What is a Futures bet?
A futures bet is simply a wager on any event that will take place at some point in the future, usually (but not always) at the end of a season. Some examples of the most popular futures bets include:
- Betting on a league championship (Super Bowl, Stanley Cup, World Series)
- Betting on tournaments (The Masters, March Madness, FIFA World Cup),
- Betting on individual awards (MVP, Rookie of the Year, Coach of the Year).
Bettors love futures wagers because sportsbooks offer action on just about anything you can think of. You can bet on team performances such as regular season wins, division winner, or even season-long individual player stats such as catches, goals, or home runs.
Futures Q&A
When do futures wagers get paid out?
Generally speaking, sportsbooks will pay these bets shortly after the result is official.
How are futures odds determined?
Oddsmakers are first assigned the task of projecting the probability of the outcomes that they will be offering to the public.
Let’s say for example that the oddsmakers believe the Lakers have a 25% chance to win the NBA Championship. This would be converted to +300 odds. Sportsbooks, of course, are in the business of making money though, which means they will always try to give themselves the advantage (house edge).
If the oddsmakers believe +300 (probability of 25%) are fair odds, it would be common for them to offer a worse line, such as +250 (probability of about 29%). The sportsbook's goal is to ensure they have a slight advantage over the bettors, while at the same time offering lines they believe will entice the bettor to place wagers.
Can odds change throughout the season?
Absolutely, sportsbooks are constantly altering these lines. Factors such as performance, public opinion and injuries can all affect the odds in futures markets.
If I make a futures bet, can my odds change throughout the season?
No, your bet will be locked in at the price that you bet the future at. Regardless of what the lines move to, your bet will not be affected.
Should I hedge my futures bet?
This is one of the most debated questions in sports betting. When should I hedge my bet? This question has no one specific answer as it is often specific to the individual. Many factors should go into weighing a decision like this. Is this life changing money? Can I afford to lose this bet? Will the outcome affect my personal health? You are strongly encouraged not to bet with money that will have a great impact on your finances or health. Betting is supposed to be fun and enjoyable, so try to keep it that way.
