We are not big fans of prop betting! By nature, it is high-juice leisure playing crap. For the record, bookmakers build-in high margin juice, and it is hardly viable for value gamblers. Nevertheless, we want to explain what is prop betting and how it works:
SIMPLE EXAMPLES OF PROP BETTING (WHAT IS PROP BETTING & HOW IT WORKS)
Bookmakers might have 200 different prop bets on top league football. Here are a few:
- Correct score
- Half-time & full-time
- Which player will get the first/last goal.
- How many corners,
- Under/over the number of bookings.
- Red card – yes/no.
- Will a penalty be taken.
- Number of throw-ins.
- How many substitutes are going to be used.
- Who will win the man of the match.
- How many shots on goal (under/over).
- Will the first goal be scored before 29 minutes yes/no.
- How will the first goal be scored.
Season & game props include:
- How many runs will a player make during the season.
- Who will score the most runs in the team.
- What hitting rate a team averages.
- Which player will score most runs.
- Will player A get more bases than player B.
- Which innings produces most runs.
- Method of the first home run.
- Number of strikeouts a pitcher will take.
Prop betting on NFL is very popular, some examples:
- Total Receiving yards.
- Total Running yards.
- Total Rushing yards.
- Will a player score a touchdown.
- Which quarter produces the most points.
- Which team will score first.
- Which team will get to 10 points first.
- How many touchdowns in a game.
- Which team will get to 10/15/20 points first.
- Name the first scoring play.
Examples of Basketball prop bets:
- What will be the total goal percentage.
- What will be the total game spread.
- Which player is going to get the first points.
- Will a named-player reach 30 points.
- How many 3-pointers.
- Which team will get to 10/15/20 points first.
- Which quarter will have most points.
- Who will win each quarter
- Head to head player scores
Tennis betting props include:
- Who will win the first set.
- Name the set score.
- How many games in the match.
- Will there be a tie-break.
- Time of longest game.
- Who will have most first serves.
- Number of aces.
- How many double faults.
Prop bets challenge the bookmaker to find as many alternatives to traditional betting lines as possible.
WHO OFFERS PROP BETTING
Traditional bookmakers offer prop betting for entertainment purposes and because they can increase margins without the customer noticing.
Prop bets give leisure players more betting alternatives. While that all sounds interesting, it helps greedy bookmakers take customers money faster. The lure of higher odds and bigger wins are more appealing to small staking punters, making it an easy sell.
A roulette table has 37 numbers, and the casino pays 35-1 (36.00) for picking a single number correctly. They also pay odds of 2.00 on even/odd numbers, or Red/black. The zero (white) belongs to the house, meaning the house advantage is around 2.7%.
Unlike with casino, bookmakers create odds based on what they perceive to be chance. With 20 option prop bets, the bookmakers are likely to build-in an over-round of 140 to 150%. Suffice to say that is not very competitive.
However, the advantage of bookmakers is they are many. Unlike with casino’s they have differing odds, and thus by shopping around customers can squeeze the juice.
If tempted to make prop bets, go and compare odds on a bookmaker comparison site.
With regards to prop betting margins, it will most likely depend on the number of betting alternatives. Who will be winning at Half-time/Full-time in football as nine betting options! Up to 4 goals, correct score betting has 25 possibilities. The first player to score could be any of the 22 players on the pitch, or no goal scorer makes 23 different options. Include possible reserves, and the number increases.
NOT ALL BOOKS SELL PROP BETTING
Low margin Bookmakers are not overly keen on prop betting. Take Pinnaclesport for example, they specialise in Asian handicaps and offer just a few side bets.
Such bookmakers specialise in low margin dynamic odds, meaning lines move according to the weight of money being bet. While prop betting is traditionally low stakes, Asian handicap bookmakers prefer volume.
FOR THE RECORD
Football Prop bets come from team and goal expectancy. Bookmakers adapt most prop odds from those two factors, albeit who wins the toss or number of yellow cards depends on other maths.
ANY VALUE FOR PROPS
Some people believe they can make money from prop betting and maybe they do. Value betting portals often find arbitrage betting opportunities in head to head props, but stakes allowed are small.
The best option for betting props is betting exchanges, although liquidity will be very low. Nevertheless, it might be possible to negotiate your position, and paying a commission is better than playing with high margin bookmakers.
CONCLUSION – WHAT IS PROP BETTING & HOW IT WORKS
What is prop betting and how does it work; It is possible to make a little money from prop betting, but is it going to be worth your time?
Just accept this type of betting is more suitable for leisure players, people who are betting for fun!