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A prop or proposition bet is a wager with 2 or more outcomes that are not directly related to the final score of an event. One notable characteristic of props is that they are rarely allowed to be placed in any type of combo bet. Bets such as these are also called exotics. Most featured props are usually single bets only

For example, a bet on how many yards Peyton Manning will throw in his next game: less than 100; 101-150; 151-200; 201-250; 251-300 or 300+. There will be posted odds for each outcome.

A common entry in Prop Bets is a Field entry. This is a catch-all category for any competitor not specifically listed in the prop, but is competing in the event.

For example, a prop on a PGA event might list odds for the best 30 players: Tiger Woods 1/1, David Duval 5/1, etc. As PGA events often have 75 or more competitors, the other 45+ players that do not have odds posted individually would be listed indirectly as part of the Field. If any of the players in the Field win, the Field would be declared the winner for wagering purposes.

Payouts

Payouts for a proposition bet will depend on the odds given by the house for each bet you have placed. The type of wager, whether the bet is a moneyline, multiplier, or basic odds, will dictate your payout accordingly.

To calculate a payout, simply translate the odds (a moneyline such as -110, -180, +140 etc., or fixed odds such as 3/1) to a multiplier (the Payoff Price plus one). Take the multiplier and multiply this by your bet to determine your Payout or Win Amount (Payoff Price plus your original bet).