Mad Props is a peer-to-peer social wagering app, designed by NEON Labs LLC, exclusively for iPhone users. Users can challenge their friends to prop bets on various topics including sporting events, political events, and pop culture. The app offers a variety of bet options such as Player Props, point spreads, and over/under bets for upcoming games. Additionally, users have the freedom to create custom bets if they can't find what they're looking for.

In addition to betting, Mad Props provides features for group chats and direct messaging, allowing users to engage in discussions about games and extend prop bets to friends. The app also offers users the ability to track their betting history and manage their peer-to-peer ledger effectively, providing a comprehensive solution for keeping tabs on their success and settling up. Mad Props emphasizes that it is not a sportsbook, does not collect fees for bets created, and ensures that funds are not exchanged within the app, maintaining a strictly fun and social betting experience.