Who’s going to win the next Super Bowl? NBA new season is starting in October, but which team is going to win which match? With every new tournament, starts the chain of endless possibilities. Many people give their opinions on how the tournament is going to go with each match. Some are even willing to bet on it even before the matches start. This is what we call “future betting”.
Future Betting Explained
Future bet is a wager placed on a game that is going to happen in the future. It is mostly done on the end result of a tournament but nowadays, future betting can be made on almost any game that is going to happen in the future.
A game that is going to happen next week does not entertain future betting. It has to be something with a long-term outcome. For example, at the end of the tournament, which team will have the lowest ranking? Which team will win the NFL final? Which team will get qualified for the finals?
All of these events are not occurring in the near future, therefore, you can place future bets on these.
How future betting works
Before the season starts, you have to lock your bets on a certain event. An odds compiler will set the odds on charts and you can bet however you want to accordingly. These odds are adjusted throughout the season according to season results, injuries, and even wages placed against each event.
The bettor bets are locked before the season and only the odds change. We have explained all of it and to see more here.
Future betting payout calculation
To know the future betting payout, you first have to know about odds.
Every event has different odds of it happening. The bets are placed according to those odds. There’s a list before a tournament starts normally ranked from best chances to win to the worst. Abet placed on the team with best odds of winning will give the least payout and the one with the worst chances will give the most payout.
The odds for favorites are listed with minus(-) sign with them and a number that tell you how much you should bet on a team to win $100.
With certain odds, there’s implied probability of that team winning. This is also calculated before the event takes place. As mentioned in last paragraph, the wages on a team with better odds or the team with the best implied probability will have lower risk and hence better payout.
For example, (in american odds language) you are betting on a team with odds -800 and your friend is betting on a team with odds +400. This means that you have to bet $800 and in case you win, you earn $100 in addition to your original wage $800. That earns you $800+ $100= $900.
Now your friend bets 2x$400 on his team, he is betting a total of $800 just like you. If his team wins, he’s going to earn $100+$400, and another $100+$400 with his bet earning him a total of $1000.
Future betting is very rewarding on every scale. The question is, are you ready to bring your A game in it.