Simply put, a futures bet is a bet that is made well in advance of the result. These types of bets predict the outcome of a game or event weeks, months or years down the line. The betting lines may be open for months, but as soon as they close, there will still be a significant time between the line closure and the outcome of the wager
Making long-term bets is a very common occurrence in the gambling industry, especially for novices and newcomers. The Olympics, World Cups and other major international sporting events often attract futures bettors.
However, there are futures betting markets available in all kinds of markets. Examples of this would be making predictions about the postseason events in major US sports leagues, the SuperBowl, NBA finals or the MLB World Series. A bettor may wager $20 on the Mavericks to win the 2021 NBA Finals at the start of the season, receiving significantly better odds than they would if they placed that wager in the postseason, as there is much more risk involved.
Where to bet on futures?
Nearly all major sportsbooks offer futures betting markets. Obviously, there are some sportsbooks that are more dedicated to certain markets than others, for example, BetWay has a dedicated Esports section on their site and offers some great lines for Esports platforms.
Though, when it comes to major sports leagues, nearly every sportsbook will cover the odds for futures. As we touched on before, it’s the major sports leagues like the NBA, NFL, MLB, MLS and NHL that attract the most attention for futures betting.
One of the biggest providers in Canada is Sports Interaction and they always offer futures bets on major league sport, as well as European competitions like the Champions League and Premier League, and Canadain competitions like the CPL as well.
How does futures betting work?
It’s fairly straightforward, with bets being paid out much like any other wager a bettor places. Whatever the odds were when the bet was first placed, are the odds the bettor will receive if the payout comes.
An example would be if a bettor places a bet on Manchester United to win the Champions League at 7.0 odds, then the better will receive the stake against those odds. Equally, if the odds are +900, then the better will be paid out at +900 if the bet comes in.
Either way, bettors won’t be paid out for some time as they wait for the outcome of the bet to be revealed. There are many cases of certain futures bets not being concluded when bettors expect them to be. For example, if a bettor places a wager on a team to clinch a postseason position in the NHL, some sportsbooks won’t pay out on that bet until the postseason is concluded.
Benefits of Futures Betting
First and foremost, the biggest benefit to any user making a futures bet is the huge payout potential from the hiked up odds. Making predictions about the outcomes of events that are a long way in the future always means the bettor will get favourable odds. The odds will almost never be the same as they at the end of the season as they were by the time the postseason comes around.
However, a bet like Los Angeles Clippers to win the NBA will not give great odds, as they are one of the best teams in the league and will be expected to go far in, or even win, the competition.
Futures sports betting provides the opportunity for bettors to bet small and win big, which is a rarity unless the odds are heavily against the bettor. For example, betting small on odds like 17.00 will yield a great payout. These are odds indicate high risk, but if the bettor is confident or simply following their favourite team for the season, then it’s a worthwhile bet.
We touched on this briefly before, when we mentioned the concept of being to track the bet throughout the season. This adds to the experience and gives bettors something else to get excited about each week, something more than just the regular-season game itself! Moreover, if your team wins in the postseason and is crowned champions, having a big pot of money waiting for you is the cherry on top!