will be available. For example, the top US sportsbooks will offer many prop bets for an NFL game, while only a few will be available for a college football game between two unranked teams.
You will see the most prop bets available for marquee events such as the Super Bowl, World Series, and NBA Championship series.
Combining prop bets with parlays
Prop bets can be made by themselves and can also be part of a parlay bet. With so many betting options for prop bets, you can create a parlay with all prop bets or other types of wagers, such as against the spread and total bets.
Remember, when making parlays, it is a risk-reward type of wager, as the more legs (bets) in the parlay, the better the payout will be, but the harder it will be to win the bet. It is easier to make a same-game parlay in a game with many prop bets available.
Advantages of Prop Betting
Prop bets offer a fun and creative way to bet, especially for casual fans. Even people who don’t follow sports can join in with novelty props, like betting on the Super Bowl coin toss or how long the National Anthem will last.
Just like any other sports bet, the best strategy for betting on props is to handicap the bet, which means researching it. The more you do a little homework and handicap a bet, the more successful it will be, meaning there is more of a chance to win the bet.
How to Handicap a Prop Bet: A Step-by-Step Example
So, now that you know the answer to what is a prop bet is, let's answer the question of how to handicap a prop bet. You see that the Philadelphia Eagles are playing the Dallas Cowboys. There is a prop bet that Jalen Hurts will pass for over or under 285.5 yards.
Look to see how he has been playing as of late, how much the Eagles run the ball versus passing the ball, and how good or bad the Cowboys' pass defense is.
A good example of a value bet in this example is if the Eagles’ main RB is banged up or injured and will not play, and the Cowboys’ pass defense is not very good. With the Philadelphia RB injury issue and with Dallas struggling to defend the pass, it is more likely Hurts will air it out more often, which means it is more likely he will put up a solid passing yard total, so the Over would be the value pick.
When you handicap a prop bet or any bet, checking out player and team statistics, trends, current form, and significant injuries is always a good idea. Look for the best odds for any bet and if you want an easy way to get the profit for a bet you can use an odds calculator.
Exploring Prop Bet Categories and Odds with BetMGM
BetMGM is one of the leading sportsbooks in the U.S., offering many prop bets. In a game between the Chicago Bears and Green Bay Packers, you will see the categories of prop bets of:
- 🏈 Quarterback props
- 🏃♂️ Rushing props
- 🤲 Receiving props
- 🔄 Alternate rushing and receiving yards
- ➗ Totals
- 📊 Winning margin 4-way (including OT)
- 🟩 Green Bay Packers: total points
- 🐻 Chicago Bears: total points
- ⏱️ Halftime/final (excluding OT)
- 💨 Alternate passing yards
- 🏃♂️ Alternate rushing yards
- 🤲 Alternate receiving yards
- ↔️ Spread
- 🎯 Correct score
- 🏆 Winning margin (including OT)
It was mentioned earlier that some prop bets have even odds, and some have inflated odds. For the game above between the Packers and Bears, let’s check out an example of both. The QB matchup is the Packers’ Jordan Love and the Bears’ Caleb Williams.
BetMGM has Love with an O/U 235.5 yards and Williams with an O/U of 195.5. If you bet on Love to pass for over 235.5 yards, and he does, you will nearly double your stake in the even bet. I say nearly double, as even prop bets will be at either -110 or -115.
For an inflated bet, the Totals category has full-time, 1st half, and 1st quarter subcategories. For the full-time bet, there are many totals available with inflated odds, and just three of the many of them are:
| Points | Over Odds | Under Odds |
|---|---|---|
| 31.5 points | -375 | +270 |
| 32 points | -350 | --- |
| 32.5 points | -350 | +240 |
An example of a player prop with inflated odds for the example above is Alternative rushing yards for Josh Jacobs (Packers):
| Player Prop: Josh Jacobs (Alternative Rushing Yards) | Bet | Odds |
|---|---|---|
| 50+ rushing yards | Yes | -500 |
| 75+ rushing yards | Yes | -110 |
| 100+ rushing yards | Yes | +250 |
Making Prop Bets: Tips & tricks
The Number #1 prop betting tip, as previously discussed, is to do your homework and handicap the wager. Focus on identifying high-value prop bets by analyzing matchups, current form, and historical data, such as past games between teams and how they fared at home and on the road.
Avoid prop bets with high volatility or unpredictable outcomes. Stick to those backed by solid stats and trends. For example, instead of gambling on something random like the first touchdown scorer, choose props like a player’s total rushing yards, where you can rely on recent performance (this is key), opponent matchups, and game conditions.
Sportsbooks that Offer the Best Prop Bets
The three US sportsbooks that offer the best prop bets are BetMGM, Bet365, and DraftKings. All of these legitimate and respected sportsbooks offer many prop bets, especially NFL bets. They all have a wide selection of betting options besides prop bets, and they also offer great bonuses and promotions for both new and existing players.
Since they are three of the top sportsbooks overall, all of them offer a decent amount of prop bets for live bets, which is not often found at many other sportsbooks. Let's take a look at some of the best prop betting markets offered by the big three:
BetMGM, DraftKings & Bet365 prop betting markets & features
Money Management and Bankroll Protection
You always need to remember to gamble responsibly. The top US sportsbooks, including the ones mentioned above, will have a Responsible Gambling link, usually at the bottom of the landing page. In this link you will find responsible gambling tools such as limits (betting and time) as well as resources to problem gambling organizations.
It is vital that you only bet on sports at sportsbooks that are legal in your state. It is never a good idea to bet at offshore sites, as they may have a license from a legit gaming body. However, since the site is not under US jurisdiction there is no recourse for issues that may arise and this is especially the case for issues dealing with money.
When you bet on sports, you must use responsible bankroll management. Have a certain amount for sports betting and stick to that amount. For example, the NFL season is long, so pinpoint the bets you want to make and stick to betting smaller amounts on more games.
One key thing you need to avoid is chasing losses and chasing losses in betting more on a following game or bet after losing one to try to recoup your money lost. This is the easiest way to get a big hole and lose money. If you are on a cold streak chip away at the losses rather than trying to get them back on one bet.
Always bet with your head and not your emotions. Make handicap bets and make smart decisions rather than betting with emotions or simply betting on your favorite team or player.
Prop Betting FAQ's
What are some examples of a prop bet?
A prop bet is a wager on a specific event or outcome within a game, like in the NFL, whether Patrick Mahomes will pass for over or under 275.5 yards, without predicting the final result.
Why do they call it a prop bet?
A proposition bet (or prop bet) is a wager placed on a specific event or outcome that occurs during a game, which does not directly influence the game's final result.
Are prop bets worth it?
Season-long prop bets can offer substantial payouts. For example, betting on a player like Derrick Henry to rush for over 1,500 yards in a season might have odds of -110, but wagering on him to win the NFL MVP could offer odds of +1200. While the rewards for such future bets are greater, they carry a higher level of risk.
Is a parlay a prop bet?
A parlay bet can combine win/point spread wagers and prop bets, either from the same game or different games within the same sport, or even from multiple sports.