How Does a Prop Bet Work?

by JohnnyBet from
How Does a Prop Bet Work?

When betting on sport, the most common form of betting is to back who you think will win but, on this page, we are going to ask ’how does a prop bet work?’ In our prop betting guide, you will find out how to place prop bets and see examples and strategies for props. We begin by looking at what is proposition betting?

1. What is a Proposition Bet?

A proposition bet is one that happens inside the game rather than one that is based on the outcome of the game. Prop bets in sports betting do not include bets like points totals and points spread betting because these are related to the end of the game. For example, one of the most popular prop bets is to choose a player to score the first touchdown of an NFL game.

As soon as a player scores a touchdown, the market is closed and the money is paid for the winning prop bets. There is no need to wait until the end of the game to settle the bet because the outcome is irrelevant to proposition bets. Check out our latest review of the bet365 bonus VIP promotion which can be used on prop bets by following the links.

It is believed, prop betting was born in the 1986 Super Bowl when Las Vegas sportsbooks asked punters if William “The Refrigerator” Perry would score a touchdown in the game. We will look at some more prop bet examples shortly but with proposition betting defined, it is time to move on to how to bet on propositions and win.

2. How to Place Prop Bets?

When understanding how does a prop bet work you need to know what the odds mean. Staying with the NFL first touchdown scorer market, the odds will be presented with the player names and the odds, as follows:

Davante Adams +200

Aaron Jones +300

Zach Ertz +450

Miles Sanders +800

So, if you decided to back Jones at +300 and you wanted to bet $40, you would win $120 if he scored the first touchdown plus your $40 back, for a total of $160. You do not have to use American odds to place a prop bet and you could choose to use decimal or fractional odds.

Not all prop bets must be placed before the game starts and now, we will move on to live proposition betting explained. There are several types of live proposition bets and staying with the NFL, you can bet on how the next drive is going to end. There are usually three options and they are touchdown, field goal, or interception. Our team of experts at JohnnyBet recently tested the latest Unibet sportsbook promo code and you can read their review by following the links.

To place the bet, you add your stake as in the example above and wait for the next drive to end to see if you win. When placing prop bets in sports betting, you can first sign up to our recommended online bookmakers using our promo codes, including bet365, William Hill, and Unibet. Copy our bonus code, click on our links, complete the registration form (including our promo code), make your first deposit, and place the bet.

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2.1 Skill Prop Bets

As we learn how prop bets work, there are two different types of prop bets you can place. The first is known as a skill prop bet and this involves using knowledge and statistics to make an educated bet. For example, if you wanted to bet on a player to score the first touchdown you can use information to make an informed bet, such as how often a player has scored first in previous games, how often the team has scored first in previous games, and the quality of the opposition defense.

Many prop bets strategies are based on skill prop bets and tips for prop betting will always be focused on skill bets. Another way the best tipsters enhance their knowledge before placing prop bets is by reading studies into betting markets. For example, if you wish to focus on a sport like baseball, a deeper understanding of using betting market odds to measure the uncertainty of outcome in Major League Baseball could potentially contribute to greater a chance of success (not a guarantee).

2.2 Fun Prop Bets

If you just want to have fun with prop betting and are not overly worried about the outcome, fun prop bets are for you. These differ from skill prop bets because there are no statistics or knowledge that can help you when placing the bet. For example, you can place a prop bet on the coin toss at the beginning of the Super Bowl. No knowledge is required and there is nothing you can do prior to making the bet to improve your chances of winning. If you want to know 'what is the William Hill promo code?' Simply follow the links to get the latest William Hill bonus code.

3. Prop Betting in Sports

When analysing how does a prop bet work, we have focused on NFL but prop betting is available across many sports. You can bet on who will score the first goal in a soccer match, how many runs a player will score in a cricket match, over/under runs scored by a player in a baseball game, which fighter will win a specific round in a boxing match, player to score the first try in a rugby union match, plus many more.

Almost any sport on which you can bet live, you will find a prop bet of some description, with tennis being a good example. You can bet on the total number of games in the second set or the correct score come the end of that set. One of the beauties of prop bets in sports betting is the number of betting options available.

4. Proposition Betting Sites

We have already touched upon the top betting sites for proposition betting. We recommend you join bet365, William Hill, and Unibet for your prop betting as they have a wide range of markets, including live proposition betting. You can join all three bookmakers using our bonus codes and take advantage of free bet offers when placing prop bets. Now you know the answer to the question, ’how does a prop bet work?’, you are ready to begin your prop betting experience.

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