In the world of sports betting, the types of bets that are available span across a huge variety. From accumulator bets to Yankee bets, the range of bets in the modern day is massive. One type of bet that users are able to take advantage of is the Prop Bet, also known as a Proposition bet, which allows bettors to place certain types of bets in the middle of an event or sports game. Unlike most traditional sports events, these types of bets do not rely on the outcome of the match. With the term being most popular in the US, here we will discuss what types of bets are prop bets and how they can be used in a matched betting strategy.
Different Types of Prop Bets
As previously mentioned, prop bets do not normally relate to the outcome of the sporting event; they tend to focus more on specific events happening within the game or fixture. The most common markets for this type of bet are player props and team props, with some bookies even offering prop bets, such as how long the national anthem will last at the Superbowl.
An example of a player prop could be the number of touchdowns a player scores, the number of assists someone makes in a basketball match or how many shots a player has on target in football. Meanwhile, team prop bets might be the winner of each half or the number of goals scored during the match. With the prop bet market spanning across different sports, we have lots of different sport-specific guides, such as our basketball betting guide and our cricket betting guide.
Despite these types of bets being extremely popular in America, plenty of bookmakers in the United Kingdom are known for having these player and team prop bets, especially in football betting. With prop betting becoming extremely popular in accumulator bets, bettors who are looking to use accumulators should use our accumulator calculator, which is available on-site.
Why Place Prop Bets?
Prop bets have plenty of different reasons why they should be placed and can make a useful addition to your betting strategy. First of all, they offer a nice alternative to standard betting, which usually relies on a result or an outcome. The vast markets available provide bettors with plenty of variety and fun, especially if they are not bothered about which team or player wins.
These prop bets can also reward bettors who use research and analysis with their bets; if bettors know that players or teams have certain tendencies during matches, they can use prop bets to bet on these certain outcomes. Placing bets on these props can also be easier to predict compared to predicting which team is going to win. This also links to the fact that if you are not confident about predicting the outcome of the match, then placing bets on these props can be worthwhile.
Finally, adding these types of bets to your betting strategy ensures that you have a flexible betting strategy, meaning users are able to accommodate all different betting scenarios with these prop bets. If you are looking to learn about more betting strategies, check out our matched betting blog.
Prop Betting In Matched Betting
As prop bets happen during the game, the standard matched betting techniques will not be able to be applied as these bets usually have less planning time and less time for bettors to place a lay bet before the odds might change. Most betting exchanges might not allow for users to place lay bets on these selections anyway.
However, bettors should still look for value when placing these bets and should still try to make the most of the bets. With the expected value calculator at OddsMonkey, users can quickly find out how worthwhile these bets are. Using this calculator hand in hand with research about the teams and players can give matched bettors the best chance at making a return.
Making the most of these types of bets and other bet types that you can learn about here at OddsMonkey is not only essential for bettors who are trying to enjoy their betting but also for matched bettors who are looking for all the different ways to make the most of their betting bankroll.
