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It's short for Proposition Bet.Example: I bet you $50 that I'll win a hand before you do. People do this all the time. A common one is to make a "last longer" bet before a tournament. Whoever finishes higher in the tournament wins the bet even if both finish out of the money.

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Basically prop bets are coin flips for big money.For instance you could say to a player "2 dimes says a king hits the board, before an ace"These bets are made on just about anything u can imagine.The last longer prop. is a popular one.

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