Sports betting is a vast and complex industry, with many ways to bet on sporting events. However, one type of bet that has become increasingly popular in recent years is the prop bet.
In just 3-years, legal sports betting in the US has gone from an industry worth $4.2 billion to over $12 billion. And it’s estimated that by 2023, that number could grow to as much as $26.6 billion.
This growth can be attributed to the rise in popularity of prop bets. So, what are prop bets? And what are the best ones to make?
What Are Prop Bets?
A prop bet is a wager on an event that isn’t directly related to the outcome of a game. For example, you could bet on whether or not a particular player will score a touchdown in a football game.
Prop bets can be placed on all sorts of different events and outcomes. The sky is the limit when it comes to prop bets. Here are a few examples:
How many points will LeBron James score in a game?Will Phil Mickelson make a hole-in-one during the Masters?How long will it take Lady Gaga to sing the National Anthem at the Super Bowl?Which team will score the first touchdown in the Super Bowl?
As you can see, prop bets can be placed on just about anything, making them so fun!
So, Which Sports Can You Place Prop Bets On?
You can place prop bets on just about any sport imaginable. The most popular sports for prop betting are football, basketball, baseball, and hockey. However, you can also find prop bets for golf, tennis, boxing, mixed martial arts (MMA), and more.
MLB Parlay Prop Bet
What Are the Best Prop Bets to Make?
Now that you know what prop bets are and which sports you can bet on let’s take a look at some of the best prop bets to make.
1. Super Bowl Coin Toss Bet
The coin toss is one of the most popular prop bets during the Super Bowl. And it’s also one of the easiest to win! The odds are usually around 50/50, so your chances of winning are pretty good.
2. NFL MVP Betting
One of the most popular bets to make during the NFL season is who will be named MVP. This is a great bet because it gives you something to root for all season long!
3. NBA 3-Point Contest Betting
The NBA 3-point contest is always a fun event to watch. And it’s also a great event to bet on! So you can usually find some good odds on who will win the contest.
4. MLB Home Run Derby Betting
The MLB Home Run Derby is another fantastic event to bet on. The odds are usually pretty good, and it’s always exciting to see who will come out on top.
5. NHL Stanley Cup Betting
The NHL Stanley Cup is the most significant event in hockey. And it’s also one of the most popular prop bets to make. The odds are usually pretty good, so it’s a great bet.
These are just a few of the best prop bets to make. Remember, the sky is the limit when it comes to prop betting! So, don’t be afraid to get creative and have fun with it.
Essential Tips to Keep in Mind Before Placing a Prop Bet
Now that you know what prop bets are and some of the best ones to make, it’s time to learn a few essential tips to keep in mind before placing your next bet.
1. Do Your Research
This is essential for any betting type but especially important for prop bets. The reason is that prop bets often require more knowledge about the subject matter. So, be sure to research and know what you’re betting on before placing your bet.
2. Stay Within Your Budget
It’s straightforward to get carried away with prop betting. After all, they’re so much fun! But it’s important to stay within your budget and only bet what you can afford to lose.
3. Look for Promotional Codes and Bonuses
Many online sportsbooks offer promotional codes and bonuses for prop bets. So, be sure to take advantage of these offers! For example, the BetMGM Ohio bonus code can help you boost your bankroll and give you a better chance of winning.
4. Have Fun!
Prop betting is all about having fun. So, could you not take it too seriously? Just sit back, relax, and enjoy the ride.
With these tips in mind, you’re ready to start placing prop bets like a pro! Just remember always to gamble responsibly.
Prop bets are a great way to add excitement to any sporting event. And now that you know what they are and how to make them, you’re ready to start placing your bets. So, get out there and have some fun!