We don't think there is one best strategy for prop betting (or everyone would be doing it), but here is how we go about picking our bets. We research each betting option individually by looking at player trends and averages on Yahoo. If there are recent averages and trends that make the number available look good, we'll usually dive in. For the Eli Manning prop bet below we arbitrarily chose to look at how many yards he's run for in the three playoff games the Giants have won and for the last four games of the season.
ELI MANNING (NYG) FIRST RUSHING ATTEMPT
**(If No Rush Attempt-Under is the winner)
OVER 1.5 -110
UNDER 1.5 -110
There is a little too much variance in this bet for our liking so we'll pass. We'll repeat this process a few hundred more times to come up with a handful of opportunities we think make sense. Minimum prop wagers at most casinos are only $5 each. Last night, we learned that LVH raised their minimum prop wager to $10, presumably to cover costs incurred by the lack of a licensing fee from Hilton. (Thanks, @mitzula) We're not sure how much the minimums are at every casino so check with the sportsbook before doing anything.
Prop bets are just another way we can make the Big Game fun. We like to spread out a handful of prop bets across the game that will not only keep us paying attention to the action on TV, but also to the stats on our iPhone.
This probably goes without needing to be said, but the research model above isn't a recommendation on a certain way to wager. It's just an example of how we like to come to solutions for our prop wagers.
What strategy do you use for prop bets?



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