Betting the Futures
For any of those bettors that may be inexperienced or simply have never heard of the term Futures before, no need to worry. The term “futures” is used as a present bet, but it bases the payout on a future event, and usually happens when betting on a sports event, and in this case the NFL. In other words, a bettor will take a look at the odds that are given to an NFL team, even before the season has even started and will place a bet on them. This bet will not payout until the end of the NFL season, as in when the winner of the Super Bowl is determined. Most of the time, while the preseason, regular season, and the playoffs are being played, the odds are constantly updated and replaced when necessary. This could in fact, change the wager that the bettor had initially placed, and as such the bettor needs to be very careful when placing any kind of futures wager. The number one priority a bettor should have is weighing the value of the bet versus the possibility of it occurring. The odds may be slightly worse for the Denver Broncos to win the Super Bowl, but if the stats and team play tells the bettor that they could in fact win, then the bettor could end up earning a big payout. As I said, it is a risky wager when it comes to Futures, which is why everything needs to be considered before placing a bet.
NFL Futures Factors
There are many different aspects of the game that need to be taken into consideration when wanting to place a wager on the NFL futures. There are several factors that come into play when wanting to lay down a future bet such as Value vs. Risk, Line Shopping, and Tying up Money; as well as picking the right type of future bet. By looking at these general factors, bettors can start to consider futures as a form of betting.
Value vs. Risk
As mentioned before, making a future bet is all about weighing the value versus the risk. This is how many types of bets happen, but none are as long term as a future bet. The fact is that a bettor will be placing a wager now, but won’t see or get a payout until the end of the NFL season when a Super Bowl champion is determined; this could take up to 5 months. During those 5 months, a lot of things can happen. Things like injuries, trades, change in coaching staff, and even a change in management could affect the overall standing of a NFL team. Think of how many different aspects of the game can be affected, and expand that over the 5-month, 16+ games, and that is how much the odds could change; either in your favor or against.
This is why bettors need to assess the risk vs. reward of a future bet. If a bettor is very confident, after doing the research and analyzing the stats, and places a bet on a team with projected low odds, they could end up winning a big payout. For instance, instead of placing a bet on a favorite, the bettor decides to bet $100 on the New York Jets that have 28/1 odds. This would mean that if the Jets win, the bettor would get $2,800; which is not a bad payout at all. However, there is a much higher risk of the Jets not winning, and that would mean the bettor would lose $100. What the bettor needs to weigh is if he is willing to lose $100 for a slight chance of winning $2,800. As I said, Value vs. Risk.
Line Shopping
With any kind of bet, but especially future betting, it is crucial for the bettor to go line shopping. This means not putting all your eggs in one basket. There are numerous sportsbooks that are available online, and each may have different odds for the NFL teams. This is a big advantage for a bettor, as they can place one or more bets on the best odds they can find; this way they can maximize their potential payout. It not only increases the chances of getting paid more, but also helps understand what the public opinion is when it comes to picking a future Super Bowl champion. Even though it isn’t fool proof that public opinion is correct, it is a good starting point. So, always have more than one choice when placing a future bet to get the most out of your money.
Tying up Money
Future bets, as explained before, are long term bets that take at least 5 months to pay out. Just like with any long term investment, the person cannot touch the money. Once a future bet has been placed, it is impossible to change it after the fact. This is why it is important to take into consideration the two factors mentioned above, and make a well-thought decision. For some bettors it may be best to only place a small wager on a future bet, anywhere from $100 to $300 if the bettors bankroll can afford it. However, for those bettors that have a smaller bankroll, it may be safer to simply place wagers on the other forms of betting.
Different Future Bets
There are several types of future bets when talking about the NFL and a bettor can decide to pick one over the other depending on their preference. They have the three general types which are done to determine the winner of the 2013 Super Bowl, and the winners of the AFC and NFC Championships. They also have it split into bets by Divisions, and as any NFL fan should know there are 8 divisions in total; 4 in the AFC and 4 in the NFC. Thus determining the winner of each division is also a future bet. Obviously, by betting on the Division winner’s carries less risk, as there are fewer teams to pick from, so this kind of wager could be preferable for the more cautious bettors. For the riskier bettors, they could go on and try to pick the 2013 Super Bowl champ.
