Futures bets are a fun and profitable way to play the long game while sports betting. This page will explain how futures betting works while highlighting strategies to use while wagering.
Futures betting is a type of long-term betting action that looks well beyond the next game on the schedule. They can be fun additions to your betting slip with chances at a massive payout depending on the timing of your wager.
On this page, we’ll explain everything you need to know about futures betting. We’ll also cover how to read and understand futures odds and offer strategies for when you want to bet on futures.
A futures bet is a type of wager where you predict the outcome of an event that will be decided in the future, typically well beyond the next game or matchup.
These bets are placed on season-long outcomes such as which team will win a championship, which player will earn an individual award, or whether a team will surpass a certain win total. Futures bets offer the chance to lock in odds early, often with the potential for higher payouts as the event progresses.
Futures betting works by offering markets for season-long accomplishments, including individual awards and team awards. They can also include postseason awards, championships, or statistical milestones.
The projected likelihood of each outcome determines the odds. For an award like league MVP, a player’s positional value and team performance in the prior season can play a factor; stat milestones often factor in past performance, roster changes, injuries, trades, and coaching changes.
Once a futures bet is placed, the odds are locked in at that rate. Sportsbooks will adjust the odds throughout the season based on the performances of all competitors in the chosen market and the likelihood of that option winning, so if you identify a valuable option early on, this could make for a sizable payday.
In general, the earlier you make your futures bet, the more favorable your odds are likely to be.
Here is a list of some of the most common types of futures bets available across the “Big Four” North American Sports leagues.
Unlike moneyline and spread bets that offer one favorite and one underdog, futures bets can have multiple favorites or underdogs, and the betting odds can change far more frequently than with other bet types.
Furthermore, it’s possible that none of the players or teams listed in a futures bet market are heavy enough favorites to have a “-” symbol next to their odds (unlike moneyline, spread, and totals wagers). To determine the favorite in that scenario, look for the player/team that has the smallest number after the “+” sign if none of the options in the field sport minus symbol.
To calculate the potential payout, consider the numbers after the plus signs in terms of the dollar amount you would win on a $100 wager. If the Edmonton Oilers were listed at +850 to win the Stanley Cup, a $100 wager would win $850 and pay out $950 if Edmonton took home the title.
The most common timing for payouts of futures bets is at the end of the regular season, end of the postseason, or end of the tournament. However, there are times an early cashout could be a favorable move.
For example, if you bet a team at the beginning of the season to win a championship that had longshot odds, the sportsbook may offer an “early payout” that is larger than your stake but smaller than your potential winnings. This is so the sportsbook can avoid taking the bigger loss when your bet wins, but can also give you a chance to collect your winnings in case your wager ultimately loses.
This can also work in the opposite direction. If you bet on a team to win a title but they find themselves in the midst of a losing streak, an early cash out can recoup some of your stake so you don’t lose as much money (while the sportsbook still keeps a percentage).
Be sure to pay attention to odds movements among all market options before making a decision whether to cash out or let it ride!
When making your futures bets, we hope you’ll keep these strategies in mind:
We hope this piece was helpful to you in learning more about futures bets. You now understand the importance of timing in placing your wagers, looking at cashout opportunities, knowing when to hedge your bets, and the value in shopping odds.
If futures bets are in your future, check out our sportsbook reviews so you can start looking at the best online sportsbooks available in your location. Otherwise, maybe our guides to other types of sports betting could help you find something that fits your betting style.
Good luck, have fun, and always gamble responsibly!
Sportsbooks adjust futures odds during the season by tracking player and team performances, injuries, trades, coaching changes, betting action, and more. This can result in changing favorites and underdogs as well, so be sure to keep an eye on the odds once the markets open and throughout the year (not just when the sport is in-season).
If the event where you placed your futures bet is canceled, your stake is returned to you. All bets in that market will be voided as though they were never placed.
Yes, some sportsbooks will allow you to cash out a futures bet early. This can allow you to collect your winnings early before your bet finalizes (and could potentially still lose) or to cut your losses if the player/team you bet on looks unlikely to win.
In general, placing your bet earlier on once the markets open will get you more favorable odds on the player/team you’re backing. Odds will change based on a variety of factors throughout the year, including betting action and as more options are eliminated from market contention.
The risks of betting on futures include odds shifting to make your bet less profitable, injuries eliminating your wager from contention, and trades impacting team performance.
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