Aside from betting itself, part of the fun is in the combination of different wagers, known as parlay betting.
Did you know you can also make a parlay wager on prop bets? It makes betting props, which are already as exciting as they can get on their own, even more potentially profitable. A question we often hear is, can you parlay prop bets?
Whether you opt for a straight moneyline bet or wager on who will cover the spread in a game or make a parlay hoping for a better payout, the point is for you to have fun while doing it. Parlays can be risky, and so can prop bets. Remember only to gamble what we can afford to lose!
Prop Bets Explained
A prop bet, or a proposition bet, is a type of bet that relies on a result other than the game's final outcome. A prop bet is more about a specific event happening or not. It can be something at the start of the game, in the middle of it, or by its end. It is similar to future bets, but props are wagers on short-term events such as a game's MVP. It is also possible to add future bets to your parlay builder along with prop bets.
Some examples of a prop bet include:
- Can a specific player score a touchdown in the first 15 minutes?
- Will a specific player hit a home run?
- How many three-point shots a specific player can score?
- Can a player throw more than 350 yards in this game?
Prop bets not only allow for conditionals and specific events within the game, but also random occurrences that are not technically part of the game. Some other prop bets might consist of:
- Coin toss result
- Color of the Super Bowl Gatorade bath
- The length of the National Anthem for the Super Bowl (an over/under prop bet)
Profitable Parlay Prop Bets Tips
Here are some profitable tips on how you can make parlay bets.
Catch the Latest Sports News
Keep in mind that while prop bets do not rely on the game's final outcome, they still involve many critical factors. For example, a prop bet on whether Tom Brady can throw a specific number of yards would mean he needs to play and be in good condition. Now, this may not be possible if he is either injured, put on break, or somehow won't be able to make the game all of a sudden. Even the weather is something you should continually be aware of.
How would you stay updated with all of this information? Through sports news. Make sure you stay in the loop for whatever team or player developments may happen. News of injuries, the sudden withdrawal of participation, and all other updates that can affect the setup of a game and lessen the likelihood of certain things happening are worth keeping tabs on.
Lessen Your Risk on Parlay Prop Bets
Always try to lessen your risks even when making parlay wagers on your prop bets.
For one, bet on lesser teams than punters usually do. Instead of making seven-leg parlays, try not to go over four teams. This may not be as profitable as a seven-leg parlay, but it is a balance between profit potential and risk management.
Although it may be tempting not to miss out on a more or less $1,000 payout for a seven-leg parlay, the truth is that the odds of you winning all those legs get slimmer and slimmer the more teams you bet on. Thus, go with betting for lesser teams as the chances of you winning all those legs are more likely. Go for three to four legs instead. 3 team parlay payouts are substantially valuable given their return and risk factor. Even a two-leg parlay has a good return considering the risks.
Use Sportsbook Bonuses
Another way of lessening risks in making parlay prop bets is by leveraging the bonuses you receive from your sportsbooks. Most bookies offer new and existing punters bonuses on their platform - from a welcome bonus, a first deposit bonus, smaller deposit bonuses, and even random bonuses for just staying on your bookie.
Most of the time, these bonuses come with strict wagering requirements, which will have you either play specific times or wage rate free play/credit for a particular gross amount. Still, free play is a free play and a chance to make money with significantly lesser risk than when you would wager fully with your money.
As with all types of betting, always make parlay prop bets in moderation, and avoid going all-in on something as volatile as prop bets. Most importantly, don't forget to have fun while doing all thee!
This article was published on March 6, 2022, and last updated on September 14, 2022.