What Are Props Bets?
Props bets, short for proposition bets, are wagers that are not directly tied to the outcome of an event or game. This could be a player’s stats in a single game or a team’s achievements over the course of a season. Props can cover the wildest of scenarios, which is why they’re so much fun—and often profitable too.
At Bovada, we love to fill a page in our online sportsbook with all sorts of off-beat betting scenarios, especially for major events, like the Super Bowl. If you’re interested in diving into the world of props betting, you’re in the right spot. We’ll explain how they work and provide an in-depth explanation of how to read their odds.
How Do Props Bets Work?
There are tons of props bets available, but for the most part, they all work the same. It could be about a team making the playoffs at the end of the season, which would be a simple yes or no bet, with odds assigned to each betting option. It’s also possible to see a prop that has multiple athletes listed as betting options, such as league MVP winners.
The odds typically begin based on the probability of the outcome, but once the market opens, the odds can fluctuate to balance the action on both sides. Let’s take a look at some NFL props to get an idea of how they work.
NFL 2022/23 Awards & League Leaders: Regular Season MVP
Josh Allen +175
Patrick Mahomes +450
Lamar Jackson +500
This prop has many more betting options than the above three players, but this streamlined version is best for simplicity’s sake. For this props bet, you are wagering on who will be crowned the regular season MVP for the NFL 2022/23 season.
Josh Allen is the favorite in this scenario, as he has the lowest of the positive odds, which are displayed in American odds format. These positive odds show how much money you’d win on a $100 bet (original stake is also returned). If a $100 bet on Allen came through, the payout would be $175. If one on Mahomes came through, the payout would be $450 based on the odds above. You would also get your $100 back on top of these payouts too.
How To Place A Props Bet
Once logged in to your Bovada account, you can place props bets at your leisure and it’s just as easy as placing any other bet.
- If you don’t already have an account, sign up to Bovada Sportsbook.
- Head on over to our sports betting markets.
- Select the props bet you wish to place – choose multiple for a parlay.
- Enter the amount you want to wager in the bet slip that appears.
- Click ‘Place Bets’ to confirm your bet.
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Including props bets in your parlays will give you more excitement in your betting experience and, sometimes, higher odds for bigger wins. It’s a great way to test your sports knowledge and instincts beyond simply casting a vote on the winner of a matchup. Good luck with your picks and may they pay out when resolved. So that you can begin placing sports bets, such as props, moneylines, points and more, sign up to Bovada today. Once you have an account, you will finds tons of odds across all your favorite sports; football, basketball, baseball and more.