How to Place Prop Bets on Draftkings | Complete Guide

ByFrank Ammirante

Aug 1, 2022

DraftKings is a popular operator where you can not only enjoy daily fantasy sports contests but also engage in sports betting using their user-friendly platform. The site features a comprehensive selection of props wagers, which helps set it apart from the competition.

This is especially the case with the NFL, which is ideal because there is so much action going on any given Sunday throughout the season. There are so many options for you to choose from at DraftKings.

In this article, we’ll provide an in-depth overview of how to bet props on DraftKings. You’ll learn about strategies to help guide you towards a successful venture. 

How to Do Prop Bets on DraftKings

Placing a props bet on DraftKings is an easy process, you just need the steps provided below.

Step 1: Create an Account or Sign In

If you already have an account at DraftKings, enter your username and password to sign in. New users can click our “Get Bonus” link on our DraftKings review page. This will grant you access to the best welcome offer available. From there, you’ll need to input your personal information, including your name, address, and more. 

Step 2: Deposit Funds

The next step involves depositing funds into your account, using one of the many banking methods available on the site, including PayPal and credit card. You will need to deposit a minimum of $5. This will be immediately reflected in your account balance. 

Step 3: Find your Wager

Now you’re ready to find your preferred wager. Access your desired betting market by clicking the “A-Z Sports” and then choosing the one that you want. Next, you can decide whether you want a prop in a specific game or if you prefer to make a futures bet. Click your selection to add it to your Bet Slip.

Step 4: Adjust your Bet Slip

Once your wager has been added, you’ll have the option to input your stake. It will automatically show your potential payout based on the odds attached to the bet. When you’re ready, click “Place Bet” to lock in your choice.

Step 5: Straight Bet or Parlay?

If you want the prop to be a straight bet, simply select “Place Bet.” Those who prefer creating parlays of two or more wagers can click an additional bet to add it to the slip. You will now see the parlay odds at the bottom. Enter your wager amount and you’re ready to roll with the parlay.

Types of DraftKings Prop Bets

DraftKings features a diverse selection of props, including player, game, novelty, team, and draft options. We’ll break each type down for you to give you a full understanding of each option.

Player Props

These are player-based outcomes focused on specific stats like home runs, goals scored, receiving yards, rebounds, and much more. Player props are either Over-Under picks or come with a moneyline. You can bet on one game or pick an outcome that will be settled at the end of the season. Here’s a few examples:

Over-Under: Patrick Mahomes Over 280.5 Passing Yards -110 

Here I would need Mahomes to throw for 281 yards or more in order to win. At -110 odds, I’d be risking $110 to win $100.

Moneyline: Derrick Henry Anytime Touchdown +110

This wager hits if Henry scores a touchdown at any point in the game. It doesn’t matter if he scores two or three, I would only need one in this case. I’d win $110 on a $100 wager here.

Game Props

Game props focus on an outcome that involves both teams in a specific match. The focus is often on a portion of the game, such as an inning, quarter, period, or half. Let’s take a look at a couple of examples:

No-Run First Inning (MLB) -130

This bet requires the first inning to remain scoreless after both the top and bottom half. I would stake $130 to win $100 on this wager.

Under 20.5 First Half Total Points (NFL) -120

Here I would need both teams to combine for 20 points or fewer in the first half of action. The -110 odds mean that I risk $120 to win $100. 

Over 55.5 First Quarter Total Points (NBA) +100

In this case, I’d need both teams to put up a combined score of 56 or more in the first 12 minutes of play. The +100 moneyline means that my stake is the same as the payout. 

Over 1.5 First Period Goals (NHL) +120

This wager needs both teams to combine for two or more goals in the first 20 minutes of action. Staking $100 would pay out $120 in this case.

Novelty Props

Novelty props involve outcomes that are either non-traditional or don’t have anything to do with the actual sport. These are usually provided just for fun, often in a marquee event like the Super Bowl. Below you’ll find a couple of examples.

Adam Hadwin: Top Canadian at 3M Open (PGA) +150

Here we have a unique prop where you can bet on the top golfers of various nationalities, including American, European, English, Canadian, and more. This wager would pay $150 on a $100 stake.

Coin Toss: Heads or Tails (NFL) -110

This is where you bet on the coin toss at the beginning of the game, which is conducted to determine possession. It’s popular during the Super Bowl.

Team Props

Team props are focused on one team, either in a specific game or in a futures wager. Examples are provided below to give you a better idea of this bet type.

Dallas Cowboys: Over 10 Wins (NFL) -110

This is a futures bet where I need the Cowboys to win at least 11 games. If they win 10, the bet pushes, and my stake is refunded.

Memphis Grizzlies: NBA Championship (NBA) +1600

Here we have a longshot wager where I need the Grizzlies to win the title. Placing a $100 bet would provide a $1,600 payout.

New York Yankees: Over 5.5 Total Runs (MLB) -130

This is a bet on a specific game where I need the Yankees to put up six or more runs. 

Florida Panthers: Under 4.5 Total Goals (NHL) +110

It’s another team total, where the Panthers need to score four goals or fewer.

Draft Props

DraftKings is one of the best platforms for draft props, featuring markets for NFL, MLB, NHL, and NBA. There are options such as First Player Selected, Draft Position, and more. Let’s take a look at a few examples:

Travon Walker: First Overall (NFL) -200

I would need Walker to go at pick 1 to either the Jacksonville Jaguars or the team where the pick was traded.

Shaedon Sharpe: Under 6.5 Draft Position (NBA) -150

Canadian NBA prospect would have to be selected at six or lower (five, four, etc.) for this wager to hit.

Shane Wright: Second Overall (NHL) +300

The Consensus top prospect Wright would have to go second overall with this bet. 

Does DraftKings Have Player Props?

DraftKings has an abundance of player props, making it one of the best sportsbooks for this market. Here are some options that you’ll have on this site:

NFL: Passing/Rushing/Receiving Yards, Touchdown Scorer, Receptions, Rush Attempts

MLB: Strikeouts, Total Bases, Hits, Home Runs, Runs, RBI

NBA: Points, Rebounds, Assists, Three-Pointers Made, Steals, Blocks

NHL: Goals, Points, Assists, Shots on Goal

Where Are Player Props on DraftKings?

Player props are easy to find on DraftKings. Once you’ve gone to “A-Z Sports,” chosen your preferred league, and clicked on the game you want, you’ll find the props in an organized layout featuring sections. This makes it easy to navigate.

For example, if I wanted to make a futures player prop on NFL MVP, I’d do the following:

  1. Click “A-Z Sports”
  2. Select “NFL” under “Football”
  3. Choose “Awards”
  4. You’ll now see the odds of various players
  5. Select the one that you want

Alternatively, you may notice that your preferred sport is listed in the “Popular” section, which gives you quicker access since you won’t have to scroll down through dozens of leagues.

DraftKings Player Props Rules

There are some rules pertaining to player props that we should note, such as the following:

Baseball (MLB)

  • Players must start the game. Hitters need to register one plate appearance, while pitchers need to throw one pitch. 
  • The game must go at least 9 innings (8.5 if home team is leading), unless the prop has already been settled prior to an early finish due to rain.

Basketball (NBA)

  • The player must get playing time (as long as they come into the game, doesn’t matter how long) for the bet to stand.
  • Overtime does not count in fourth quarter player props.

Football (NFL)

  • Each player must be on the field for at least one snap.
  • For Yards on Longest Completion/Reception/Rush markets, if they don’t register one, the Under will win.

Hockey (NHL)

  • Players need to receive ice time for the wager to stand.

Remember that if you bet the Under on a player prop and that player is forced to leave early due to injury, you’ll win your wager. The bet stands and is not voided due to the premature exit.

DraftKings Prop Bets for NFL

There are several choices for NFL prop bets at DraftKings, so you’ll never have a shortage of options.

These props require you to bet Over or Under the assigned number:

  • Team Totals in Quarter/Half/Full Game
  • Passing/Receiving/Rushing Yards
  • Receptions/Rush Attempts/Pass Attempts/Pass Completions
  • Longest Completion/Reception/Rush/Field Goal

The following props need to occur for your bet to hit, no need for Over or Under:

  • First/Next/Last Touchdown Scorer
  • 2 or More/3 or More Touchdowns
  • Most Passing/Receiving/Rushing Yards in a Week: must lead NFL in given stat for the week

Super Bowl

The Super Bowl features each of the props outlined above, but you’ll also find more novelty props, such as:

  • Coin Toss: Heads or Tails
  • National Anthem: Over or Under the specified length
  • Gatorade Color: Color of Gatorade dumped on winning coach

You may also find some props related to commercials as well as the halftime show.

Best DraftKings Prop Bets

The best types of prop bets to target are player props because they’re easier to project. Below you’ll find some of my favorites for each of the four major North American sports leagues:

NFL

  • Passing Yards: Focus on quarterbacks in pass-heavy offenses
  • Receiving Yards: Take a wideout who has a high target share
  • Rushing Yards: Choose a running back on a team projected to win the game

NBA

  • Points: Target a player who attempts several shots in a fast-paced game
  • Rebounds: Big men on teams with injuries to other players at the same position
  • Assists: Focus on players who have high usage rates

MLB

  • Strikeouts: Go after pitchers with high strikeout rates in good matchups
  • Total Bases: This is easier than choosing a player to get a specific hit (i.e. double)
  • Yes/No Run First Inning: Target volatile pitchers for “Yes,” pitchers with good control for “No”

NHL

  • Shots on Goal: Focus on players who have a lot of shot attempts

How to Find the Best Prop Bets

When finding the best prop bets, here are some things that you should look for:

  • Shop around for the best sportsbooks odds to get the most value out of your wager
  • Make sure there aren’t any late injuries that could impact the pace or outcome of the game
  • Take a look at a player’s recent performance to see if they’re trending up or down
  • Consider the head-to-head matchup to exploit any mismatches
  • Check the weather because windy, rainy, or snowy conditions can make an impact
  • Examine the point spread because favored teams are projected to score more points
  • Look at the game total – higher totals mean more points, which is better for Overs

Prop Bet Strategies

Here’s an in-depth strategy to guide you towards success in prop betting:

  • Focus on volume stats in player props. This is easier to project because you can look at shot attempts (NBA and NHL), strikeout rate (MLB), target share (NFL), and pass attempts (NFL) to guide you in your selection. 
  • Avoid choosing a player to score a goal, touchdown, first basket, or hit a home run. While these are fun and have long odds, they are hard to win. If you do want to play them, just sprinkle fewer units to mitigate your risk.
  • Prioritize Unders. This is because you have another out to win your bet. If a player gets hurt and hasn’t hit the Over yet, you win as an Under bettor. This is a good idea in football, where injuries are so prevalent. Furthermore, in blowouts, teams often rest their starters, giving you another avenue to an Under victory.
  • Make sure not to lay too much juice. While sometimes you’ll notice that a number is too high or too low, making it worth it to hit up a -150 or lower moneyline, you shouldn’t do this too often. Try to limit your odds to a minimum of -120 to -130, unless you really like the number. This will help your bankroll in the long run.

Prop Betting for Beginners

If you’re a beginner to prop betting, we’ve got you covered with these steps:

  • Focus on players who you are familiar with because this will make your research easier since you already have prior knowledge of their skills and usage.
  • Stick to volume stats like passing yards, points, and strikeouts.
  • Avoid longshot wagers like first touchdown scorer.
  • Limit your risk by sticking to moneylines at a minimum of -120.
  • Research your selection by looking at recent player performance and upcoming matchup.
  • Make most of your bets straight wagers because they’re easier to win.

How to Calculate Prop Odds?

Prop odds are displayed in American style on DraftKings. This is where you see positive or negative integers related to $100. 

Positive odds mean that your payout will be greater than your risk. For example, if I took Joe Burrow to win NFL MVP at +1200 odds, I’d win $1,200 on a $100 wager.

Negative odds is where your stake is greater than your potential winnings. In this case, if I selected Saquon Barkley over 5.5 receptions at -110, I’d risk $110 to win $100. 

In order to calculate these odds, here’s what you do:

Example 1: -150 odds (Negative moneyline)

If you want to win 100:

150 / 100 = 1.5

1.5 x 100 = $150 risk

If you prefer to stake 100:

150 / 100 = 1.5

100 / 1.5 = $66.67 winnings

Example 2: +150 odds (Positive moneyline)

In this case, your winnings will always be greater than your stake, so there’s only one step:

150 / 100 = 1.5

100 x 1.5 = $150 winnings

Why Are Props a Good Bet?

Props are a good bet for the following reasons:

  • You can target player props, which are easier project because you can focus on volume stats like receptions or shots on goal
  • There’s a chance for a high payout on a longshot futures bet or novelty prop like first basket scored
  • You don’t need to worry about which team wins the game
  • Correlate your props in a Same Game Parlay for better payouts. For example, choosing Tom Brady Over Passing Yards and Mike Evans Over Receiving Yards. These two bets correlate because you have a quarterback and his top wideout.

Can Props Be a Bad Bet?

Props can also be a bad bet because:

  • Sometimes they can be heavily juiced to one side
  • You lose your bet if you have the Over and your player gets injured before eclipsing the total
  • First Touchdown/Basket/Goalscorers are extremely difficult and could eat away at your bankroll
  • Blowouts can cause your team to bench your player
  • Game props like No-Run First Inning can be completely random

What Sports Are Available for Props?

There are several sports available for props, such as:

  • Football
  • Basketball
  • Baseball
  • Hockey
  • Soccer
  • Golf
  • Tennis
  • Formula One

Is There Bet Insurance on Props?

Sometimes you may find bet insurance on props on DraftKings, either through a welcome bonus or promotion. This is where you are refunded in site credit if your wager loses, as long as you meet the criteria outlined within the terms and conditions of the promo.

An example of this may be Parlay Insurance, where you get back up to $25 in free bets if your $25+ parlay of four or more legs loses by one. This includes player props.

Author

Frank Ammirante

Before joining The Game Day, Frank spent three years in the fantasy sports and betting industry, writing for websites like RotoBaller and 4for4football. Frank is an active member of the fantasy baseball and fantasy football community, participating in high-stakes leagues like NFBC/NFFC as well as industry competitions like Scott Fish Bowl, RazzBowl, and TGFBI. Frank is a member of the FSWA and IBWAA. Give him a shout to talk fantasy sports and sports betting.