What are Futures Bets & How do they work?
It’s thrilling, isn’t it? Placing a single bet on the odds of the gaming tournament months before and then waiting for the probability of winning that event. This is what futures bets look like. One of the popular forms of betting in sports betting is the futures bets, which means just the same as the name implies. Futures bets are typically placed before a season or tournament begins, but many sportsbooks allow futures betting throughout the season. The outcome is determined when the specific event concludes, making it one of the popular forms of betting in the sports betting landscape.
The uncertainty of events makes the futures bets more fun and difficult to predict; however, if done right, it can fetch higher payouts to the bettors. Dive into the intricacies of futures betting as we explore what it is, how it works, the benefits and the disadvantages for a broader knowledge, helping you secure value bets.
Understanding Futures Bets
Futures bets are the bets placed on games or events whose results will be determined in future, such as by the end of the season or tournament. It is different from the usual bet as it is a single bet placed but has a long life. It starts before the season or tournament starts, and the outcome is usually settled at the end.
The bets can be placed on both teams as well as the players market, which involves which team will win the league or season, or which player is likely to win the MVP. Futures betting lines are available both before and during the season, with odds adjusting based on various factors such as team performance, injuries, and trades. You can bet on any point in time, such as NFL odds.
The bets can be placed on both teams as well as the players market, which involves which team will win the league or season, or which player is likely to win the MVP. Futures betting lines are available both before and during the season, with odds adjusting based on various factors such as team performance, injuries, and trades. You can bet on any point in time, such as NFL odds.
How do Futures Odds work?
Looking at the futures odds board, you will find a list of teams or players along with the odds next to them, indicating the payout and chance of winning the bet. These odds are, however, not static but dynamic because they are shifted or adjusted by the sportsbooks based on teams’ or players’ performance, betting demand, as well as news over time.
Here’s a breakdown of Futures odds to help you understand how it works:
Here’s a breakdown of Futures odds to help you understand how it works:
Opening Odds
The odds are displayed on the sportsbook platform before the season begins, and the early odds are expected to bring higher payouts because when a punter bets early, there is high risk and more uncertainty for a longer time. Winning the early odds can lead the bettor to land a huge shot of payout.
Midseason Odds
As the tournament or season progresses, the bookmakers adjust their odds depending on several factors such as news updates, social media views, public opinions, game events and more. The odds are also shifted if there are any injuries, trades or other news. As top contenders perform well, their odds shorten, resulting in lower potential payouts. Conversely, if underdogs underperform, their odds lengthen, offering higher potential payouts.
Late Season Shifts
When the season moves towards the end, most of the uncertainty is gone as only a few contenders are left in the game, and the futures odds tighten significantly. The performance for the favourites could be predicted as something else before the season commences, and later on, it can be something else, impacting the chances of winning, because whatever odds your bet stays the same at the odds you initially locked in.
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Types of Futures Bets
Here are the different types of futures bets, bettors can choose to place bets on:
MLB
MLB is the baseball season which is most popular in America, you can bet on infinite options, some of the popular ones include World Series Winner, Cy Young Award, MVP, and Win totals.
NFL
The most popular sport worldwide is football, where everyone's eyes are on their favourites and place bets depending on their favourite teams or players, guessing long before it starts, due to their performance over time. Bettors can place futures bets on the Super Bowl winner, Division Champion, MVP or Rookie of the Year.
NBA
The NBA offers various futures betting options, including NBA Finals Champion, Win Totals, MVP, Coach of the Year, Sixth Man of the Year, and Rookie of the Year.
NHL
NHL is a fast-paced sport and cannot be approached by favourites, but the calculation, hence, can be a difficult catch sometimes. However, some of the popular options to bet on include Stanley Cup Champion and Hart Trophy Winner.
Pros of Futures Bets
Here are the advantages of futures bets:
Better ROI
Bettors can stake a small amount of money and still win the higher payout if they are right in their prediction of the winning odds. This is a one-time wager, and the outcomes are almost double the money bettors place, even the favourites pay well in futures.
Opportunity to Adventure
If the bettors have a strong insight into who is likely to win, then the outcome for betting on futures can be enticing. Staking on their knowledge and understanding of the future outcome of the game is a thrilling adventure in itself. It gives the bettors the privilege to bet more on their own insights than on the events, giving them the adventure, if it turns out to be right, providing them with huge payouts.
Less Stress
Futures bets require patience, as the outcome is determined at the end of a season or tournament, rather than after individual games. It prevents the bettors from the immediate shock of the gaming results, soothing the anxiety, as the outcome unfolds later in future, providing a relaxing experience to bettors.
Long-Term Entertainment
Bettors can enjoy the entire season without a trace of stress, because they are not required to bet daily or weekly on the events of the game. They get to watch their favourites perform and enjoy, unlike the usual bets where the interest of the bettors lies more in the outcome than the game. No constant effort or betting is required, just a single bet at the start, and then the outcome is awaited, which is determined in the end only.
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Cons of Futures Bets
Let’s take a look at the disadvantages of betting on futures:
Uncertainty and High Risk
The bets are mostly a game of prediction; the futures odds are displayed and then upon these odds, the bettors stake their bets. However, as the events in the game unfold, the uncertainty spikes too because there are several factors which impact the outcomes, such as weather, player injuries and performance of the team or player over time. Hence, being a game of chance, the uncertainty is high, followed by higher risks.
No Instant Satisfaction
For bettors who want to see the quick results and like to stake daily, betting on futures might not be a great option for them. The settlement of futures bets takes months, and this delayed outcome does not provide instant excitement to the bettors. Therefore, those who do not like waiting for longer periods may not enjoy futures.
Want to Learn More?
Gammastack: Leading Betting Software Developer
If you are a sportsbook operator who wants to integrate futures bets into your platform, then look no further than Gammastack. We are a certified and leading betting software developer with more than 14 years of expertise, helping operators develop their sportsbook with their choice of integrations. Whether you want a white-label solution, a turnkey solution or a bespoke solution, we have all three available as per the operator’s requirement for the platform launch.
Along with the development, we provide access to robust customer support and wide betting markets, so the bettors can have a convenient betting experience. We also ensure our sportsbook solutions are multilingual and multicurrency supported, so the bookmakers can be convenient to use for everyone.
Frequently Asked Questions(FAQs)
Choose a sportsbook which displays reliable futures odds, use these odds to place your bets, sign up, add funds to your betting account, use these funds to place bets preseason and then wait for the outcome, which will be settled into your account after the tournament ends.
Futures bets appeal to bettors due to potential high payouts, season-long engagement, opportunities to find value, and the satisfaction of accurate long-term predictions.
Bet practically not emotionally, research thoroughly, do not place bets overconfidently, try not to chase the hype, and shop only for the value or best odds.
It depends on sportsbook to sportsbook; not all sportsbooks might have this option; therefore, research well and choose the one that has this betting option available.
