What is a prop bet? It is a type of sports wager that’s popular across the globe. Also, it has become more popular in recent months after the legalization of sports betting in some states. Prop betting is constantly evolving as regulators open new types of opportunities for bookies.
Some proposition bets are like futures bets. However, the former is a bet on an individual player or event within the game. Futures often predict the winner of a tournament. Most prop bets are on a single player and not the whole team for a certain game.
For instance, pay per head providers might accept wagers for who will make the first touchdown in a Super Bowl game. Players from both teams will have individual odds. If the player has a +650 odds, a $10 bet will win $65 and the other props will lose.
What is a Prop Bet – The Origins
Prop bets became popular in the US with the Super Bowl. The first bookie in Las Vegas that offered a large number of prop bets for a single game is Las Vegas SuperBook at the Las Vegas Hilton.
At present, software sportsbook providers include prop betting in their features. Also, some pay per head bookie solutions allow players to make prop bets on their own. It is the next evolution of prop betting in the sports wagering industry.
Friends often make a prop bet among themselves. They bet for random activities such as drinking beers in a certain time limit. By allowing them to make their own prop bets, players can offer their wagers to friends who might not be living in the same city.
Aside from sports, bookies also offer prop bets for non-game events including yearly award winners, major sports drafts, and more. Some bookies even make prop bets on non-sports events. However, some regulators limit prop betting to sports.
Often, fans look for exotic prop bets, such as the result of the coin toss in the Super Bowl. Also, some bookies bet on the length of the national anthem. Now you know the meaning of prop bet. Go out and place your wager on one today.