A futures bet is a term used by bookmakers and gamblers to refer to a wager on an event that is determined in the not-so-immediate future.
Typically a futures bet is regarded as being season long, with the classic example being the ability to wager on who will win the Super Bowl at the beginning of the NFL season. However this is most always the case.
What is a futures bet?
Bookmakers tend to class their offerings in to three categories:
- In play or live betting. – Wager offerings for events that are live and in play at that particular moment in time.
- Upcoming. – Events and fixtures that are in the not so distant future ie. the next scheduled game fixture (usually occurring within a 14 day period)
- Futures. – Any fixture or event that proceeds the upcoming game.
Why wager on a futures bet?
The more time between the wager and the occurrence of the event, the more factors are possible that could influence the outcome. This presents more perceived risk to the selection in question. Therefore the odds tend to be more appealing as the immediate action unfolds.
Depending on how the team/individual performs involved in the selection during the upcoming action will then determine which way the odds go from that point (either up, down or remain the same).
The person placing the wager could either find themselves in a better position than if they had waited, or a worse one. That is all supposed to be part of the risk, fun and enjoyment of it all. Offerings by all respected bookmakers (we only recommend respected and trustworthy bookmakers on our site) tend to be fair and reflect accurately the probability of the outcome at that exact moment in time. Therefore, if a strong team that has been on a winning streak when a futures bet is placed then goes on and unexpectedly loses in their upcoming fixture, it is fair to assume that the odds for the selection will unfortunately get stronger.
If this does happen there is still the option available to place another wager on the same selection at the stronger price. However this would also lead to staking more than maybe initially intended. If confidence exists that the outcome will still ring true, the extra spend may well be worth the risk, as this would lead to maximising the returns. A sensible strategy if the wager goes on to win, but only reasonable as long as this extra stake doesn’t topple the enjoyment.
It’s important to remember that just as any wager has the ability of winning, it also has the ability to lose and nobody likes to lose. Especially when they cannot afford to do so. Gamble for enjoyment when you are in a position to do so and when you are enjoying the experience. Never gamble as a means to and end.