A Beginner’s Guide to Prop Betting: Understanding the Prop Betting

10 min read
Aug 7, 2024, 9:07 AM
Author
Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief
Fact checked by:
Sol Fayerman-Hansen
Editor-in-Chief
Last Updated: Sep 12, 2024, 2:47 PM

Prop Betting 101

Prop bets, short for proposition bets, are a popular form of sports wagering that focuses on specific events or occurrences within a game, rather than the overall outcome. Unlike traditional bets that concentrate on who wins or the point spread, proposition bets offer a more engaging and diverse way to bet on sports. This guide will help you understand the nuances of prop betting, types of prop bets, how to place them, and strategies to improve your chances of success.

Prop Betting on Basketball

What is Prop Betting?

Prop betting allows bettors to wager on various aspects of a game that may not directly affect the final outcome. These bets can range from predicting the number of points a particular player will score to whether a specific event, like a coin toss, will occur. Proposition bets add an extra layer of excitement to betting by focusing on specific in-game occurrences and player performances.

Prop bets add an extra layer of excitement to sports betting markets by focusing on specific in-game events and player performances.

Example
During the Super Bowl, you might bet on the length of the national anthem, the result of the coin toss, or the first player to score the first touchdown. These bets are often available for a wide range of sports, including basketball, football, baseball, and even niche games.

Types of Prop Bets

Prop bets come in various forms, and understanding the different types can help you make more informed betting decisions. Here are some common betting markets:

  • Player Props: These player props bets focus on individual player performances. For example, you might bet on LeBron James to score over 30 points in an NBA game or Tom Brady to throw more than 2.5 touchdowns in an NFL game. Odds for player props can vary; for instance, betting on LeBron scoring over 30 points might have prop odds of +150, meaning a $100 bet would win $150.
  • Team Props: These involve specific team achievements, such as which team will score first, the total number of three-pointers made by a team, how many points, or the number of sacks a defense will record. For example, you might bet on the Golden State Warriors to make over 15 three-pointers in a game, with odds of +200.
  • Game Props: These bet props are related to specific occurrences within a game, such as various game outcomes of the first half, the total number of fouls, or whether a game will go into overtime. For instance, betting on a soccer match to go into overtime might have odds of +300.
  • Novelty Props: These bets cover unusual or offbeat stuff, like predicting the color of the Gatorade dumped on the winning coach in the Super Bowl or the number of times a specific word will be mentioned during a broadcast. For example, prop odds at online sportsbooks for the Gatorade color might be +500 for blue, +600 for red, and +700 for yellow.

Understanding the different types of prop bets can help you make more informed decisions and add variety to your betting experience.

Prop Betting in the NBA

The NBA is a favorite among prop bettors due to the numerous opportunities to place player props bets on player and team performances. NBA prop bet examples can include:

  • Player Props: Wagering on individual statistics, such as points, rebounds, assists, and steals. For example, you might bet on Stephen Curry to make over 4.5 three-pointers in a game, with odds of -110, meaning a $110 bet would win $100.
  • Team Props: Wagering on team-specific outcomes, like the total number of three-pointers made or which team will score 100 points first. Wagering on the Los Angeles Lakers to score over 115 points might have odds of +120.
  • Game Props: Predicting specific occurrences within the game, such as which team will lead at halftime or the total number of combined points. For example, you might bet on a game between the Brooklyn Nets and the Milwaukee Bucks to have over 220.5 total points, with odds of -105.

NBA props are particularly popular due to the high number of statistical categories and frequent games, offering bettors ample opportunities.

Example
In a game between the Los Angeles Lakers and the Miami Heat, you might bet on LeBron James to record a triple-double (double digits in points, rebounds, and assists). The odds for this might be +250, meaning a $100 bet would win $250 if he achieves this feat.

How Prop Bets Work

Prop bets are typically listed by sportsbooks with specific odds. These odds reflect the likelihood of an event occurring and determine the potential payout. For example, a bet on a player scoring over 25 points might have odds of +150, meaning a $100 bet would win $150 if successful.

To place a prop bet, follow these steps:

  • Choose a Sportsbook: Select a licensed online sportsbook with the best bets that offers a wide range of prop bets. Ensure the sportsbook is licensed and has positive reviews from other bettors.
  • Navigate to Prop Bets: Find the section dedicated to prop betting within the sportsbook. This is usually under the specific sport and game you are interested in.
  • Select Your Bet: Browse the available prop bets and choose one that interests you. Pay attention to the odds and the specific conditions of the bet.
  • Place Your Wager: Enter the amount you wish to bet and confirm your wager. Make sure you understand the terms and potential payout before finalizing your bet.

Example
If you bet on Kevin Durant to score over 30.5 points in an NBA game with odds of -110, you would need to bet $110 to win $100 if he scores 31 points or more.

Understanding how prop bets work and carefully selecting your bets can enhance your overall experience.

Strategies for Prop Betting

Successful prop wagering requires more than just luck. Here are some strategies to enhance your chances:

  • Research and Analysis: Study player and team statistics, recent performances, and matchup specifics. For example, if you know a player has a favorable matchup against a weak defense, it might be a good opportunity to bet on their performance.
  • Specialize in a Niche: Focus on a particular type of prop bet or a specific sport to build expertise. Specializing can give you an edge over general bettors who may not have the same depth of knowledge.
  • Manage Your Bankroll: Set a budget for your prop bets and stick to it to avoid significant losses. This means not wagering more than you can afford to lose and spreading your bets to minimize risk.

Example
If you specialize in NBA player props, you might consistently bet on a particular player's performance metrics, such as points or assists, based on their recent form and matchups.

Effective prop betting involves thorough research and strategic wagering to maximize long-term success.

Tips for Beginners

For those new to prop wagering, here are some helpful tips:

  • Start Small: Begin with smaller bets to understand how prop wagering works without risking too much money. This helps you learn the ropes and develop your strategy.
  • Focus on What You Know: Bet on teams and players you are familiar with to increase your chances of success. Familiarity with the sport can help you make more informed decisions.

Example
If you're a fan of the NFL and know the teams and players well, start by placing small prop bets on player performances, such as wagering on a quarterback to throw over a certain number of touchdowns.

Common Prop Betting Mistakes

Avoid these common mistakes to improve your overall experience:

  • Betting Without Research: Placing bets based on gut feelings or without proper analysis can lead to losses. Always research the teams, players and season involved before placing a bet.
  • Chasing Losses: Trying to recover losses by placing larger bets can quickly deplete your bankroll and lead to problem gambling behavior. It's important to stay disciplined and stick to your strategy.
  • Ignoring Bankroll Management: Failing to manage your bankroll effectively can result in financial difficulties. Set a budget and stick to it, and avoid spending more than you can afford to lose.

Example
If you lose a bet, resist the urge to immediately place another bet to try and win back your money. Instead, take a break and reassess your strategy before placing another bet.

Avoiding common mistakes and maintaining discipline are crucial for long-term success in prop betting.

Prop Betting Resources

Utilize the following resources to enhance your knowledge:

Analytics Websites: There are many websites that offer valuable statistics and insights that can help you make informed decisions:
Football (NFL)
Baseball (MLB)
Basketball (NBA)
Soccer
Hockey (NHL)

Online Resources: Read guides on responsible prop betting wagering strategies to improve your understanding of props. Books by experienced bettors can offer valuable advice and strategies for success.

Prop Betting FAQs

Prop Betting FAQs
What is a prop bet?
Are prop bets only available for major leagues?
Can I place prop wagers on live games?
How do sportsbooks determine odds for props?
What are some common props in the Super Bowl?

Everything You Need to Know about Prop Betting

Prop Betting
Top MNF Prop Bets for Monday Night Football: Expert Picks and Predictions
author's profile image
Sol Fayerman-Hansen
08/07/2024
11 min read
Top MNF Prop Bets for Monday Night Football: Expert Picks and Predictions
Prop Betting
Top Player Prop Odds Comparison for Smarter Bets
author's profile image
Sol Fayerman-Hansen
08/07/2024
10 min read
Top Player Prop Odds Comparison for Smarter Bets
Prop Betting
Mastering the Player Prop Betting Strategy for Success
author's profile image
Sol Fayerman-Hansen
08/07/2024
12 min read
Mastering the Player Prop Betting Strategy for Success
Prop Betting
A Beginner’s Guide to Prop Betting: Understanding the Prop Betting
author's profile image
Sol Fayerman-Hansen
08/07/2024
10 min read
A Beginner’s Guide to Prop Betting: Understanding the Prop Betting
Next
All of Our Guides on Prop Betting

Meet our Authors

Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.

In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content. 

Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.

 ExperienceYear
Engaged in private entrepreneurship2000-2013
Founder and President at Bookmaker Rating, an online platform focused on sports and betting2013-2020
Co-founder at Azuro, a decentralized betting protocol2022

"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports." 

- Paruyr Shahbazyan, Founder, RG

 

Principles and Ethics

Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.

Strategic Vision

Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.

Future Perspectives

Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.

 

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG.org, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG.org prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG.org as a leading source of information in the gambling industry.

Experience:

  • Over 20 years in writing and editing across multiple industries
  • Former head of regional innovation at BMO Finanacial Group
  • Senior Writer, Online Casino Reports
Cristina Varela Galan
Cristina Varela Galan
Problem Gambling Expert

Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project 

 “Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.

Nick Ashbourne
Nick Ashbourne
Senior Writer

Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.

Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022. 

Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambling team.

Sergey Demidov
Sergey Demidov
Head of News Department

Sergey has been in sports journalism since 2007 as a reporter, editor, and manager. He has covered the Olympic Games, soccer World Cups, the World Cup of Hockey in 2016, the European championships, the Stanley Cup Finals, IOC events, and many others. Sergey interviewed the sport's greatest athletes, coaches, and executives. Since 2016, he has been an Independent Senior Editor of NHL.com/ru.

Anna Kravtcova
Anna Kravtcova
Problem Gambling Expert

Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.

Show More