Definition:
In sports betting, a futures bet is a wager placed on an outcome that will be decided in the longer term, usually weeks or months ahead. Common futures markets include league champions, MVP awards, win totals, or season-long player stats.
They serve two main purposes:
Allow bettors to invest in long-term outcomes rather than single games.
Provide higher payouts due to the uncertainty and extended timeline involved.
Real-World Example
NFL Season Futures:
A bettor places $100 on the Kansas City Chiefs to win the Super Bowl at +600 before the season starts.
If the Chiefs win the championship, the bet pays $600 profit ($700 total return).
Another bettor wagers $50 on Joe Burrow to win MVP at +1200.
If Burrow wins, the bettor profits $600 ($650 total return).
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