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Future Betting

By: A. Aguilar
Jan 11, 2010

Bookmakers offer gamblers the chance to bet on the outcomes of a sports season. For example, which team will win the Spanish League, Stanley Cup or the Eastern championship in the American League of baseball. This is known as a "futures book" or future bets.

To illustrate this, let's discuss the future bets for the Super Bowl. Bookmakers publish a list of each NFL team with their respective probabilities to win the championship. For example, the Ravens may have a probability of 5 to 1, the Redskins 12-1, the Cardinals 100 to 1, etc. If you bet $10 on the Redskins and they win the Super Bowl, you get $120 plus the $10 of your bet for a total of $130. It doesn’t matter if your team covers the difference in the championship game or not; for future bets, the team only has to win the Super Bowl.

When you make a future bet, your chances are "frozen." That is, if you bet the Redskins to 12 to 1, you get paid 12 to 1 odds, even if the sportsbook adjusts the odds later to 6 to 1, for example.

Future bets are also available during major racing events such as the Kentucky Derby and Breeders Cup. In future bets on horse racing, if your horse does not start the race, ether due to injury or any other reason, you lose the bet and there are no refunds. At the same time, the odds of your future bet in horse racing also are "frozen", regardless of the odds of your horse on that specific day.

Some bookmakers offer future bets with unusual propositions, like who will be the player with most goals this season. Note that in this type of bet, all wagers go the despite injury or other unexpected events. Another type of future bet includes betting on the major/minor number of successful matches that a particular team gets during the regular season. These bets are available mostly in professional football and major league baseball. For example, the major/minor for the Ravens could be 10 wins. If the Ravens win 11 games or more, a bet on a "major" outcome wins. If they win 9 or less, a "minor" bet is the winner. If they win exactly 10 games, the bet is a draw and the stakes refunded.

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