What is Futures Betting?

Futures in sports betting is all about focusing on the bigger picture. Rather than wagering on individual games or player stats, you’re placing bets on the outcome of entire seasons or the result of major award races.

On this page, we’ll give you all the information you need to know about how futures betting works, including key terms, helpful tips, and plenty of examples.

How Does Futures Betting Work?

Rather than betting on the outcome of a single game, futures betting involves placing a wager on the outcome of a future competition or award race. For example, you could place a futures bet on this year’s World Series winner, or on who you think will win the NBA MVP. In some cases, these wagers could take weeks or months to conclude, allowing you to have money down across a longer period of time without having to do game-by-game analysis.

Futures betting is more difficult than moneyline or prop betting because you’re trying to predict outcomes far in advance. This makes futures betting more rewarding, but also a challenging experience that requires careful patience and plenty of research.

How to Read Futures Odds

Understanding futures odds is crucial for being a successful bettor. These odds operate similarly to standard moneyline bets but with a broader range of options. Instead of just two teams, you have numerous choices, which can lead to more enticing odds but also a greater risk of losing.

Let’s say you’re looking at NFL MVP futures odds: Patrick Mahomes may have +400 odds, Josh Allen +550, and Joe Burrow +700. This means if you wager $100 on Mahomes and he wins, you’d profit $400. But remember, the higher the odds, the riskier the bet, making it essential to carefully analyze your choices.

Do You Need a Calculator to Bet on Futures?

You don’t necessarily need a calculator to bet on futures; they’re generally straightforward enough to grasp without specialized tools. Most sportsbooks will calculate your potential returns for you, simplifying the process.

However, if you prefer to crunch the numbers yourself or want to use a calculator for bankroll management, you’re free to do so. Calculators can help you determine the appropriate wager size and evaluate potential profits.

The Future of Your Bankroll

Managing your bankroll is crucial when engaging in futures betting. Since these bets are made far in advance and might tie up your funds for an extended period, it’s essential to monitor your bankroll carefully. Allocate a specific percentage of your betting budget to futures bets, ensuring that you don’t risk more than you can comfortably afford, especially over the long term.

For example, if you have a bankroll of $1,000 for the NFL season, maybe consider putting just $100 towards future bets. This ensures that the majority of your bankroll isn’t tied up, but still gives you a handful of future profit opportunities.

What are the Drawbacks of Futures Betting?

While futures betting presents exciting opportunities for potential profits, it comes with some notable drawbacks.

One of the primary downsides is the extended time frame involved. When you place a futures bet, your money remains tied up in your betting account for an extended period, often spanning weeks or even months until the event or season concludes. This can limit your ability to engage in week-to-week betting and take advantage of shorter-term opportunities or enticing lines that emerge during the season.

Additionally, futures bets, particularly those predicting championship winners, can be challenging to forecast accurately. Playoff outcomes in sports are often unpredictable, and even the strongest teams can falter unexpectedly.

Can You Add a Futures Bet to a Parlay?

As for adding a futures bet to a parlay, it’s important to note that not all sportsbooks permit this. The availability of parlaying futures depends on the sportsbook’s rules and policies. Even when allowed, you must be cautious not to include related bets in your parlay.

For example, it’s typically not permissible to bet on a team to win their conference and win the championship in the same season within the same parlay, as the success of one leg is contingent on the other.

Be extra careful when placing parlays on futures bets, because they are already challenging enough to win on their own.

Can Beginner Bettors Make Futures Bets?

Absolutely! Futures bets are among the more accessible types of wagers for newcomers to sports betting. You don’t need to be a seasoned bettor or employ intricate strategies to dive into this kind of bet. It’s a straightforward concept: you’re placing a wager on a future event or outcome in a specific sport. The key to success here is having a good understanding of the sport you’re betting on and grasping the basics of how odds work.

One advantage of futures bets, particularly for beginners, is that they offer a longer time horizon compared to traditional game-by-game bets. This can provide a sense of flexibility and the opportunity to follow a team or player throughout a season or championship, adding more excitement to your sports-watching experience.

However, keep in mind that like all forms of betting, there are risks involved, and it’s possible to lose your wager. But as long as you start slowly, make informed choices, and manage your bankroll wisely, futures betting can be a fun and engaging way to get involved in sports wagering.

How Do Sportsbooks Set Futures Odds?

Setting futures odds is a complex and dynamic process for sportsbooks. They consider a wide array of factors to craft odds that accurately reflect the expectations and nuances surrounding future sports events or seasons.

Sportsbooks closely monitor team performance, individual athlete achievements, and team chemistry. They analyze how injuries, both minor and major, can impact outcomes. Historical data, including past team and player statistics, plays a pivotal role in shaping odds. Advanced matchup data, which assesses how teams fare against each other, helps in making precise adjustments to the odds.

Furthermore, sportsbooks are keen observers of betting trends. Sudden surges in bets on a particular team or outcome can lead to odds adjustments, as sportsbooks aim to manage their risk effectively.

Futures Examples in Sports Betting

Now that you know a bit more about how future bets work, it’s time to apply that knowledge to your favorite sport. Whether you’re an NFL fanatic or an NBA diehard, here are futures examples for some of America’s most popular sports.

NFL

For NFL futures bets, let’s consider the Kansas City Chiefs. Suppose you believe they’re primed for another Super Bowl win this season. You check the futures odds, and the Chiefs are listed at +600. This means a $100 bet on the Chiefs to win the Super Bowl would potentially yield a $600 profit if they indeed secure the championship.

NBA

Turning to the NBA, think about the young and talented Luka Dončić. You believe he’s going to have a standout season and potentially win the NBA MVP award. Checking the futures odds, you find Luka listed at +400. A $100 bet on him to win the MVP could result in a $400 profit if he is named Most Valuable Player.

MLB

It’s the beginning of the MLB season, and you’re confident that world-class hitter Juan Soto will lead the National League in batting. Checking the futures odds, you see Soto at +300. A $100 bet on him to win the NL batting title could net you a $300 profit if he finishes as the league leader in batting average.

NHL

For NHL futures bets, let’s take the Colorado Avalanche as an example. You have a strong feeling they’ll dominate this season and capture the Presidents’ Trophy. Checking the futures odds, you find the Avalanche at +400. A $100 bet on them to win the Presidents’ Trophy might result in a $400 profit if they secure the best regular-season record.

Soccer

Moving on to soccer. Let’s say you rate Xavi’s FC Barcelona to win the UEFA Champions League. The odds for Barcelona are currently set at +800. A $100 bet on Barcelona to win the Champions League could yield a $800 profit if they lift the trophy.

Combat Sports

When it comes to combat sports like UFC, you might want to place a futures bet on a rising star like Amanda Nunes to win her next three fights in a row. The odds for Nunes achieving this feat are +350. A $100 bet could potentially result in a $350 profit if Nunes pulls off the victories.

Tennis

If you’re feeling adventurous, you could place a futures bet on Novak Djokovic to win all four Grand Slam tournaments in a calendar year. The odds for this remarkable feat are +1200. A $100 bet on Djokovic achieving this historic tennis milestone could bring you a $1200 profit if he accomplishes it.

Futures Betting Tips

You’re so close to being ready to place futures bets with confidence! But, before you head on over to your Sportsbook of choice, we have a few more words of wisdom for you.

Below are a couple of important tips that can take your futures betting strategy to the next level.

Diversification Is Key

When delving into futures bets, it’s essential to not to put all your eggs in one basket. While hitting the bullseye with one futures bet can be challenging, spreading your wagers across multiple strong contenders can significantly boost your chances of success.

By diversifying your bets, say, across three or four top contenders, you enhance your prospects of winning, even if the individual profits may not be as massive. This strategy ensures a more sustainable and balanced approach to futures betting, guarding your bankroll against potential losses and amplifying your long-term success.

Think About Narratives

Particularly when it comes to wagering on awards, it’s crucial to recognize that these decisions aren’t purely based on objectivity and statistics. Narrative elements wield considerable influence in the selection of league MVPs and other prestigious accolades. When making these bets, it’s wise to consider a player’s legacy, personality, narrative, and past accomplishments, as these factors significantly impact how voters perceive them.

Employing a narrative-focused approach alongside analytical insights will enhance your ability to accurately predict award winners more consistently. Remember, it’s not just about the numbers; it’s about the compelling stories that unfold on the field or court.