What Is A Proposition Bet?
What does a proposition bet mean?
A prop bet, also referred to as a proposition bet, is essentially a wager on a “game within the game.”
Prop bets frequently revolve around in-game statistics and the attainment of specific statistical benchmarks by players or teams. Examples could include the passing yards for an NFL quarterback, points or assists for an NBA player, strikeouts for an MLB pitcher or total team goals for an NHL team, among others.
Every major sport at Indiana online sportsbooks offers hundreds of distinct props for you to bet on. If you can think of a statistic, pose a question about it, there’s likely a prop bet you can place on it.
Props can serve as an enjoyable betting alternative or an exhilarating extension to conventional single-game sports betting. It could also be likened to daily fantasy sports within the realm of sports betting, as it predominantly revolves around the statistics of your preferred athletes.
Is it advisable for beginners in sports betting to bet on props? Is prop betting more intelligent compared to other betting forms? Do certain sports lend themselves better to prop betting?
Our guide to prop betting at Indiana online sportsbooks below contains the answers to these questions and more.
Top Online Sportsbooks in Indiana for Prop Betting
Can you explain what a prop bet is?
As we previously mentioned, props are wagers placed on potential occurrences during a game, which may or may not transpire.
The outcomes of the games you’re wagering on are not typically directly influenced by these elements. Prop bets primarily involve wagering on whether players or teams can reach specific statistical goals. However, some prop bets may also encompass aspects at the edge of the game.
The popularity of prop betting started to rise with the Super Bowl, and to this day, there are more prop bets associated with the Super Bowl than any other sports event. The Las Vegas SuperBook at the Westgate, formerly known as the Las Vegas Hilton, initiated this trend by offering a multitude of prop bets for various games.
Nowadays, countless prop bets for the Super Bowl, as well as dozens more for virtually every game in every major sport throughout the year, are offered by sportsbooks on the Las Vegas Strip and online sportsbooks in Indiana.
How are prop bets paid out?
Most props either:
- propose something
- Pose a question that requires a yes or no answer.
- Establish a line where you can place an over/under bet.
Subsequently, odds on the various outcomes are posted by sportsbooks.
These betting odds represent your payout if the prop is successful, you answer the question accurately, or you land on the favorable side of the line.
Betting odds with a plus sign indicate how much you can win, along with your original bet, for every $100 you wager. Conversely, odds with a minus sign show the amount you need to stake in order to win $100, in addition to getting your original bet back.
For instance, you may place a $100 wager on Indianapolis Colts’ QB Carson Wentz to make a TD in the upcoming game with odds of +325. If he succeeds, you will receive a total sum of $425, which includes your initial $100 bet plus $325.
Alternatively, you could wager $110 on Wentz to pass over 325.5 yards in the game at -110 odds. If he accomplishes this, your payout will be a total of $210 from that gamble. If you decide to combine both bets into a parlay, your potential winnings would be even greater.
Which prop bets are available for each sport?
Props, similar to statistics, differ for each sport. Let’s explore some of the most popular prop bets for each major sport in the US:
NFL prop bets
NFL betting often includes popular player props such as:
- TD passes
- Rushing yards
- Passing Yards
- Catches
- TDs
Props popular among NFL teams include:
- Rushing/Passing/Total yards allowed
- Turnovers
- Team point totals
MLB prop bets
Typical player and team propositions in MLB encompass:
- Strikeouts
- Hits
- RBIs
- Home runs
You have the option to place bets on either MLB teams or individual players, for a single match or a specified duration, including the full season.
NBA prop bets
Most statistical categories are included in popular NBA props.
- Points
- Rebounds
- Blocks
- Assists
- Steals
- Turnovers
You have the option to place bets on NBA teams or individual players. Additionally, you can wager on a single game or a specific time, even the entire season.
NHL prop bets
Most statistical categories are included in popular NHL props.
- Goals
- Assists
- Saves
- Penalty minutes
Similar to the NBA, you have the ability to place bets on teams, individual players, single games, specific time frames, and the whole season.
NCAA football prop bets
Similar to the NFL, popular player props in NCAA football include:
- TD passes
- Rushing yards
- Passing Yards
- Catches
- TDs
Common props for NCAA football teams include:
- Rushing/Passing/Total yards allowed
- Turnovers
- Team point totals
NCAA basketball prop bets
Popular prop bets in NCAA basketball are similar to those in the NBA, including:
- Points
- Rebounds
- Blocks
- Assists
- Steals
- Turnovers
You have the option to place bets on NCAA basketball teams all season long, and naturally, you can also bet on March Madness.
Other sports prop bets
In addition to the props market for professional sports such as golf, tennis, MMA fighting, and soccer betting, you can also find a number of other options. As long as the league or governing body maintains an official statistic, it is very likely that you can place a prop bet related to it.
Guide to Super Bowl Prop Betting
The Super Bowl marked the beginning of widespread prop betting and continues to be its main hub to this day.
Almost everything associated with the Super Bowl, including the result of the pre-game coin toss and the color of the Gatorade dumped over the winning coach, can be bet on through Super Bowl props at Indiana online sportsbooks. Super Bowl betting offers more props than any other event.
The categories into which Super Bowl props typically fall include:
- Player and team prop bets: These are bets related to offensive and defensive game statistics, as well as awards such as Super Bowl MVP. Questions like, will the starting quarterback pass for more than 325 yards? Who will score the first touchdown? Or, who will make the first sack? are all examples of player and team prop bets.
- Props related to non-game actions such as the coin toss are referred to as off-field props. The regulations for these props can vary from one state to another and may require individual approval in certain instances.
- Crossover bets: These involve combining Super Bowl bets with those from other sports. Who will emerge victorious in the Super Bowl and either the NHL or NBA games happening on the same day? Who will be the champions of both the Super Bowl and NBA Finals this year?
- Exotic Bets: Wagers you’d never imagine placing, such as the color of the Gatorade that’s dumped on the coach.
Reasons to consider betting on props
Betting on props is likely the most enjoyable method to wager on sports. They can infuse a game with various thrills, providing you with more to cheer for beyond the typical game result. Moreover, numerous props offer reasonable odds, giving you the opportunity to win substantially with a small bet.
The concept of sports betting is easy to grasp, even for those new to the activity. Enthusiast and veteran gamblers can leverage their deep understanding of their favorite sports to succeed in various prop betting markets. This makes props an ideal betting option for both casual and passionate sports fans.
Most props have a statistical nature, making them more akin to daily fantasy sports than any other form of sports betting. Daily fantasy sports players, however, will enjoy the flexibility offered by prop betting, given that it does not restrict them to a specific salary cap, stat type, or sport.
Whether you choose to bet solely on props or combine it with traditional single-game wagering, it’s guaranteed to heighten the fun and thrill of your sports betting experience.
What amount should you wager on prop bets?
Wager only with your expendable income that you can comfortably lose. If you adhere to this, the amount you stake on prop bets should be completely your decision.
In other words, it’s crucial to adhere to particular bankroll management strategies. This entails creating a betting bankroll with an amount that you can afford to lose, and making certain not to wager too much of it on a single bet.
To achieve this, you can create a unit equivalent to 1% of your bankroll. Depending on your confidence in the prop and the offered odds, you can then wager between one to five units on any prop you find appealing.
Are you confident that Patrick Mahomes, the quarterback for the Kansas City Chiefs, will score a touchdown in the Super Bowl? If so, place a wager of two units at +325. Are you nearly certain that Mahomes will throw for more than 325.5 yards? In that case, stake four units at -110.
Does one sport make more sense for prop bets than another?
Betting props doesn’t inherently favor one sport over another. However, as most props revolve around statistics, it would be logical to bet props on the sports that you are most familiar with and comprehend the best.
To be successful in prop betting, you need to conduct thorough research and grasp statistical probability well. This knowledge allows you to compare the given odds on a prop bet to the real possibility of the bet’s outcome occurring. If these probabilities are similar, you can confidently place your bet.
NFL props, including Super Bowl props, hold the highest popularity. However, if your interest lies more in the NBA, MLB, or NHL rather than the NFL, it would be more logical for you to bet props in those sports.
How to make prop bets in a game
Betting live through Indiana’s online sportsbooks adds an exciting element to watching games, and in-game props contribute significantly to this thrill.
Live betting enables you to place bets in the midst of games with odds that fluctuate according to the ongoing action. The odds alter rapidly, making online and mobile betting apps the sole means of keeping pace.
Most of the markets that you can place live bets on are the same as those you can wager on before the game. However, they also offer a larger number of in-game props.
The odds shift as the stats change, making in-game prop betting an exhilarating way to participate in the action of live sports as it unfolds.
Early cashouts
Certain online sportsbooks in Indiana may provide you with the chance to cash out on some live props. They will display a cash-out price on the prop within your active bet list, which you can click on to accept.
When your confidence in the bet is dwindling, cashing out could be a viable option. Depending on the offered price, this could allow you to gain some profit or recover a portion of your bet. However, be mindful that sportsbooks seldom provide genuine expected value on cashouts.
Top mistakes to avoid in prop betting
Props can indeed be entertaining and it’s perfectly fine to enjoy them as such. Likewise, it’s not a mistake to approach prop betting with a more serious mindset, delving into statistics and placing bets based on probability.
Regardless of your strategy towards props, you should strive to evade these prop betting errors:
1. Betting against yourself
There is a vast selection of props available for the majority of games, which can be challenging to keep track of. As you scroll through the list and place bets on your preferred props, try not to fall into the trap of betting against yourself. For example, if you bet on a quarterback throwing over 300 yards and then also bet on the opposing defense yielding less than 300 passing yards, you’re essentially wasting money. Although contrary props aren’t very common, it’s still wise to avoid placing bets on conflicting sides of those that exist.
2. Betting too much
Many props are longshots with substantial odds. Be cautious not to wager too much money on these longshots, as the odds for prop bets are usually high enough that placing a small bet can still yield a significant return.
3. Betting big favorites
Don’t fall into the trap of wagering on large favorites, as the odds are usually set at a level where you must bet a substantial amount to win a small amount. The risk is hardly justified.
Rules for prop betting in common sportsbooks
Before placing a bet on any prop, ensure to read the fine print. Different rules may exist for different props and how situations are dealt with at Indiana online sportsbooks. It is certain that all rules concerning their operations will be published by the sportsbooks.
However, for the most part, you can generally expect Indiana online sportsbooks to employ the following rules for props:
- Unless specified otherwise, scores and stats from overtime periods are included.
- If a game is suspended for any reason, props may be considered ‘no-action’ wagers and all bets will be refunded.
- The results of prop bets are not considered official until the game’s outcome is officially determined.
- If the player does not play, most player props are nullified and all bets are refunded.