Prop bets provide a compelling alternative to traditional moneyline, spread, and totals wagering. They offer a more granular engagement with the game and allow for an immersive experience that elevates sports betting into a captivating pastime.
But not all proposition bets are created equal. Some require a level of skill, while others are fun and exotic.
1. Parlay Bets
A parlay is a single wager that combines two or more bets into one larger bet with a higher payout. You can place a parlay on any type of bet, including moneylines, point spreads, over/unders, and player props. But the oddsmakers set their payouts according to probability, meaning that each individual leg must win in order for your entire parlay to pay out.
These correlated bets can lead to exhilarating victories and massive payoffs, especially if you’re confident in more than just one selection. But be careful – while you might see posts on social media from players cashing in 10+ leggers, these wins aren’t as common as they seem. The chances of winning a parlay are lower than a straight bet, and they increase as the number of teams added to the bet increases.
2. Futures
While conventional bets such as moneylines, spreads and totals are popular with the betting public, props can offer a more unique perspective on a game. This is especially true with player props, which transform individual players into a lucrative betting option.
For example, wagering on whether a certain player will have a big day can be just as exciting as betting on the winner of a game. This type of wager can even provide a substantial payout if the player reaches their goal.
Another way to add excitement to your betting experience is by placing futures bets. These speculative bets allow you to predict season-long outcomes such as division, conference and championship victors. However, they can also be riskier as factors such as injuries and mid-season trades can affect long-term odds.
3. Alternate Lines
Sportsbooks often offer alternative lines for point spreads and totals, giving you more wiggle room with your wagers. These different lines will have varying odds and payouts depending on how much they differ from the sportsbook’s original listing.
The main lines for a game can be competitive, but there are times when you want an even better shot at winning a bet. Alternate betting lines can help you do this by giving you a higher chance of winning at reduced risk or by increasing your payout potential.
For example, you might use an alternate total line to get below a key number in a close game. This strategy can work well if you believe a team will beat its opponent by a single score or if you believe the under is more likely to win.
4. Futures Futures
When betting on futures, the odds aren’t set to predict what will happen – rather, they represent the chance that something will be true. Throughout the season, these odds are altered by wins, losses, injuries, trades and other factors that influence team performance.
Those with an in-depth understanding of a sport can use the futures market to magnify relatively small price movements for profits. But beware of common pitfalls such as recency bias, which can lead to bettors placing too much emphasis on recent player performances and neglecting other important factors. Also be sure to line shop, as odds vary from book to book. This way, you can find the best possible return on your wager. Lastly, beware of taking on too much risk.
5. In-Game Betting
In-game props are a great way to spice up your wagering on a game. In addition to the traditional spread, money line and over/under options offered by sportsbooks, many leagues, especially those in the postseason, roll out a red carpet of betting options for customers.
These props are based on in-game events and often have payouts that seesaw between -110 and +115. While some props are based on luck, others can be made using knowledge and insights about players and teams. Some examples of these include player props such as how many rebounds a player will get and team-based props such as which side will win the coin toss or how long the national anthem will last. By staying updated on player news and trends, you can make informed decisions on these types of wagers.
