What is Futures in Sports Betting?

Futures Explained in Detail

Futures markets open well before a season starts and remain active throughout. You can bet on the Super Bowl winner before the season, during the season, and even during the playoffs, though the odds change dramatically as teams are eliminated and the field narrows.

The main appeal of futures is the potential for large payouts. Betting on a longshot team to win the championship before the season at +5000 means a $20 bet returns $1,000 if they win. Even moderate favorites at +600 or +800 offer attractive returns compared to single-game bets.

The tradeoff is that your money is locked up for a long time, and the house edge on futures is typically higher than on game-by-game bets. Sportsbooks build in a larger margin on futures because they are harder to set accurately and represent more risk for the book. The hold percentage on futures markets often exceeds 20%, compared to roughly 5% on standard game lines.

Savvy bettors use futures as part of a broader strategy. One common approach is to bet futures before the season when the odds are longest, then hedge as the season progresses if your team is still in contention. This locks in a guaranteed profit regardless of the final outcome. Another approach is to look for value after a team has a slow start but is still fundamentally strong.