What is meant by futures betting?
Here, you’ll find our other bets guide, covering futures, props, live betting and valuable gambling markets. Bettors ignore these too often. The mistake most gamblers make is sticking with the markets they know and are comfortable with, even if they don’t bring success. It’s time to stop.
In understanding the other betting markets available, you will increase your knowledge of a new online sportsbook like future bet. This happens while improving your chance of landing a profit. There are hundreds of additional markets and specials bets. But how do they work, what are the costs and which are the best? Are you ready to place a futures bet? You’ll find all the information you need on this page to do just that.
The big three
Today, we focus on our favourite three “other” markets; future, props and live betting available at online sportsbooks. By the end of this page, you’ll know the attractions of these markets. Examples of how to use them in your favourite major sports and the steps involved in placing a bet. How do betting futures work? That’s right; we even address your faqs.
Don’t forget to bookmark this page for future reference. Handy when trying a new type of betting market. You’ll also find similar helpful articles and betting guides on the top sports, competitions and markets.
Futures betting explained
The clue is in the name here. We are betting on future outcomes or be, such as the winner of the English Premier League, Super Bowl or next year’s Kentucky Derby. In many cases, the top betting sites offer odds and accept bets on the winner of sports tournaments. The thing is, these are published weeks and months in advance. Do this in the off-season or at any campaign stage. It’s known as betting on futures or futures sports betting.
Why would you bet on an event or market that won’t have a result for a while? To get better odds. When gambling on futures, the earlier you bet, the greater the odds attached to the betting lines of interest to you. Some people refer to this as line shopping.
Super Bowl Futures
Let’s take the Super Bowl as our example here, although it’s popular in NBA, MLB and others. If you reload, make your predictions, and place a bet before week one, you’ll get better odds than what is available to those waiting until the day of the game.
That’s because there’s more risk involved, but the rewards are worth shooting for. A team may start the season as a 7/1 favourite, but those odds may be cut to 3/1 when the market leader makes it to the playoffs.
Sports betting odds are fluid, with traders adjusting their offers to reflect a team’s form, league standing, fixtures and any injury news. So, sports bettors must also be ready to react. You’ll see the odds drift if a favourite goes on a losing streak. If an outsider enjoys a winning streak, their odds will drop. The odds on the favourites should move steadily, but you will see a bigger swing when looking at the underdogs on sports betting sites.
Let’s look at some more sports betting futures.
NFL wins futures
The above concerns betting at the bookies on an outright market, like to win the Super Bowl, but you can also play futures on the NFL match-up. An example of a futures bet on the NFL would be a team to make the playoffs, player of the season, or match betting, where you gamble on one team to finish higher in the conference than another.
Oddsmakers working at the best gambling sites have many options, and it’s worth being aware of and understanding how they work. This will improve your chances of landing a profit from your sportsbook bets.
We look at an example of this below.
Below is an example of how a totals bet may look on your sports betting app;
Arizona Cardinals, Los Angeles Rams
Over 9.5 -120 Over 7 -130
Under 9.5 -110 Under 7 Even
The above is a great example of a futures bet as it gives you a long-term interest, and the team involved doesn’t need to win anything or even secure an extended season. As long as they finish over or under the amount set by the traders, you can land a profit.
Look at the lines created by the leading names in the BetOnline sector, like Bovada listed at MyTopSportsbooks, such as LA Rams over/under 7, and have your say. Suppose you expect them to perform well this season, back the overs. If you predict a challenging year, take the under option. It’s a season bet within a season bet.
Hedging your bets
Another attractive attribute of futures is the opportunity to hedge your bets down the line. A hedge is when you bet against a future bet you’ve already placed to guarantee a profit. Let’s say you put a $100 bet on the Cleveland Indians before the 2016 MLB playoffs at 8/1 (+800) odds, meaning you would win $800 if the Tribe won the World Series.
The Indians went on to reach the World Series, underdogs against the Cubs, who were -190 favourites. At that point, you had two betting options: (1) stick with the Indians and pocket $800 if they prevailed but get nothing if they lost, or (2) bet a substantial amount on Chicago, guaranteeing yourself at least a small profit, no matter the outcome.
Let’s look at the numbers in practice.
If you went with option (2) and bet $380 on Chicago at -190, you would win $200 if the Cubs won the World Series. Subtract the $100 futures bet you put on Cleveland, and you’d still be $100 in the black.
If the Indians won, you’d make $800 on your futures bet and lose the $380 you wagered on the Cubs, amounting to a $420 profit ($800 – $380). There are plenty of variations on how to hedge, from just covering your initial wagers to figuring out how to get the same return no matter who wins. For the latter, use the equation below.
Sometimes your best bets aren’t always the best bets. But you can fix that. The cash-out feature offered by the best sportsbooks is a real crowd-pleaser and is one of the newer types of bets. It’s a market that has changed how we gamble on sports forever. Place your cash or free play wager – we’ll use five-team parlays from the English Premier League fixtures as our example – and you’ll notice a cash-out value added to your bet.
At first, the cash-out value will equal your stake but will rise and fall depending on how well your selections perform. Let’s say you place a $10 bet on five teams to win; the cash-out offered before kick-off will be $10. If four teams are winning and one team is drawing with 20 minutes remaining, the offer amount to cash out will be worth considering. Let’s say the potential winnings of the bet is $1000.
Here’s how to cash-out
- Follow the match and monitor the cash-out offer
- When the cash-out reaches an acceptable value, it’s time to act
- Click the cash-out value and then confirm
- There will be a slight delay as the traders wait to see if anything changes
- Your request will be accepted and the funds due paid to your account
You now have a question to answer. Do you let the bet play to a finish in the hope all four teams currently in a winning position stand their ground while the one team that’s drawing goes on to win? You then bag the $1000, but if one or more teams fail to win, your bet will be a loser. And then the bookie keeps your stake.
But cash-out gives you another betting strategy.
Example of cash out
With 20 minutes remaining and four of five teams winning, you have a cash-out of $600. Do you take the money and run or wait it out? If you decide to cash out, traders settle the bet, and the amount goes to your balance. The result then doesn’t matter.
Please note you can’t cash out online sports betting wagers when using the sign-up bonus free bet promo. This is sometimes the case with some apps shown at MyBookie. The reason for this is past misuse by bettors who opened an account, made a deposit and placed a wager to qualify for the free bet. They would then place the welcome bonus free bet on any favourite, wait a while and then cash out. Any money collected could then be used for future bets. Withdraw to a debit card, e-wallet or crypto account. This is no longer possible following changes to the terms and conditions.
Please check the T&Cs relating to any free bets and promotions for new players to check the latest rules.
Making prop bets
A “prop” – aka proposition bets – is a side bet tailored to specific events and outcomes within a single game. You will find these bets when you click the “more bets” option on an event. Props aren’t their type of bet, however. They will always resemble a type of bet we’ve already covered. But it’s still helpful to look at them in isolation.
Since there’s so much going on in any major sporting events, a wide variety of props will be available. Some will focus on specific players, some will focus on teams, and some will focus on the broader game. You can even make parlay prop bets.
Test of speed
Most of the pre-match betting markets remain with the odds updated to reflect the score and flow of play. Below are some of the markets available to bet on live;
- Winning margin
Pay close attention
Watch the match on TV or in the stadium and monitor the in-play betting markets and odds. You can do this at the firms shown at gtbets. If you see a pattern emerge, such as two offensive teams, you can react by placing a bet on the over points – for example – before the in-play trader realises and clips the odds.
Gambling live using your betting bankroll is a battle of wits and patience that burns between the trader and the bettor. The perfect in-play bet is one done at the right time, giving you the best odds possible with the smallest risk to your stake. It’s always a bonus when you cash out your bet for a healthy profit and then watch on as your selection loses. In the past, a losing pick would have cost you dear. That’s no longer the case.