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Despite many people looking to curb their everyday spending elsewhere, the UK gambling industry is going from strength to strength. By the end of 2023, online sports betting online is expected to generate revenues of more than £2.45 billion. What’s more, user penetration is forecast to be at nearly 15 million people by 2027. One of the biggest reasons for this upswing in activity is the advent of micro-betting. More specifically, it’s been the rise of prop bets that have breathed new life into the online sports betting market.
Prop bets, or proposition bets, are essentially special wagers that allow people to place bets on very specific outcomes. Some of these betting options are fairly traditional, such as how many times a team will score or which player will land the first and the first goal of a football match. Another traditional type of prop bet would be betting on the eventual winning side of a tournament. However, there’s a broader scope for props, with just about any aspect of a fixture fair game.
While microwagers like prop bets represent a relatively small slice of the gambling market, industry insiders expect this to change in the coming years. Recently, micro-betting has been embraced with enthusiasm in places like North America, with proposition bets offered across all five of the major sports leagues.
With online gambling appealing to broader demographics in the UK, don’t be too surprised if many first-time users choose to take a punt on props before exploring more traditional markets. This is even more likely if online sportsbooks decide to incentivise registration with free bets and other bookmaker promotions available on Oddspedia.com for new customers.
At first glance, micro betting doesn’t seem all that different from live or in-play betting. While live bets do allow punters to place wagers after a game or event has started, the range of bets available is rather limited. In most cases, there’s not too much of a departure from the types of wagers offered by traditional betting. With live betting, strict time frames are usually enforced, reducing the chance of a desirable result for those placing bets.
None of this can be said about micro betting. In theory, bets can be placed at any point during a game. What’s more, there’s no real limit on what can be wagered on. It’s this flexibility that makes micro betting such an attractive prospect for long-time wagerers and first-time gamblers alike.
Just like any type of wager, prop bets come with pros and cons. However, their benefits make them an irresistible prospect for anyone eager for some variety. If your favourite team is currently in the midst of a losing streak but you still want to show your support, props can be a potential solution. Remember, these wagers don’t hinge on the outcome of the game itself, so you can place one without betting against your team.
Furthermore, they’re a good choice for experienced gamblers with an in-depth knowledge of game mechanics. Player performance, injury statistics, and team rankings can all be used to help you make more informed decisions. Of course, all of this comes at a cost. With increased odds of your wager coming good, most operators keep betting limits on props relatively low. Nonetheless, props can be an exciting alternative for anyone looking to mix things up and explore new markets.