Making Prop Bets
There’s no doubt about it: prop bets are by far the most enjoyable bets you’ll ever make in sports. They let you bet on all sorts of different events, from an over/under on how many yards a quarterback will throw for to the result of a coin toss. And when it comes to major events like the Super Bowl, there’s no limit to the number of prop bets you can take on all sorts of ridiculous outcomes.
Now, if you want to just make small prop bets for fun, or to make a game a little more exciting, there’s no reason you shouldn’t do that. I think everyone has made a few prop bets that made little sense, but were very exciting to root for during a game. If every single bet you make is dead serious, you’ll get tired of betting on sports before too long, so a fun prop now and again can keep things a little lighter.
But what if you want to make larger prop bets and try to make them profitable? That’s a tougher task. However, there are a few rules you can follow to give yourself a fighting chance – or even a huge advantage.
First of all, you must avoid any bets that give you absolutely no chance to win (in the long run) at all costs. What does that mean? Well, there are some things that no amount of research or insight knowledge can overcome, because they’re entirely down to luck. The most obvious example of this is a Super Bowl prop that rolls around every year: betting on the coin toss. In the long run, you’re never going to do better (or worse) than 50% on this bet. A casino or sportsbook offering this bet at -110, -105 or even -101 can count on making a long term profit. Another type of bet is one with very vague terminology as to what constitutes a win or a loss. Granted, the biggest bookmakers won’t usually spread prop bets that aren’t clear, but when they do, you can be sure they’ll interpret those bets to their advantage. Make sure you understand exactly what you’re betting on before you bet.
One great way to gain an advantage is to bet on things you know well. Some people might not consider these prop bets, but betting on entertainment events like the Oscars or political elections can often be very profitable. Bookmakers often give odds that are way too generous on favorites, especially in politics, where races are very rarely “too close to call,” even if they are being hyped as such in the weeks before Election Day. For knowledgeable bettors, these kinds of bets can be huge moneymakers.
Finally, prop bets are subject to the same golden rule as all bets: do your research! If an oddball prop bet looks promising, look into it some more. If you see a bet that asks you if a quarterback will throw more touchdown passes than the number of goals scored in an English soccer game on the same day, don’t just throw up your hands and guess; instead, find out how many goals the teams involved are scoring on average (this information isn’t hard to find, even if you aren’t a fan of the sport), and figure how many touchdown passes you expect, and only then figure out if there’s a side of that bet with a big edge. Research pays off even more in prop betting than normal, because it’s sometimes apparent that the sports books didn’t do the research needed to set a tough line, and there’s easy money to be made by betting on one side or the other.
You shouldn’t expect to make a living off of prop bets, but that doesn’t mean that they’re only for fun. By figuring out where the bookmakers have been lazy and doing your research, you can find prop bets that give you some of the biggest advantages available in a sportsbook.
