November 8, 2024
What Are Prop Bets?
Proposition bets, or as they are better known – prop bets, let players bet on specific outcomes or statistics of a player. Growing in popularity in the US over the past couple of years, the market for prop bets is quickly making its way across the Atlantic and Pacific Oceans to the four corners of the globe.
Player prop markets target specific player attributes. As prop bets don’t depend on the final game or competition result, this fresh approach provides an extra element of engagement and excitement to players and the chance to scoop an extra win despite the overall outcome of the fixture.
History & Types of Prop Bets
Like Bruce Springsteen, prop bets were born in the USA and developed mainly within popular American sports such as American football and basketball. The fast-paced nature of prop bets and the unique ways to interact with players’ favourite sports captured the interest of the American sports betting market. Prop bets began to appear in a wider variety of sports and non-sporting events. While still relatively fresh outside of the US, the rest of the world is gradually catching up to the appeal of prop bets.
Prop bets generally fall into several categories:
Prop bets range from ‘Player to Score First Touchdown’ in the NFL to ‘Total Corners Taken’ in a football match and everything in between. Prop bets allow bettors to follow the action closely and use their knowledge of individual athletes, teams, and competitions to wager on specific outcomes.
Why People Enjoy Prop Bets
Prop bets are popular because of their flexibility and engaging nature. Sports fans can test their knowledge of sports statistics, player performance, or even quirky game moments for an engaging, personalised experience. Prop bets aren’t just for experienced players either; their adaptability means new bettors can flexibly try different types of bets. Half the fun is learning and using players’ knowledge of player stats, game scenarios, and team performances to decide how to make their bet.
Fantasy Player Prop Bets: Merging Daily Fantasy & Prop Betting
The rapid growth of prop bets in the US triggered an exciting emerging trend that’s set to take the world by storm: fantasy player prop bets. This new game style brings together the best of daily fantasy sports and traditional prop betting. Unlike traditional prop bets, fantasy player prop bets are based solely on specific player performances in real time. Bettors choose from selected player-focused outcomes, wagering on whether certain athletes will surpass or fall short of performance metrics, such as goals or assists.
Low-Barrier Entry
Fantasy games, like Daily Fantasy Sports and Free-to-Play options, are increasingly being recognised as big boosters for online sportsbook operators. Fantasy prop bet products, such as WA.Fantasy’s Pick’Em, are a valuable product in all markets. The format doesn’t require extensive knowledge of complex odds, making it an accessible option for newcomers who simply need to predict ‘More’ or ‘Less’ on specific player stats. This simplicity helps operators increase their market penetration and customer acquisition as users adapt quickly to straightforward betting concepts.
Driving Engagement & Retention
Fantasy player prop bet products appeal to a vast range of players. The fantasy sports/player prop betting hybrid drives engagement and retention for operators because of players' ability to interact with their favourite sports in diverse ways. Sports such as football (soccer) have global appeal and a high volume of matches in various leagues and competitions, meaning players are never short of ways to interact with their favourite sports.
Cross-Selling & Brand Loyalty
Fantasy player prop bet games offer substantial cross-sell potential. Players remain active for longer due to the nature of how the competition works. This, in turn, allows players to enjoy related brand products, such as sportsbooks, virtual sports, or sports-based casino games. Player loyalty to a brand also increases through consistent interaction with the platform. Tailored gameplay options, like ‘All or Nothing’ or ‘Flex Play’ for player stats, enhance the overall betting experience.
Reduced Operational Complexity & Streamlined Markets
Unlike traditional sportsbooks, fantasy player prop bet games offer operators a streamlined selection of prop bet lines focused solely on individual player statistics. Operators can fine-tune their offerings around popular player metrics, allowing them to simplify their betting lineup while capturing fan interest. The targeted approach reduces the operational complexity of handling multiple bet types while simultaneously boosting revenue through a focused selection of popular options.
Wide Range of Sports & Player Markets
WA.Fantasy’s Pick’Em focuses on a variety of sports. Let’s take football (soccer) as an example of how it works.
Players take their pick from a selection of ‘Pick’Em Line’ choices. Bettors can place wagers on the number of goals a footballer might score or the assists a player might achieve within a certain game. Players select either ‘More’ or ‘Less’ for each option.
For example:
Players can choose between two and six selections and then decide between ‘All or Nothing’ or ‘Flex Play’ (flexible play). It’s as simple as that.
It’s this perfect simplicity that has captured the attention of the growing number of fans worldwide, and it’s for this reason that more and more operators are choosing this adaptable game style. Operators can tailor their Pick’Em to suit their market and demographic, making it a unique iGaming option and a versatile and widely appealing choice for players and operators.
Flexible Gameplay Options for Diverse Audiences
WA.Fantasy’s Pick’Em offers two distinct gameplay modes that cater to a variety of betting preferences. The 'All or Nothing' mode invites players to make precise predictions for higher payouts if all choices are correct. Conversely, in ‘Flex Play’ mode, players have room for error, allowing them to still get a win (albeit a smaller amount) even if some choices are incorrect.
'All or Nothing' is challenging and exciting and attracts players seeking a high-stakes experience looking to test their expertise in the sport, whereas the ‘Flex Play’ mode appeals to players seeking lower-risk bets with more chance of taking home a payout.
This double-game style strategy means all bases are covered, making it ideal for retaining a wide range of players, from those seeking high volatility to those preferring cautious, strategic gameplay.
Intuitive Betting Mechanics with Broad Appeal
Pick’Em’s straightforward mechanics of ‘More’ or ‘Less’ are based on real-time player stats such as goals, assists, and shots. The merged style of simple prop betting with familiar player statistics appeals to fantasy sports enthusiasts seeking data-driven action and traditional bettors looking for quick sports-based betting fun. The format is an easy-to-navigate entry point for beginners of fantasy sports, yet engaging enough for seasoned bettors, reaching a broader audience and making it especially useful in new markets.
High-Margin Product with Engagement-Driven Rewards
WA.Fantasy Pick’Em attracts users and keeps them engaged through gamified rewards. Operators will soon be able to offer social sharing options for players to showcase their wins across social media platforms. These gamification and social gambling strategies generate organic exposure and boost brand visibility. As Pick’Em is constantly being upgraded, there will soon be ample opportunity to increase loyalty further with promotions, free bets, and entry into exclusive events, incentivising users to actively share their positive experiences.
Seamless Back-End Integration & Real-Time Updates
WA.Fantasy’s Pick’Em integrates seamlessly with back-office systems, giving operators real-time data on player performance and wager outcomes. Thanks to the back-end infrastructure, prop betting lines are automatically updated before matches to reflect the most accurate odds and statistics. The streamlined management process benefits operators with the ability to tweak and tailor their products and monitor and handle wagers and payouts effectively and safely.
WA.Fantasy Pick’Em provides operators with an appealing, intuitive, and versatile iGaming option. Combining daily fantasy sports mechanics with prop betting simplicity attracts new and experienced players, driving acquisition, engagement, and retention and extending brand visibility.
In established and emerging markets, WA.Fantasy Pick’Em offers an engaging betting experience that capitalises on local sports culture while supporting operational efficiency and market adaptability. WA.Fantasy Pick’Em provides an ideal solution for integrating a new and exciting popular betting style into iGaming brands.
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