Prop Betting Strategy
In online sports betting, when a bettor bet his wager on anything but totals, point spreads, or moneyline, then, such a bettor is using the prop betting strategy. This is one of those betting strategies where bettors have an ample opportunity to beat bookmakers at their game. Bookmakers often make less on props; they lose more – you will understand why in this article. Prop betting strategy brings in more fun for bettors and create more avenue to make a profit and win money on bets. The reason is that it has great flexibility on what bettors bet or gamble on.
- It’s very popular in football betting, especially NFL
- Bookmakers and online sports betting sites often lose money on propbet
- It’s a wager that is made on anything not moneyline, total, or point spread
- Propbet often happen during a game or sports event and usually not after
- Most popular example is “which team scores first?”
Prop Betting Strategy Explained
In prop betting strategy, there is this elasticity and flexibility in the aspect of a game or sports event that bettors can bet on. Things and outcomes that aren’t even that obvious or attention-seeking. Take for instance, with the privilege of prop betting, a bettor can say he wants to bet on:
- Whether or not one of the teams will score in the first six minutes that the game start;
- Whether or not each of the teams playing will score two unanswered times;
- Whether or not a favorite player will throw an interception.
The truth is that bookmakers and online sports betting sites often have less time and resources to work out bet odds for all these kinds of scenarios. Thus, it creates an ample opportunity for smart bettors to make the best of it and maximize profit from the propbet.
Let’s try and coin out a definition for prop – short for Proposition betting system:
Prop betting strategy is a form of betting where bettor places wager on anything that is not moneyline, totals, or point spread.
Prop bet: A bit of History
Props, often referred to as Propositions, has a bit of history to it. Before props grew to become one of the notable sports bets that now features in top sports betting markets like NFL football, it started small, somewhere. Prop bet can be traced to the world of Las Vegas sportsbooks. Originally in the earliest phase of its inception, it was invented as novelty wagers basically for bettors to place a wager in Super Bowl. In recent times, the popularity and usage of prop bet have grown far beyond the whims of Super Bowl and NFL. It has found a suitable place for itself in major sports markets around the world as far as sports betting goes.
Recall our explanation on betting game totals and point spread and how you can maximize profit from your bets. check out our article on Teaser Betting Strategy for more details.
Prop bet: Not Bookmakers’ Favorite
We mentioned earlier that prop betting is one of those grey areas that bookmakers and online sports betting sites often like to stay clear off or make fewer offers. Let’s explain why in a very succinct but clear manner:
Online sports betting sites and bookmakers rake in a huge amount of money in millions of dollars on bets and wagers that bettors make on moneyline, game totals, and point spreads.
In the regular NFL season – football enthusiasts can confirm the validity of this – there is nothing less than thirteen games (sometimes sixteenth) that are played per weekend. This translates to huge opportunities and avenues for bookmakers and sports betting sites to make a huge amount of money in profits on bets made on these NFL football games.
Now, propbet doesn’t really catch that much attention. It is a rather small market for which bookmakers and sports betting sites mostly offer it to retain their customers – it’s more like a novelty wager.
There arises the need for bookmakers and sports betting sites to create for hundreds of these prop bet, lines that bettors make their bets against.
This often results in bookmakers and sport betting sites using some less complicated formula – something simple like creating lines by weighing stats of a team to league averages.
Reactionary, bookmakers and sports betting sites can then put some limits to prop bet as maximum bet and they adjust their lines as things unfold. The baseline – the moral of the story if you will – is that the whole prop bet thing doesn’t really get the good attention part of bookmakers and sports betting sites.
Smart bettors already know how this interprets. It’s simply a huge opportunity to maximize profit.
Prop Betting Strategy: Example
Let’s spice things up with some examples. Now, the way a prop bet is configured, they are guesses and hypotheses that bettors make while the game or sports event breathe. Consider this example:
A bettor has decided to have some fun and betting on which team will first score in a game. The bet odds offered by the sports betting site are as follows:
Team A: -130
Team B: -110
In prop betting, this is often referred to as a team prop. For a player prop, that is often centered on other players. Consider this:
Total receiving yards for Marvin Jones
Under 80.0 yards: -110
Over 80.0 yards: -110
One interesting fact about prop betting strategy is that the offering limit of prop is relatively endless. It depends on the imagination of the party making odds. For example, in terms of stats, wide receivers of the same NFL football teams can be pitched against each other. They don’t even have to be playing the same game for this to happen.
Prop betting has to do with any given aspect of a game or sports event, either before the start of the game, while the game is ongoing, or at halftime, etc. It’s that interesting.
Why you should choose Prop Betting Strategy
For those who are already piecing it together as far as props betting goes, you will understand that bookmakers and betting sites don’t really get to set their best attention to managing the odds that come with props bet. Consequently, because bookmakers and betting sites offering these odds for props are smart, they put some restrictions to props like the maximum bet restriction. This often makes props anything but first choice for pro bettors and experienced ones. This is a huge advantage to consider props:
- When talking props, there is this characteristic feature of large bet odds differentials. This has been considered one of the inefficiencies in prop bets. There is a relatively wide difference and gap in odds offered by sportsbooks in props market.
- As a result of this, some bookmakers often come up slow in moving their props as keeping eyes on every proposition becomes relatively tasking. In fact, some bookmakers and betting sites don’t even move their props at all.
- There is also a big, huge possibility for some staggering differences in props bet pricing, giving that these propositions are conceived from oddsmakers’ mind.
- Giving the relatively small size of props market compared to totals, point spreads, and moneyline, it makes sense that bookmakers and betting sites hardly devote less resources to creating accurate line.
- The implication of all these for smart bettors is that it creates huge opportunity for profit maximization as it makes props hugely profitable, potentially.
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