What Are Futures Bets? Futures Sports Betting Explained
UNIT 3.6 – FUTURES BETTING
Introduction to Futures Bets
Futures bets are a common type of sports betting that lets you predict events and outcomes that will happen in the distant future. While there’s no set amount of time that defines a futures bet, typically they include events that will occur at the end of a sports season. In this article, we’ll discuss what futures bets are, how they work, and some tips for making informed decisions when placing them. In all, this article covers:
What Is Futures Betting?
Futures bets, often referred to as “futures betting” or simply “futures”, are a category of sports bets that allow you to bet on events or outcomes that will occur at a later date. Unlike typical bets where you wager on a game or match happening soon, futures bets are long-term investments that can span days, weeks, months, or even an entire sports season.
Futures bets are commonly associated with the outcome of large team-based tournaments such as the Super Bowl, the World Cup, or March Madness. That said, they can also apply to individual sports like golf, tennis, or even political events. These bets often revolve around predicting the champion or outcome of a specific event.
How Do Futures Bets Work?
Here’s a basic rundown of how futures bets work. Bettors can select the futures tab for any sport or league they wish. From there, bettors can select the event they wish to bet on. This could be anything from predicting the winner of the Super Bowl, NBA Championship, World Series, or the top scorer of a soccer league. Each selection is associated with odds, just like other types of wagers. From there, bettors can wager a stake of their choosing.
Where futures bets differ from other forms of betting is that they then include a waiting period. They can sometimes have a long waiting period, often spanning an entire sports season. You won’t see the results of your bet until the event concludes. Once the event concludes and the outcome is determined, the sportsbook will settle the bets. If your prediction is correct, you receive your winnings.
How Do Futures Differ From The Moneyline?
Futures betting differs significantly from the moneyline in terms of the number and scope of options available. While both types of bets deal with the final outcome of who wins, moneyline bets are relatively straightforward with only two outcomes — a win for one team or the other. Conversely, futures betting deals with a much wider array of possibilities. With futures betting, you’re not just predicting the winner of a single game; instead, you’re making a prediction about an event or outcome that will occur in the future after several games have already occurred. For instance, if you bet on which team will win the Super Bowl, you’re inherently implying that the team will win every single one of their games along the way.