What is a Prop Bet, Types, and How to Read

What is a Prop Bet

It is important to know what is a prop bet before you decide to place a bet. Prop bet or proposition bet is known as some of the most popular markets for an online gambling site. 

It falls into an “everything else” kind of category when it comes to the markets, compiling bets that will not necessarily include results of the match or game. In this article, we will explain what the meaning of prop bet is. Make sure you read until it finishes. 

Understanding What is a Prop Bet

To answer the question what is a prop bet, it allows you to bet beyond the standard full-game odds, and bet on the different aspects of a game or match.

Proposition bets first appeared at the Super Bowl XX in 1986, when Las Vegas bookmakers took bets on whether Chicago’s popular defensive tackle-turned-short extent running back William Perry will score a touchdown. 

The excitement of those alternative markets quickly gained popularity and prop bets became the primary of the Super Bowl betting. That demand obviously bled beyond the Big Game and, with the emergence of online sports betting Malaysia, multiple prop markets are now accessible for regular-season events in just about every sport. 

Prop bets used to be known as “sucker bets” in the past. However, with the popularity of exciting sports and advancements in analytics, proposition betting will generate a growing handle every year and is a market many sharp bettors look to for variance and value. Well that what is a prop bet. 

Types of Prop Bets

As you know from what is a prop bet, it comes in all shapes and sizes. However, below are the most common variations found at most sportsbooks, such as:

1. Game Props

Game props are chosen by events and happenings throughout a game. These proposition odds can be set around spreads or handicaps, over under, moneylines, or can be bet on in a Yes or No format. Moreover, game props can be classified on the entire game or broken into some results, such as halves, innings, or quarters. 

Some examples of proposition bets include:

• First team to 15 points
• Will there be a goal in the first 5 minutes of the game?
• The total number of rushing yards
• The team with the most strikeouts

2. Team Props

The team props will focus exclusively on the performance of each side or team. These proposition bets are most common over under betting, moneylines, or served in Yes or No formats. They also fall into some results as well of what is a prop bet. 

Some examples of the team props are:

• Over under total of 3-pointers created
• Will a team win all 4 quarters?
• Will a team score a defensive touchdown?
• The first-half team total points scored

3. Player Props

As you know what is a prop bet, the player props will be decided by player performance during a game or match. These can be bet on via point spreads, moneylines, over under, or through Yes or nO propositions. These will focus on individual players or pit 2 or more players against each other in head-to-head propositions. 

The examples of player props are:

• NFL player props offer the odds for the first player to score a touchdown
• NBA player props provides odds on the over or under for the total rebounds for a player
• MLB player props provides odds on the total number of strikeouts a pitcher may record in a single outing
• NHL player props offers the odds for the over under on the number of goals a player may score in a single game

4. Exotic Props

After knowing what is a prop bet, the exotic props are the betting markets out of the box score for an event, as well as odds offered on the games like the Oscars and other non-sporting events. 

Based on where you bet, this form might or might not be available, due to regulatory restrictions. For instance, you are not able to bet on the color of the Gatorade bath given to the winning Super Bowl coach in Nevada. However, you can use many online sportsbooks. 

The example of exotic props are:

• The length of the Super Bowl national anthem
• Which movie will win Best Picture at the Oscars?
• Which actor will play James Bond? 
• How much will the next Royal baby weigh?

Pros and Cons of Using Prop Bets

From what is a prop bet, if you want to move outside of the typical betting markets, this is possibly the most intriguing type of betting. Here, we have also covered some of the pros and cons of using this type of bet. 

Pros:

• Increased the engagement
• Different betting options
• Chance for higher payouts
• Skill-based betting
• Expanded entertainment value

Cons:

• Higher randomness
• Limited research and information
• Higher house edge
• Limited availability
• Emotional biases and distractions

How to Read the Prop Bet Odds?

As you already know what is a prop bet, you must be wondering how to read it. Proposition bets use the similar odds as the major bet types like point spreads, moneylines, and over or under. 

Positive odds indicate how much you stand to win for every MYR 100 you bet. For instance, you bet on a quarterback to have over 2.5 touchdowns in a match at +145 odds, and throw 3 in the game. When you bet MYR 100, you will be paid MYR 245, your first bet of MYR 100 will be returned to you, plus MYR 145 in winnings. 

On the other hand, negative odds will tell you how much you have to bet to win MYR 100. For instance, when you bet a player score less than 15.5 points in a basketball match at -135, then you will need to bet MYR 135 to win 100. 

Keep in mind that you don’t need to bet that high or that low. Your payout will be accumulated proportionally to your bet size when you finalize your bet slip. 

Final Words

Now, you already got the idea what is a prop bet. This type of bet goes beyond the standard full-game odds, and you can bet on the different aspects of a match or game. 

If you think proposition bets are suitable for your preference, you can start placing a bet. However, make sure to do your research on the team you are expecting to bet on.