Prop bets are a type of wager that involves betting on a particular occurrence or non-occurrence. Will Tom Brady throw two touchdown passes during the first quarter of his next game? This is just one example of what a proposition bet might look like. There really is no limit to which sports these types of bets can be linked to, or what the bet may entail. With a plethora of wagering opportunities available year round, it is possible to generate substantial profits from proposition betting.
Proposition bets can be either short or long-term. For example, a long bet could include an event that may or may not take place over the course of an entire season. A short bet could include an event that may or may not take place within just a few minutes. There are other options as well, such as will a certain player steal a base during a game, or will a certain player score a goal. The possibilities are endless.
Odd, money lines, over/under and more can be a part of this type of wager. An example of an over/under would be a wager where the bettor bets that more than four games will be played before one of the two teams is able to win the World Series. Using this example, the odds would look something like this:
If a $100 bet is placed and the series does extend past four games, $150 will be won. Of this, $100 will be the original wagered amount returned, plus $50 in profit. If the bet is placed on their being four games or less and this is the case, the winnings will be $250. Of this, $100 will be the original bet amount, plus $150 in profit. In this example, the online sportsbook has predicted that there will more than likely be more than four games played before a winner is decided and the odds were set accordingly.
The financial risk increases with prop bets are very specific. When considering these types of wagers, it is extremely important to know the sport very well. Additionally, it may be important to know specific players very well if the bet is linked to any one player. For example, should you plan to wager that Russell Wilson will throw for more than 300 yards against the Miami Dolphins, considerations would include his average yards per game, past performance against the Dolphins, whether the game is at home or on the road, how good Miami’s defense is, and more.
Generally, the more specific the conditions, the higher the total payoff that is offered. This fact will definitely benefit those who choose to bet on sports and players that they are extremely knowledgeable about. Those who are new to this form of betting would be wise to start out with lower risk wagers, moving on to higher risk wagers after observing how the betting system works. Many of the major online sportsbooks now offer prop bets, but since the odds can certainly vary, bettors will want to carefully consider who to place their wagers with.