A proposition bet, commonly known as a prop bet, is a wager on minute aspects of the game that are often disconnected from the final score. Some of the most popular prop bets can seem frivolous: Will the coin toss be heads or tails? How long will the national anthem run? What color Gatorade will the winning coach be bathed in? Other prop bets are tied to the game, including who will be the MVP, who will score the first touchdown, and whether the combined final score will be over or under a certain number of points...
Props are usually the domain of sharps, or professional bettors, but “dumb money,” a less polite way to refer to recreational gamblers, dominates the market on Super Bowl Sunday. Bill Krackomberger, a veteran professional sports gambler, has been slowly getting six figures down on the Big Game over the last week through various prop bets. One of his last big prop wins came in June when he bet that Duke freshman Paolo Banchero would be the NBA’s first draft pick. He bet $10,000 and won $115,000. But Krackomberger doesn’t think that props are risky for the books. “I don’t buy it,” he says. “The public loves betting these and most don’t have a clue how to beat these types of bets.”
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The first prop bet, it is said, was created in January 1986 at Caesars Palace in Las Vegas before Super Bowl XX. Art Manderis, then the director of the sportsbook at Caesars, posted a wager at 20-to-1 odds that the charismatic Chicago Bears’ defensive lineman William “The Refrigerator” Perry would score a touchdown. The Fridge got his TD, many gamblers who took those odds won big, and Caesars took the loss.
But the prop bet has grown over the years to become a crucial way
sportsbooks increase their offerings, entice gamblers to spend more and
grow their bottom line. As Americans are expected to wager up to $16 billion on the game, many sportsbooks across the country derive more than half their handle off props. . .
Super Bowl LVII Prop Bets: Off the Field
• Heads or Tails: For bettors looking to gamble on the coin toss, heads and tails are both at –101 at Caesars. DraftKings is offering +100 for heads and tails.
• Gatorade Bath: What color will the winning team’s Gatorade be when the players pour it on the head coach? Yellow/Green is at +165, while purple is +750 at DraftKings.
• National Anthem Length: How long will it take country singer Chris Stapleton to sing the “Star Spangled Banner”? FanDuel set the over/under at 119.5 seconds.
• Halftime Show: What song will Rihanna sing last during her performance? “Diamonds” stands at –125 odds at FanDuel, while “We Found Love” is at +1,000.
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✓ Super Bowl mainstay State Farm for the second year in a row opted out of buying an ad in favor of a TikTok campaign, this time led by popular influencer Khaby Lame, that will combine paid and unpaid posts on the app. The central ad in the effort, which was released one week before the game, played on the idea that the insurance company doesn’t need to run a broadcast ad because it has naming rights on the game venue in Glendale, Ariz.
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“The big game came to us this year, and we knew early on we wanted to lean into our naming rights with State Farm Stadium,” said Kristyn Cook, State Farm’s senior vice president and chief agency, sales and marketing officer.
✓ The stakes are high for advertisers, as ever. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night.
Fox this week said it has sold out of advertising for its Super Bowl broadcast, with some 30-second slots selling for more than $7 million, according to a person familiar with the matter. Some ad slots sold for as low as $6 million, the person said, because some advertisers have multiyear deals and are big sports spenders, while average unit price was around $6.5 million per 30-second spot. Fox Corp. Chief Executive Lachlan Murdoch said on the company’s earnings call Wednesday that the company expects to gross $600 million in ad revenue from its Super Bowl coverage. Fox Corp. and Wall Street Journal parent News Corp share common ownership.
The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus.
"Alcohol is a newly competitive arena in the Super Bowl after Anheuser-Busch InBev gave up its long-running exclusive rights to promote the category in the game. Sunday’s telecast on Fox will include AB InBev commercials for Bud Light, Michelob Ultra and Busch Light, now joined by ads promoting Diageo PLC’s Crown Royal whisky, Rémy Cointreau Group ‘s Rémy Martin cognac and Heineken NV’s Heineken 0.0, which the company says is the first nonalcoholic beer to get a Super Bowl appearance.
Miller Lite and Coors Light owner Molson Coors Beverage Co. will also advertise in the game, teaming up with online betting site DraftKings Inc. to let consumers predict the contents of the brewer’s commercial and earn money if they guess correctly.
DraftKings’ own ad will face off against a live commercial from rival Flutter Entertainment PLC’s FanDuel Group, in which football great Rob Gronkowski will attempt a 25-yard field goal to win bettors a potential share of $10 million.
And “He Gets Us,” an ad campaign introduced last year to
reintroduce Jesus, will run 90 seconds of advertising time at a cost of
around $20 million, according to Jason Vanderground, president of Haven,
the creative agency that works with the campaign..." Read more
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