Proposition bets, known as prop bets, cover all manner of topics that run the gamut from the result of the coin toss to whether the first turnover will come from an interception of a pass or a fumble of the football.
According to PhillyGambles.com, the man who began the tradition of prop bets is Jay Kornegay, currently the sports and race book director at LVH, the Las Vegas Hotel & Casino. Kornegay began the prop bet business back in the day when he was at the Imperial Palace casino in Las Vegas.
Fox News in Las Vegas (Channel 5) counted some 350 prop bets listed on the Vegas SuperBook as of Jan. 31, 2012. Jay Kornegay told Channel 5 that the wagers on prop bets constitutes half of the total business he does on the Super Bowl.
To show you that pretty much anyone can come up with the idea for a new prop bet, only this week, a local Los Angeles radio show got into the action. At 710 KSPN-AM, sports talk show hosts Steve Mason and John Ireland asked listeners to come up ideas for one that they would ask to be put on the boards.
After much consideration, Mason and Ireland went with a theme revolving around the L.A. Lakers, who the station covers as the team's flagship station. It was put on the big board and the radio hosts are darned proud of it.
"What number will be greater: the points scored by the Lakers' bench in its Saturday game vs. Utah or the total points scored by the kickers from the New England Patriots and the N.Y. Giants on Sunday."
There is another one related to the Lakers. Will Kobe Bryant score more on Saturday vs. Utah than total points scored by the Patriots against the Giants?
Kornegay noted that there are limits to what can be legally made into a prop bet in Las Vegas for Super Bowl Sunday. The bet has to involve something that will happen on the field of play which will be officially recorded by the National Football League.
So although it might be tempting to suggest a prop bet about whether there will be a wardrobe malfunction during the half-time show, you will have to find another way to place a wager on that.
There are 15 bets on the Vegas SuperBook covering just Eli Manning including, what he'll throw first: a TD or an INT, the number of rushing yards he will gain, the total yards covered by his first TD pass, the total number of TD's and if a TD will be thrown by him in each quarter of the game.
A list of the prop bets for this year's Super Bowl can be accessed here.
Image: Wikimedia Commons/Mikerussell