Futures bets are a treasure of the online gambling industry. They can help increase the odds available on your favorite teams and athletes, showcase your sports knowledge, and beat the crowds to a winner. But what are futures bets, how do you make these types of wagers, and are they worth the effort? We answer these questions and more in this article.
By the end of this article, you’ll know everything worthwhile about futures bets and how they can supercharge your online gambling experience.
What is a Futures bet?
The term 'futures bet' may sound complicated or even confusing, but it’s quite simple. When making a futures bet, you are gambling on an event that is decided in the future.
An example of this could be placing a wager on New Jersey to win the Super Bowl or Manchester City to win the Premier League. You might make these bets in August during pre-season, knowing you must wait until the end of the campaign for your bet to be settled.
Why would you risk your stake on a bet that won’t pay out for many weeks or even months? The short answer is for better odds. In most cases, the earlier you gamble, the more risk you’re taking, but the higher odds you’ll receive. Someone betting on Man City to win the EPL in August should get greater odds than someone making the same bet a few weeks before the final game.
A similar type of bet is called ante-post in horse racing when you make predictions and gamble on a race that is up to a year away, often before the final field is declared. The main aim of futures betting is to get the best odds, especially when backing favorites.
How Does Futures Betting Work?
Traders working at major sportsbooks will offer odds on fixtures decided in the future. They will use stats, trends, past results, injury news, transfers, and other important aspects to create a price. The bookie will often take a little more of a risk and offer value to entice members to play their hand earlier than usual and back the futures markets.
In most cases, the odds available on futures bets will change with the passing of each game. That means you can wager early for a great price or bide your time and gamble during the season when the odds are high and the risk low.
Suppose you bet a team to win the league at +8000 because you’re confident they will perform well in the coming season. Your pick does as expected and starts the campaign strongly, forcing traders to adjust their odds. They’re now offering just +4000 on a bet you have at double the odds. Getting the value is the reason most play the futures markets.
Types of Futures Bets
Futures bets come in many different shapes and sizes, meaning there’s something for everyone. Finding the right market for you could offer a long-term interest across several games and results for one stake. Many gamblers view the futures market as a great value-for-money bet - let’s now look at some of the most popular options.
Championship bets remain the most popular type of futures bet. As mentioned earlier in this article, a championship futures bet asks you to call the outright champion of a league, series, or competition, often many weeks or months in advance of the start. Backing Team USA to win the most gold medals at the Paris Olympic Games is a great example of a successful futures bet.
Season wins are another popular choice with backers. Here, you wager on a team winning more or less (over/under) a certain number of wins. Will England win over or under 2.5 games at the next Six Nations rugby championship? You can then follow your bet, and it will be settled as a winner as soon as England hits that magic number of three victories.
Player awards allow you to approach a season from a slightly different angle. These wagers are similar to others mentioned on this page, but instead of backing a team, you’re supporting a player. You can pick who will be awarded the Most Valuable Player award at the season’s climax or which player will score the most goals at the next FIFA World Cup.
How to Read Futures Odds
Futures odds often come in one of three formats: American odds, fractional odds, or decimal odds.
American odds are typically displayed in a plus or negative format, such as +2000 or -200. An example of fractional odds would be 10/1, while decimal odds might be 9.0. It’s important you fully understand the odds available before risking your cash.
Futures bet payouts
Futures bets have the potential to pay big, depending on your selection and how early you wager. You can use a bet calculator to predict your return. All respected online gambling apps offer this feature, and it's simple to use. Add the odds you received, input your stake, settle the bet as a winner, and see the returns. You’ll now know what you’ll receive if your bet wins and can consider placing alternative bets at the right stake to ensure a profit.
When you get paid for futures bets
You may see some futures bets settled in advance of the last game. If you backed Real Madrid to win La Liga and they enjoy a sizeable advantage over the competition with time running out, your sportsbook may settle your bet early and pay your winnings. There are many famous cases of bookies paying out early on futures bets. If your bookie doesn’t think it’s worth settling your bet early, they will tie things up at the end of the season when the games are finished and the results confirmed.
Pros and Cons of Futures Bets
As you can see, there's a lot to consider when it comes to placing futures bets. Here's a quick overview of the pros and cons:
Pros:
- High Potential Payouts
- Long-Term Engagement
- Strategic Advantage
Cons:
- Risk of Uncertainty
- Tied-Up Funds
- Difficulty in Prediction
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Futures betting is an interesting way to gamble, often offering higher returns, but with increased risk. As such, it's important to place educated and well-informed bets - not just with futures betting, but all forms of online gambling.
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