Insight
Checking in with props.cash founder Pete Smaluck
July 14, 2023
We sat down with props.cash founder Pete Smaluck to discuss how the NBA season went, what he likes to bet for MLB, and props.cash’s focus this summer.
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Props.cash has now been live for over two years, how have your goals evolved in that time?
The goal is central: keep building a better product. With that in mind, our goal is always moving and constantly evolving. We have both the app and web version of props.cash to test out new iterations, and we rely on user feedback to help us create a better product.
What would you say to a props.cash desktop user that hasn’t yet tried out the mobile app version of the product?
The app is a different user experience. There are obvious similarities, but the app has a very different user flow. The research process may be slightly different than with the web version, and it offers a comfortable alternative if you’d like to test out a new research flow.
We’re not trying to make the two products identical; there are some functions that may only exist on the app and not the desktop, and vice versa.
The app has given us a chance to test out new products and filters and see what works and what doesn’t. We can have the two play off each other to determine what is best.
Any examples of app-specific features worth exploring?
We’ve released an MLS beta that we’re excited about! We’re trialing soccer to see if we can build a product that can tap into some of the soccer market. This is going to be a fun journey for us that will be a lot different than something like MLB.
We’ve also released an NFL futures tab on the app, which gives users the ability to look through varying season-long lines. We’re slowly gearing up for the start of football season, and I’m glad we’re able to provide our users with some NFL now.
How is the feedback relationship with users currently?
We still get a lot of user feedback, which I value. A simple suggestion accompanied with “hey this would help me” has spurred plenty of the developments we’ve made to the product and is sure to shape future versions of props.cash.
Not only do we get people asking for new features, we also get people asking a clarifying question on something that we thought was a fairly straightforward idea, and we realize we’re not doing a good enough job explaining a certain feature.
Feedback and conversations with our users is a necessary part of shaping this product. Some people want simplicity, some want complexity. By speaking to as many users as possible we get to balance that.
What are you most proud of with the NBA and NHL seasons over?
Definitely proud of the product and the iteration we made throughout the season, and it was great to see how much our community grew this year. Throughout both seasons, we were able to continue fostering a community of people who are advocates and genuine users of props.cash.
Those that have been betting NBA props for a few seasons are likely to remember that the 2022 playoffs were very challenging for props. This season, we saw as the markets matured that users matured alongside it.
We were seeing a lot more defensive props and a lot more unders, and it was interesting and exciting to watch users shift their mentality and explore new props to have success this past postseason.
What’s the focus for the summer?
MLB and WNBA are both in-season now, and in-season is when we receive the most feedback and it’s when we need to be developing, so we’re actively working on improving both sports throughout the summer.
Beyond that, we’re excited to announce that College Football props are coming this fall! We’re focused on getting that and our NFL dashboard ready for our users.
Besides props.cash sign-ups and engagement on Twitter, how are you tracking the success of the MLB tool?
This isn’t very analytical, but how happy are we with the product? We spend so much time developing the product, and we’re all betting props and using it ourselves. Part of the measurement besides sign-ups and Twitter tags is simply about how useful we’re finding the tool and how excited we are to use it.
What MLB props have you been betting, and what trends have you noticed?
I’ve been enjoying “Hits + Runs + RBI” props. Any time a new prop is introduced it’s worth taking a look at, it’s new and inefficient which makes it exciting.
I’m also in love with K props. K props are the most mature MLB prop, and being the most bet MLB market makes them interesting in my opinion, but in the exact opposite way that HRRBIs are interesting.
K props are hyper efficient, so you can start to read how the books are moving. You can allow K props to inform other props. Let’s say a pitcher’s strikeout prop chart is all green. You can infer that books are thinking that he is going to get a low amount of Ks. With this low amount of strikeouts, in theory, the team he’s facing should get more hits and walks.
There’s something interesting about playing props off each other like that.
What else comes to mind as you think about the props.cash journey so far?
We are focused on a singular mission: helping props research. This is what we do, we’re focusing on a ton of props, and with that comes going deeper into player trends and stats and understanding how users think about them.
To me, it’s gotten past the point where it’s about my picks. It’s about seeing how people are using the product. Learning about how others think and what shapes their decision-making is one of the awesome benefits to the community we’ve grown.
Users are attacking the prop market in unique ways, and these people’s process is becoming more and more nuanced as the prop markets mature. I’m just glad we can help people get there.
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