A futures bet, similar to a prop bet, is a defined outcome bet such as yes or no, up or down, over or under, heads or tails, etc. Futures bets are distinct because bettors are betting on events that are quite some distance into the future.
Items we might place futures bets on:
- Who will win hockey’s Stanley Cup?
- Will Michael Phelps return for the next summer Olympics?
- Which college football player will be the first pick in the NFL draft?
All of these bets would be placed months or, sometimes, years in advance of the event.
Futures bets pay favorable odds. You can expect odds that are at least 5:1 or 10:1 on a futures bet.