NYC sports betting: What is a future bet? How do they work? – SILive.com

STATEN ISLAND, N.Y. -- Tired of betting day by day? Looking for a longterm bet with a potentially huge payout?

Welcome to the world of future bets.

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Like the name implies, future bets allow gamblers to wager on longterm outcomes that wont be decide until a later date.

Most future bets center around end-of-season results, like which team will win their division, which team will finish with the best regular season record or which team will ultimately be crowned champion.

Because the field is so wide for future bets, with numerous teams all capable of finishing with the best record or winning the championship, bettors will typically receive plus-money odds when betting futures, even when wagering on the projected best teams.

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For example, lets take a look at the futures odds for the 2022 MLB World Series.

The Los Angeles Dodgers are currently listed as the favorites to win the upcoming World Series, according to the latest odds from FanDuel.

However, despite being viewed as the most likely winner, the odds are still listed at +600, meaning a $100 wager would win $600, should the Dodgers take home the title.

And the odds only get more and more lucrative as you go down the line and bet on other contenders, dark horses or long shots.

For example, the Chicago Cubs are currently listed at +15000, meaning a $100 bet would result in a $15,000 win, assuming the team were to go on an unforeseen run to the title.

Like all other odds, futures odds are set by determining the projected probability of an outcome and then setting corresponding odds based on that projected probability.

The +600 odds being offered on the Los Angeles Dodgers means sports books are currently projecting the team to have a 14.29% of winning the World Series, while the +15000 odds on the Chicago Cubs means that teams World Series chances are projected to be just 0.66%.

Note: Online/mobile sports betting is now legal in New York state, but wagers on in-state college teams, such as St. Johns and Wagner College, are still prohibited for both home and road games even if played in another state.

If you or a loved one has questions or needs to talk to a professional about gambling, call 1-800-GAMBLER or visit 1800gambler.net for more information.

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NYC sports betting: What is a future bet? How do they work? - SILive.com