Futures betting involves any bet made on a sporting event yet to be played.
An example of a futures bet is a bet about the winner of a championship game before the start of the season, like betting on The Super Bowl. It could also be a bet on the March Madness Championship.
Though a futures bet is often made before the start of the season, it is still possible to bet once the season has started. However, the benefit of betting before the season is a higher potential payout if you’re correct.
Even if a sportsbook offers futures bets once the season has started, the payout decreases steadily with each game. The more you see about the potential outcome, the less you stand to win.
What Does It Mean To Bet On Futures?
In futures betting, people usually bet on who they think will win the whole tournament or event. However, futures betting can also include an over/under on season win totals or whether a team will even make the playoffs/final game.
There are some downsides to futures bets and some potential things to be aware of. Futures betting often has a larger house advantage. Meaning potentially, the odds are not in your favor. It’s best to do some research and some math to decide first if a bet is worth the risk.
Another potential drawback is the lack of entertainment value. Lots of sports bettors like to make bets throughout the season. Having your money tied up in a single bet for the entire season may not be the best source of entertainment, even if your bet is favored to win. It’s a good idea to budget your gambling money so it’s not all tied up in a single bet.
Here are some examples of popular futures bets. But they can apply to most sports’ culminating event.
- Super Bowl Winner
- World Series Winner
- Stanley Cup Winner
- NBA Finals Winner
- AFC Championship Winner
- NFC Championship Winner
Example:
Let’s say you make a bet at the start of the NFL season. You place $100 on your favored team The Philadelphia Eagles. There are a few potential ways this scenario can play out.
- The Eagles don’t make the playoffs, in which case, you make nothing.
- The Eagles do make the playoffs but don’t make the Super Bowl. You still win nothing.
- The Eagles make the Super Bowl and lose. You win nothing.
- The Eagles win the Super Bowl. You win $800.
Types of Futures Bets
When you engage in futures betting, you’ll come across several types of wagers you can place. Here’s a quick overview:
- Championship Winners: This is about betting on who will win a tournament or league, like the Super Bowl or NBA championship.
- Division Winners: In some sports, you can bet on the team you think will top a division or conference at the end of the regular season.
- Season Win Totals: These bets are on how many wins a team will have in a season. You guess if a team will win more or fewer games than a number set by the betting site.
- Player Awards: You can bet on individual achievements, like who will be named MVP or the top scorer in a league.
- Playoff Berths: This type of bet involves guessing whether or not a team will make it into the playoffs.
- Prop Futures: These are bets on specific events or achievements that may not directly relate to a game’s final outcome.
Reading And Understanding Odds In Futures Betting
Understanding odds in futures betting is all about knowing what your potential wins could be. Lower odds mean the team or player is expected to win, but if they do, your winnings will be smaller. Higher odds are given to the underdogs, less likely to win but if they do, the returns could be significant. So, it’s a trade-off between playing it safe with smaller potential wins or taking a risk with the chance of a big reward. This balance is key to making smart bets.
If you’re planning to bet on the forthcoming NFL Super Bowl winner and you spot odds of +600 for the Kansas City Chiefs. What does this mean?
In the context of futures betting, a +600 essentially indicates that if you were to bet $100 on the Chiefs to win the Super Bowl, and they indeed clinch the title, you would win $600.
On the other hand, a less fancied team might have higher odds, say +2000. That means if you bet $100 on this underdog and they surprise everyone by winning the Super Bowl, you get a $2000.
So the ‘+‘ sign in American odds shows how much money you’d win from a $100 bet.
Higher odds mean bigger possible winnings, but it’s also a riskier bet because that team is not expected to win. Understanding how these odds work helps you make better-informed betting decisions.
Strategies for Futures Betting
When you’re making futures bets, there are some simple strategies that can help you win:
- Research: Find out all you can about the teams or players you want to bet on. How did they do last season? What’s their reputation?
- Choose Your Timing: When you bet is important in futures betting. Keep an eye on how odds change during the season and pick the best time for your bet.
- Spread Your Bets: Don’t put all your money on one bet. Make several different bets to increase your chances of winning.
- Look for Good Odds: Different betting sites might offer different odds. Find the odds that give you the best chance of making money.
- Bet on Underdogs: Teams or players that aren’t expected to win can bring in big winnings. Don’t be afraid to bet on them.
- Think for Yourself: Popular teams can sometimes have worse odds because many people bet on them. Don’t let popular opinion guide your decisions.
Following these simpler strategies, you can get better at futures betting.
How to spot a good future bet
Futures betting is a lot like investing in the stock market or buying car insurance. When you’re looking for investment opportunities or looking to switch insurance providers, you’re going to want to shop around first.
Comparing moneylines can help bettors choose the right sportsbook to place their futures’ bets with. While a lot of lines can have similar benefits, some sportsbooks list the same team under very different odds. Specifically, in regards to futures betting, lines typically vary pretty widely from sportsbook to sportsbook.
Sportsbooks set odds independently, which means Website A might list the odds on your favorite team at +250. Website B might list their odds at +150. Website C might have +350. These differences can have huge impacts on your bank account so it’s important to find the site that lists odds in your betting favor.
It’s also extremely beneficial if you’re skilled at reading odds. It can sometimes be difficult with so many odds formats, but a simple odds converter tool can navigate that hurdle.
Let’s break that down further. For instance, let’s say you bet $1000 on the Eagles on Website A, you stand to win $2500 if they win. Website B would net you only $1500 and Website C would bring in $3500 for a win. That’s a $2000 difference between sites!
The higher the odds are listed at, the more you can win per bet. So make sure to do your research before taking part in any futures betting.
Why should you bet on futures?
There are some great reasons to participate in futures betting. Like the stock market, you want to place a futures bet on a team when they are low on the totem pole and least likely to win. Winning a futures bet on an unlikely team will yield a higher payout. If you’re looking for a chance to try your luck with potential long-term outcomes, futures betting could be a good option for you.
Another important point to mention is since the potential yield is high in futures betting, you can spread your bet out. This means you can bet on multiple teams and still profit if one of your teams wins. It’s a way of hedging your bets and protecting your investments.
Here’s an example. Let’s say you’re reasonably sure the Baltimore Ravens (+225), New Orleans Saints (+550) or New England Patriots (+600) will win the Super Bowl. However, you’re not sure exactly which team will win so you decide to bet $100 on each team. Therefore giving you a little bit more freedom and security.
If the Ravens win, you stand to make $225 as well as getting your $100 bet back. If the Saints win, you’d win $550 and get your $100 back. If the Patriots win, well, you get the deal. By placing three bets, you increase your chances of winning some money even if not all of them are successful.
Be aware though, that these odds change with every game. The Ravens might start the season at +1500 and gradually move up or vice versa and your money and betting potential rely on those odds.
Futures betting is fun as long as you’re informed and aware of the risks. It can also stand to win you quite a bit of money if you’re right. The earlier you bet in the season, the more money you stand to make. So do your research early and take advantage of those pre-season odds.
Wrapping Up the Futures Betting
To wrap everything up, futures betting stands out as a unique form of sports wagering. It allows you to make predictions about future events and stand the chance to win if you guess right.
Not only does it add an extra thrill to watching sports, but it also pushes you to carry out careful analysis and predictions. It continues to stir up your excitement, making each unfolding event of the season something to look forward to.
Whether you’re a casual viewer or an devoted fan, futures betting can definitely elevate your sports-watching experience. So, do your research, make your picks, place your bets, and enjoy the ride that each season brings.
