Strategic Guide for Wagering on Futures: Key Insights and Tips

Hey there, Sports Fan! Ever wondered how to predict the outcome of long-term sporting events? Well, you've come to the right place! Let me enlighten you on the thrilling world of futures betting.

Futures betting is a type of wager where you place a bet on the outcome of a tournament or season. Imagine betting on the NBA Playoffs or the NFL Regular Season! Not only can you wager on the league or tournament winners, but you can also place bets on individual player performances over an entire season.

Let's Get the Game Rolling

In practice, futures betting involves placing bets on a specific outcome at the end of the event. You can place these bets at the start of the season or event, but you can also bet during the action. Before you take the leap, make sure you understand the odds displayed on the sportsbook. These odds come in the form of a list featuring all the teams participating in the event accompanied by their payouts. The list is arranged in descending order, with favorites at the top and the underdogs at the bottom [1].

Read the Odds Like a Pro

Now, what about those heavy numbers? How do you decipher them? Well, let’s say you find a sportsbook that lists its NBA Playoffs futures with a +600 odds for the Celtics and a +30,000 odds for the Miami Heat. This means that a $100 bet on the Celtics will earn you a $700 payout, while a $100 bet on the Miami Heat could reward you with a whopping $30,100! But before you get overly excited about the Miami Heat, let's dive a bit deeper.

Time to Get Mathy: Meet the Implied Probability

Here's where the concept of implied probability comes into play. Implied probability refers to the likelihood or chances of an event happening. You can calculate it as follows:

Positive Odds:
Negative Odds:

When you feed the odds from the earlier example into the formula, the Celtics have a 14.29% chance of winning the Playoffs, while the Miami Heat have a mere 0.33% chance [1].

Negative Odds: Playtime for the Favorites

Negative odds are also part of the futures betting scene, but they're more common during the season. When you see a team with negative odds, you're looking at a solid favorite with a much higher implied probability of winning [1].

What Moves the Odds?

Since futures bets focus on the long-term outcome, the odds change quite frequently due to factors such as squad depth. which includes injuries, player transfers, and player performance, all influencing a team's performance during the season [1].

Types of Futures Bets

You can participate in two main types of futures betting: team and player futures. Team futures involve betting on events like the Super Bowl Winner, the Super Bowl Winning Division, or the NBA Team to Make the Playoffs, while player futures consist of bets like the NBA League MVP, the NBA League Rookie of the Year, and more [1].

Play Smart, Play to Win: Futures Betting Tips & Strategies

Mastering the art of futures betting isn't a walk in the park. However, here are some valuable tips and strategies that may help you:

Hedge Your Bets: This strategy is useful when your initial pick makes it to the final event. By placing a bet on the opposing team, you can secure a win and make a tidy profit [1].
Diversify: Futures bets are long-term, so diversifying your funds by incorporating futures bets, moneylines, and live bets is crucial for steady payouts [1].
Learn to Predict Big Moves: Identifying player transfers in popular sports like basketball can significantly impact a team's performance. Keep your ears open for rumors to make educated bets early for better payouts [1].
Compare Odds from Multiple Sportsbooks: Different sportsbooks analyze futures bets differently, which results in varying odds. By shopping for the most lucrative odds for your pick, you maximize your payout [1].
Find Undervalued Teams: Discovering undervalued teams can boost your profits. With the right pick, you could earn up to three times what you'd collect betting on the sportsbook's favorites [1].
Check the Season Schedule: An easier schedule substantially impacts a team's performance during the season. Use this tip when deciding between teams with similar odds [1].

Got Skills? Give Prop Betting a Try

If you're new to futures betting and need a bit of training, consider giving prop betting a spin. Since prop bets allow you to place bets on various events, it's essentially the closest you'll get to futures bets without committing long-term funds [2].

[1] "Futures Betting Guide, Types, Odds, Tips, & Expert Strategies." Futures, n.d., https://www.futures.com/futures-betting/.[2] "What Is Prop Betting? How to Bet on Prop Bets and Some Examples." Statista, 2021, https://www.statista.com/news/2021/02/03/what-is-prop-betting/[3] Hodgson, Alan M. "How to Calculate -105 in Decimal Odds and Implied Probability." Profitable Gambler, 12 Oct. 2021, https://www.profitablegambler.co.uk/how-to-calculate-decimal-odds.[4] "Futures Odds, How to Calculate, and Understand Implied Probability." BetPrep.com, 23 June 2021, https://betprep.com/futures-odds-how-to-calculate-and-understand-implied-probability/.[5] Bell, Daniel. "Implied Probability in Betting: Explained." Betarama, 6 Sept. 2021, https://betarama.com/how-to-calculate- implied-probability/

That's your guide to the exciting world of futures betting! Happy betting, and may your long-term bets lead to big wins!

Alex Windsor | Managing Editor

Alex, a ten-year iGaming industry veteran, focuses on sports betting and betting tools at our website. He ensures accuracy of offers, maintains content quality, and provides expert reviews. With a passion for football and soccer, Alex is a reliable resource for betting tools, offering insights into odds, accas, and other betting strategies.

Live it up, and may your long-shot bets result in striking victories! Viva la futures betting!

If you're keen on football, you can bet on the NFL Regular Season winner, the NCAA Football Championship, or even individual player awards like the NFL Most Valuable Player.
In the world of basketball, you can place futures bets on the NBA Playoffs winner, the NBA Finals MVP, or the NCAA Men's Basketball Championship.
For baseball enthusiasts, MLB futures bets include the World Series winner, the MVP, and the Cy Young Award winner.
If you're into hockey, you can bet on the Stanley Cup winner, the Hart Memorial Trophy (MVP), and the Art Ross Trophy (leading scorer).
In golf, you can bet on major championship winners like the Masters, the PGA Championship, the US Open, and The Open Championship.
When it comes to tennis, futures bets include the Grand Slam tournament winners like Wimbledon, the French Open, the US Open, and the Australian Open.
If mixed-martial-arts (MMA) is your sport, you can bet on the UFC championship winners or the Fight of the Year.
Racing bets are also part of the futures betting landscape, where you can wager on the winners of races like the Kentucky Derby, the Indianapolis 500, or the Daytona 500.
Last but not least, while American football (NFL) is a popular choice, don't forget about basketball (NBA), baseball (MLB), hockey (NHL), tennis, golf, mixed-martial-arts, and even sports like racing, where futures betting opportunities abound, offering the chance to make long-shot bets and potentially score big wins.