What is a Futures Bet?

TwitterFacebookReddit

What is a Futures Bet
Info Details
Definition Sportsbooks assign odds to the likelihood something will happen with a specific expiry date. Bettors can expect a final resolution on or before the bet’s natural conclusion.
Bet Type Exotic
Odds See each prediction’s money line listed within the future bet.
Sportsbooks Most USA Sportsbooks
Example Before NBA season begins, choose the eventual NBA Finals Champion. Pick one team from the entire NBA league.

Futures bets reference a specific event on a specific date. Bettors must correctly choose an eventual winner, participant or other outcome long before the event begins. For example, consider picking a Super Bowl winner. It is harder to predict a winner in August compared to January after conference champions have been crowned. Bettors will be rewarded with a higher payout for making this bet in August compared to January.

Futures Bets may seem very similar to Prop bets. While it’s true they both focus on distant events, Futures bets reference a specific event on a specific date. Prop Bets are open ended in terms of their timing. In other words, you don’t know if your prop bet will transact, but you do know when the Super Bowl is. Accordingly, the odds for Futures bets are adjusted and figured differently than Prop bets.

Example: Choose this season’s Super Bowl Champion
Odds:
New England Patriots 2:1
New York Jets: 20:1
Chicago Bears: 60:1
Green Bay Packers: 15:1
Oakland Raiders: 12:1
… etc for all NFL teams

You could choose to take the Green Bay Packers at 15:1 odds. That means for every $1 wagered, you’ll get $15 in winnings. Remember, the bet terminates when the Super Bowl is over. Or when the Packers are no longer viable Super Bowl participants. The further in advance you bet, the better the payoff. With futures bets, your clairvoyance can be valuable.

Remember, Futures bets have long odds. We suggest placing small wagers, no more than $100 per bet. Otherwise you’re literally throwing your money away. That is, unless your Magic Eight Ball can pick winners every time!

Futures can be thrilling, because your payout will be substantially more compared to a spread bet. The 2015-16 English Premier league result is a prime example. Leicester City faced 5000:1 odds to with the Premier League. Only a few punters took this risk, realizing it was extremely risky. In the end they were rewarded handsomely. $10 wagers paid a whopping $50,000 when Leicester City were named Champions against all odds.

Don’t forget, futures bet odds will change as the even draws closer. Odds offered before NFL season will be different compared to those offered halfway through. You’ll win more money if you bet in advance, however your risk will be substantially higher.

See Also
What are Prop Bets?
What is a Parlay?