When you start betting the prop bet (short for proposition betting) will be one of the first things you'll see and hear about. In it essence, the prop bet is a wager made on any sporting event that is not a straight bet or parlay. It is also often referred to as exotic wager.
Some of the more popular prop bets will be on a player or the event itself. A lot of online sportsbooks offer proposition bets, giving the player an extra market for wagering on their favorite sport. For example, a sportsbook may offer a prop bet on which player will score the first touchdown during a football game or which team will get the first flag. As you can see, the exotic wagers are quite different from the usual straight bets, like money line or point spread, hence the name.
Prop betting also became popular with the online sportsbooks when they started to offer wagers on political and entertainment events. All bets on those markets are indeed prop bets. A general rule of thumb is that the prop bets carry a much smaller betting limit as compared to the straight wagers.
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