Futures betting is a popular and exciting way for sports enthusiasts to place wagers on long-term events. Whether you’re an AFL fan, an NRL follower, or a fan of global sports like the NFL, NBA, or golf, futures betting lets you predict the outcome of significant events months in advance. This guide covers everything you need to know about futures betting in Australia, providing insights on how it works, its advantages and disadvantages, and how to make the most of it.
What is Futures Betting?
Futures betting, also known as outright betting, involves wagering on the outcome of a long-term event or competition. Unlike traditional bets placed on single games, futures bets focus on the overall winner of a league or tournament. For example, you could bet on the winner of the AFL Grand Final, the NRL Premiership, or even the Super Bowl months before the event.
In simple terms, futures betting lets you predict which team or player will succeed in a competition that unfolds over time.
How Does Futures Betting Work?
Futures bets are placed on an event’s outcome, such as who will win a season-long competition. Bettors place wagers long before the event begins, which often means higher odds than betting on individual games. Here’s how it works:
- Pre-Season Bets: Futures markets are available for sports like the AFL or NRL before the season starts. You can place a bet on which team you think will win the Premiership or the Grand Final before any matches have been played.
- Long-Term Investment: Futures betting is a long-term commitment. Your money is tied up until the event concludes, but the potential for higher returns draws bettors in. For example, you might bet on a player to win the AFL Brownlow Medal before the season starts, and if they perform well, your odds could improve as the season progresses.
Common Types of Futures Bets in Australia
- AFL Futures: Wager on who will win the AFL Premiership, the AFL Brownlow Medal, or who will top the AFL goal-kicking leaderboard.
- NRL Futures: Bet on the winner of the NRL Grand Final, the NRL Dally M Medal for the best player, or who will be crowned the NRL Rookie of the Year.
- International Sports: Place bets on global events like the Super Bowl (NFL), NBA Finals, World Cup (Soccer), or even individual events like The Masters in golf.
- Horse Racing Futures: Bet on horses to win major races like the Melbourne Cup long before the event occurs. Some betting markets open even months ahead of these prestigious events.
How do you place a Futures Bet in Australia?
- Choose Your Event: Decide which event or competition to bet on. Typical markets include the AFL Grand Final, NRL Premiership, Super Bowl, and World Cup.
- Select Your Outcome: Predict which team or player will win the event. For example, bet on the Richmond Tigers winning the AFL Grand Final or the Sydney Roosters taking the NRL title.
- Check the Odds: Futures bets offer high odds, especially before the season starts. For example, betting on a team at the start of the season may provide odds for +1000 or more, but as the season progresses, the odds will shorten for teams performing well.
- Place Your Bet: Once you’ve chosen your outcome, place your bet with your preferred bookmaker. Check the available cash-out options in case you want to lock in your profits early.
Pros of Futures Betting
- Higher Odds: Futures betting offers significantly higher odds than traditional betting markets. The earlier you place your bet, the higher the odds, which can lead to bigger payouts if your prediction is correct.
- Time to Research: Futures bets give you ample time to research teams, players, and form. This allows you to make more informed decisions and increase your chances of placing a successful bet.
- Cash-Out Options: Many bookmakers offer cash-out options for futures bets. This allows you to lock in profits early or limit losses if your bet is unlikely to win as the event progresses.
Cons of Futures Betting
- Money Tied Up: One major downside of futures betting is that your money is tied up for an extended period. You won’t know whether your bet wins until the event concludes, so it’s unsuitable for bettors looking for quick returns.
- Limited Betting Markets: Futures betting markets are more limited than in-play or pre-match betting. For example, once you place a futures bet, you’re often stuck with that bet until the event concludes.
- Takes Time to Settle: Unlike single-event bets, which settle quickly, futures bets can take months. If you enjoy faster-paced betting, futures may not be your ideal market.
Can You Bet each way on Futures Bets?
Yes, you can place each-way bets on futures markets, particularly in sports like horse racing and golf. This means you’re making two bets: one on your selection to win and another on your choice to place (i.e., to finish in the top positions).
For example, if you bet on Cameron Smith to win The Masters, you could place an each-way bet. If Smith finishes in the top 5 (according to your bookmaker’s terms), you’ll win the place portion of your bet, even if he doesn’t win outright.
Best Sports for Futures Betting in Australia
- AFL: Betting on the Premiership Winner, Brownlow Medal Winner, or Top Goal Kicker.
- NRL: Wagering on the Grand Final Winner, Dally M Medal, or NRL Rookie of the Year.
- Horse Racing: Futures bets on Melbourne Cup, Cox Plate, or Golden Slipper.
- Global Sports: Super Bowl (NFL), NBA Finals, FIFA World Cup, or The Ashes.
Futures Betting Tips for Australian Bettors
- Do Your Research: With long-term bets, you have time to gather data and make informed decisions. Research form, injuries, and team dynamics before placing your future bets.
- Bet Early for Better Odds: Placing future bets before the season starts often provides the best odds. As the competition progresses, the odds shorten for teams and players performing well.
- Diversify Your Bets: Don’t just focus on one outcome. For example, you could place a futures bet on the AFL Grand Final winner and who will win the Brownlow Medal.
- Monitor Changing Odds: As the event progresses, odds fluctuate based on team or player performance. Monitor these changes to place additional bets or cash out early.
Conclusion
Futures betting offers Australian sports fans a thrilling way to get involved in long-term events. With higher odds, ample time for research, and exciting possibilities, futures betting is a great way to engage with sports like AFL and NRL and international events like the Super Bowl or FIFA World Cup. Remember to bet responsibly and use your knowledge to place well-informed bets that could yield significant rewards.
