Futures
A long-term bet on an event that will be decided weeks or months in the future.
A futures bet is a wager on the outcome of a future event, typically who will win a championship, division title, award, or other season-long result. Futures are placed well in advance and settled at the end of a season or tournament.
How Futures Work
Common futures markets include: Super Bowl winner, NBA champion, World Series winner, MVP awards, and conference titles. Odds are expressed in American format and can offer large positive payouts for underdog picks.
When to Bet Futures
Early-season futures often offer the best value because lines are wider and books have less information. However, your money is tied up for months, which has an opportunity cost.
Key Takeaways
- Futures bets are long-term wagers settled at season's end.
- Early-season futures often carry more value due to line uncertainty.
- Your capital is tied up for the duration, so factor in opportunity cost.
- Hedging a futures bet midseason can lock in profit if your team is winning.
Examples
- Chiefs to win the Super Bowl at +600 placed in August.
- MVP award: Lamar Jackson at +350 in October.
Test Your Knowledge
1 / 3Do you know what Hedging means?
Placing a bet on the opposite side of an existing wager to reduce risk or lock in profit.
Frequently Asked Questions
Can I hedge my futures bet?
Yes. If your futures pick advances deep into a tournament, you can bet the other side to lock in a profit regardless of the final outcome.