Caesars Palace claims to have invented the proposition bet over thirty years ago, when they would invite former NFL players to their casino and host Super Bowl viewing parties. Nowadays the prop bet is one of the most popular and fun wagers during the Super Bowl and gamblers can wager on just about anything from how long it will take to sing the "National Anthem" to the outcome of the coin toss.

Last year Las Vegas casinos raked in over $80 million in Super Bowl wagers, with the casinos winning around 8% of that amount. Many of those wagers were actually on the exciting prop bets offered by the casinos. Many prop bets don't necessarily require any previous knowledge of the players or the teams, but they definitely make watching the Super Bowl much more exciting.

One of the reasons that bettors and fans like to wager on the props are the fact that the odds are comparatively higher than the point spread, over/under and money line. A simple $10 bet can bring back as much $2500 or more if you choose wisely and if something unexpected occurs during the game.

Las Vegas casinos currently offering prop bets on the Super Bowl include the Las Vegas Hilton, South Point, Harrahs, M Resort, The Palms, MGM Mirage, Station Casinos and Boyd/Coast Casinos.

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