What Is a Futures Bet? Season-Long Odds

A futures bet is a wager on a long-term outcome decided in the future, such as which team wins the championship or a player's season award. Because the result is far off and uncertain, futures odds are often long, and your money is tied up until the market settles.

How does a futures bet at +1500 pay?

Definition. A futures bet fixes a price today on an outcome decided weeks or months later.

Worked example. $50 at +1500: profit = 50 x 1500 / 100 = $750, total return $800. Implied chance = 100 / 1600 = 6.25 percent. If the team later moves to +600 (100 / 700 = 14.29 percent implied), your ticket still pays at +1500.

How futures work

Books post odds on every contender for a season-long outcome, like the title or a most-valuable-player award. You lock in the price when you bet, so backing a team early at +2000 keeps that payout even if their odds shorten after a hot start. The trade-off is that your stake is committed for weeks or months.

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A worked example

You bet $100 on a team to win the title at +1500 in the preseason. If they win, you collect $1,500 in profit regardless of where their odds sit by playoff time. If they fall short, the stake is lost. Because futures fields are large, the combined prices carry a hefty built-in margin.

Getting value on futures

The best futures value is usually early, before the market sharpens, on teams the public underrates. As the season unfolds, you can hedge a live futures ticket to lock in profit if your team reaches the final. Just remember the vig on big futures markets is steep, so the price you lock in matters even more.

Frequently asked questions

When should you bet futures?

Often early, before the market adjusts, on underrated teams. Prices are longest before a season starts and shorten as favorites emerge.

Can you cash out a futures bet early?

Some books offer cash-out, or you can hedge with a separate bet to lock in profit if your team advances. Otherwise futures settle when the outcome is decided.

Your next step

1Learn itFutures (this page)
2Apply itSports betting for beginners →
3Run itBetting Splits →
4Master itDay 1: The Wise Guy Code →

Related terms

Hedging: Hedging a bet means placing a second wager on the opposite outcome of a bet you already have, so you come out with a profit or a smaller loss whichever way it goes, at the prices you got.
Moneyline: A moneyline bet is a straight wager on which team or player wins the game, with no point spread involved.
Vig (Juice): Vig, short for vigorish and also called juice, is the commission a sportsbook builds into its odds.

Betting Splits →Full glossary →

21+. For entertainment and educational purposes, not financial advice. If gambling stops being fun, take a break. 1-800-GAMBLER. Regulated US books only.