In this guide, we’ll take a closer look at Prop Bitcoin betting. We’ll explore its benefits for the bettors, and Placing prop bets at Bitcoin sportsbooks can be an incredibly fun way to get into your favorite sports. Unlike standard bets that zero in on the final score of a game or match, prop bets let you bet on specific moments, player actions, or even occurrences within the game itself.
In this guide, GOSUBETTING digs into making the most out of prop betting at Bitcoin sportsbooks. This covers everything from beginner tips to more sophisticated tactics (while underscoring) why using cryptocurrency for your bets could be very beneficial.
What is a Prop Bitcoin Bet?
A prop bet, short for proposition bet, is a bet that focuses on specific events or performances within a game rather than the overall outcome. Unlike traditional bets like the point spread, total, or moneyline, prop bets allow you to bet on individual players or specific occurrences during a game.
For example, instead of betting on whether the Ravens or Patriots will win, a prop bet might involve wagering on “How many passing yards will Lamar Jackson accumulate?” The options for this bet would typically be Over or Under a predetermined total. Prop bets are available across nearly every major sport and are typically placed before the game begins, similar to standard game wagers.
Prop Bitcoin Bet Examples
The great thing about Prop bets is the fact that they cover a wide range of possibilities, from straightforward player performances to more unconventional outcomes. Here are 4 common types of prop bets you’ll find at GOUSBETTING recommended Bitcoin sportsbooks:
Player Props
Player props are bets on how a specific player will perform in a game. These bets often involve a total with an “Over” or “Under” option. For example, you might bet on how many touchdowns an NFL quarterback will throw in a single game or how many assists a point guard will record in an NBA matchup.
Game Props
Just like player props target individual performances, game props revolve around happenings that involve teams. A game prop might be as simple as choosing which MLB team you think will score first or if the Dallas Cowboys and Philadelphia Eagles will total Over or Under a specified passing yards figure. Similar to player props, game props may include Over/Under bets but also can have a ‘Yes/No’ proposition e.g., ‘Will either of the teams score no goals in this NHL match?’
Team Props
Team props are similar to game props but with a key difference: you’re betting on the performance of just one team rather than both. Crypto bettors might choose a team prop over a game prop if their research highlights a specific advantage for one team. For example, if Team A leads the NFL in sacks and is playing against Team B, whose offensive line is weak, you might bet on Team A to go Over 2.5 sacks rather than betting on both teams to exceed a combined total of 4.5 sacks.
Another reason to prefer team props is if you want to focus on your favorite team without needing the opposition to perform well. For instance, if you’re a Chicago Cubs fan and they’re playing against the St. Louis Cardinals, instead of betting on both teams to score Over 8.5 runs (a game prop), you could bet on the Cubs alone to score Over 4.5 runs (a team prop).
Novelty Props
Novelty props are, basically, where betting really starts to get creative and, frankly, pretty thrilling. These bets typically pop up around big sporting events like the Super Bowl and usually have almost nothing to do with the actual game itself. Instead, they zoom in on unique and rather offbeat markets, like how the coin toss will land or what might happen during the halftime show, and include a whole bunch of quirky options in between.
For instance, some popular Super Bowl novelty props include predicting which color Gatorade is going to be poured over the winning coach’s head, guessing which coach is that one who will call for a timeout first, or placing bets on how long someone might take to sing the National Anthem. One of those particularly odd novelty props you’ll see annually at certain offshore sportsbooks involves betting on whether there will be a streaker running onto the field…
It’s worth noting that when it comes to novelty props, Bitcoin sportsbooks often set lower betting limits compared to standard prop bets. This means the amount of Bitcoin or cryptocurrency you can bet on these markets is typically smaller, reflecting the unpredictable and entertaining nature of these bets.
Advantages and Disadvantages of Using Prop Bets
Bitcoin prop betting or proposition bets as it is also called, are widely regarded as being the most entertaining form of Bitcoin betting, especially as they offer a great change from the usual betting options. Below we will go through the major strengths and weaknesses of prop bets when using Cryptocurrencies such as Bitcoin at sports betting sites.
Prop Bitcoin Bet Advantages
Increased Engagement
Prop bets add an extra layer of excitement to sporting events, keeping Bitcoin bettors entertained throughout the game, even if the overall result seems predictable. They offer extra opportunities to stay involved, focusing on various aspects of the game beyond just the final score.
Diverse Betting Options
With prop bets, you can discover an extensive range of imaginative betting possibilities across popular sports. These bets let you delve into various aspects of a match or event in ways that typical betting options often don’t provide.
Chance for Bigger Rewards
Prop bets usually come with better odds and higher payouts compared to regular bets. Since they focus on particular, sometimes unforeseen events within a game, guessing the outcomes correctly can result in considerable earnings. For those who place their bets using Bitcoin, this translates to potentially large gains on your cryptocurrency investment.
Skill-Based Betting
Many prop bets require a deeper understanding of the sport or event, as they involve analyzing specific player performances, team dynamics, or other factors. This can be an advantage for knowledgeable Bitcoin bettors who enjoy using their expertise.
Extended Entertainment Value
Prop bets can significantly increase your level of enjoyment of a sporting event by giving you a deeper interest in specific outcomes or performances beyond the final result. This added layer of entertainment makes watching games or events a lot more exciting.
Prop Bitcoin Bet Disadvantages
Higher Unpredictability
While the potential for high payouts is appealing, prop bets are more unpredictable than traditional bets. They depend on specific occurrences or performances that are often influenced by uncontrollable factors, making it harder to predict outcomes.
Limited Information and Research
Prop bets usually have less readily available information and statistical data compared to traditional bets. Bitcoin bettors may need to rely more on intuition, personal knowledge, or the limited information provided by crypto sportsbooks, which can make it difficult to make fully informed decisions.
Higher House Edge
Due to the complexity and unpredictability of prop bets, Bitcoin sportsbooks usually maintain a higher house edge on these bets. This means the odds and potential payouts might not be as good as those in traditional betting markets.
Limited Availability
Prop bets are not available for every sporting event or occasion. Usually, Bitcoin sportsbooks offer prop bets only for high-profile events or specific markets, which can limit your betting options if you prefer these types of bets.
Emotional Biases and Distractions
The focus on specific events or performances in prop betting with Bitcoin can sometimes lead to emotional biases. Bitcoin bettors might become overly fixated on a particular player or outcome, which could cloud their judgment and lead to less rational betting decisions.
While prop bets offer exciting opportunities and the potential for high rewards, they also come with increased risks and challenges. For bettors using Bitcoin or other cryptocurrencies, these pros and cons should be carefully weighed to make the most of your Bitcoin betting experience.
How to Read Prop Bet Odds
Prop bets at Bitcoin sportsbooks use the same format as other major bet types like money lines, point spreads, and totals. These odds are represented by positive and negative numbers, indicating how much you can win.
- Positive Odds: These show how much you would win for every $100 in Bitcoin bet. For example, if you bet on a quarterback to throw over 2.5 touchdowns in a game at +145 odds and he succeeds, a $100 Bitcoin bet would yield a total payout of $245 in Bitcoin – your first $100 wager plus $145 in winnings.
- Negative Odds: These indicate how much you need to bet to win $100 in Bitcoin. For example, if you bet on a player scoring less than 15.5 points in a basketball game at -135 odds, you’d need to wager $135 in Bitcoin to win $100.
Remember, you don’t have to stick to these exact amounts. Your payout will be adjusted proportionally based on the size of your wager when you finalize your bet slip, whether you’re betting with fiat or Bitcoin.
Bitcoin Sportsbook Rules for Prop Bets
Before placing any bet, it’s really important to thoroughly review the Bitcoin sportsbook’s terms and conditions. This is where you’ll find all the rules for each type of bet, including prop bets.
While most crypto sportsbooks have similar guidelines, there can be small differences in how they handle specific situations, which could affect your bets. A common rule at most Bitcoin sportsbooks involves player prop bets. If you place a bet on a player who ends up not participating in the game, the sportsbook will typically void the bet and refund your bet.
However, if the player takes part in the game, even for a single play, the bet usually stands. To avoid any surprises, we strongly recommend reading through the terms and conditions before placing your bets, especially when betting with Bitcoin or other cryptocurrencies.
What to Watch Out for When Betting Propositions
Prop betting is a great way to add some excitement to your Bitcoin betting experience and capitalize on specific game dynamics. However, it does require a deeper understanding of players, matchups, and game strategies. It’s easy to fall into the trap of thinking a bet is a sure thing, but prop bets often require careful research.
For example, you might assume that a player like Giannis Antetokounmpo will dominate against a weaker defense like the Phoenix Suns. However, the Suns may have a history of containing him effectively. Also, factors like missing players can influence the outcome in unexpected ways. Most prop bets are set with equal odds for both outcomes), suggesting that the outcomes are equally likely, making it important to do your homework before placing your bet.
Having a solid opinion on the overall outcome of the game can also help you make smarter prop bets. Whether you’re betting with Bitcoin or other cryptocurrencies, careful consideration is key to successfully making use of prop betting.
Can I Make Prop Bets on Live Games?
Yes, you can absolutely make prop bets on live games. Live Bitcoin betting is one of the fastest-growing segments of crypto sports betting, and prop bets play a big role in the action. In-play prop bets allow you to bet on everything from who will score the next touchdown, to the outcome of the next drive, or even the result of the next play or at-bat.
This real-time betting adds a dynamic layer of excitement to watching live sports, especially when using Bitcoin at crypto sportsbooks where transactions are quick and seamless.
How Prop Bets Are Paid
Prop bets are paid out in a similar fashion to other types of bets. The payout is determined by the odds that are tied to the bet. For example, a typical line for a prop bet might be -110 for both sides, meaning you would need to bet $110 in Bitcoin to win $100 in profit.
If the odds are skewed, oddsmakers may adjust the lines accordingly. When placing prop bets on live events, keep in mind that the odds can change rapidly, highlighting the real-time nature of the game.
How Proposition Bets Differ from Future Bets
While both prop bets and futures bets involve outcomes not directly tied to the final score of a game, they have different purposes. Prop bets focus on the actions of individual players or specific events within a game, such as who will score the first touchdown.
On the other hand, futures bets are concerned with long-term outcomes, like predicting which team will win the World Series or who will be named NFL MVP. Each type of bet offers a unique way to enjoy sports, whether you’re interested in the immediate action or the bigger picture over a whole season.
10 Popular Prop Bitcoin Betting Sports
These sports offer great opportunities for prop betting, and with the flexibility of cryptocurrencies, Bitcoin bettors can enjoy these markets quickly and securely across a wide range of sports betting sites.
American Football (NFL)
The NFL offers a wealth of prop betting opportunities, from individual player performance (e.g. passing yards, touchdowns) to in-game events (e.g. the outcome of the first drive, total field goals). The complexity and popularity of the sport make it a prime candidate for diverse prop markets.
- Popular Prop Bets: Player props, team props, and novelty props.
Basketball (NBA)
The fast-paced nature of basketball and the significant impact of individual players provide many prop betting options. Bitcoin bettors can bet on everything from total points, rebounds, and assists by a player to the number of three-pointers made by a team.
- Popular Prop Bets: Player props, team props, and game props.
Football (Soccer)
Football’s global appeal and strategic nature lead to a few different prop betting markets. Crypto bettors can place bets on individual player performances, team-specific events, and in-game occurrences like the timing of goals or the number of yellow cards.
- Popular Prop Bets: Goal scorer props, team props, and match events.
Tennis
Tennis is ideal for prop bets because of its point-by-point and game-by-game structure. Bitcoin bettors can bet on specific outcomes within each match, like, the number of aces served, the winner of the next set, or the total games played.
- Popular Prop Bets: Set props, player props, and match duration.
Baseball (MLB)
Baseball’s statistical nature makes it a haven for prop betting with Bitcoin. Cryptocurrency bettors can bet on individual player achievements like – total home runs and strikeouts or game-specific events like – total runs scored in an inning.
- Popular Prop Bets: Player props, game props, and inning-specific outcomes.
Boxing and MMA
Combat sports like boxing and MMA offer straightforward outcomes but great prop betting opportunities. Bettors can place bets on how the victory will happen, the round in which a fight will end, or whether the fight will go the distance.
- Popular Prop Bets: Method of victory, round betting, and over/under on total rounds.
Golf
When thinking of Golf Bitcoin Betting, keep in mind that Golf’s tournament structure allows for various prop bets on both the players and event outcomes. Bitcoin bettors can bet on specific round scores, the performance of players, or whether a hole-in-one will happen.
- Popular Prop Bets: Player props, round-specific props, and tournament props.
Esports
The quick growth of esports has led to a variety of prop betting markets. Bitcoin bettors can bet on in-game events such as the first team to achieve a specific objective, player stats, or the duration of the match.
- Popular Prop Bets: First blood (first kill), total kills by a player, and match duration.
Hockey (NHL)
Hockey offers many prop betting options because of its fast-paced nature and the significance of key plays like goals, penalties, and saves. Cryptocurrency bettors can bet on player-specific achievements, team events, or even the number of penalties in a game.
- Popular Prop Bets: Player props, team props, and period-specific outcomes.
Cricket
Cricket’s diverse formats and in-depth statistical nature make it perfect for prop bets. Bitcoin bettors can place bets on single player performances, like total runs scored or wickets taken, as well as team events like the highest opening partnership.
- Popular Prop Bets: Player props, match events, and team totals.
Where Can You Make a Proposition Bet?
Most major Bitcoin sportsbooks now offer a wide range of prop bets across various sports. At GOSUBETTING, we carefully review and recommend the top crypto-friendly sportsbooks that provide bettors with a secure, easy-to-use platform that has great bonuses and diverse betting options, including prop bets.
After you’ve made your choice, head to one of our GOSUBETTING recommended crypto sportsbooks to find the best odds and prop bet opportunities, for the most value from your bets.
GOSUBETTING’S Summary
Prop betting with Bitcoin and other cryptocurrencies offers you an exciting way to interact with all your favorite sports. Whether you’re betting on player performances or specific events that happen within the game, prop bets allow you to dive deeper into the action, making every moment of the game more exciting.
With the added flexibility and speed of cryptocurrency transactions, betting on props at GOSUBETTING Bitcoin sportsbooks takes the experience even further.
It’s important to approach prop betting with a good strategy in mind, balancing the fun bets with the potential long-term success of skilled betting. As always, understanding the rules and odds, and doing your research, are key to making the most of your prop betting adventures.
Frequently Asked Questions
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What is a prop bet?
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Can I place prop bets using Bitcoin?
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How do prop bet odds work?
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Are prop bets available for live games?
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What’s the difference between prop bets and futures bets?
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Are there limits on how much I can bet on prop bets?
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Can prop bets be part of a long-term betting strategy?
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What should I consider when placing prop bets?
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Do prop bets have higher odds than standard bets?
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Where can I find the best sportsbooks for prop bets?