Excitement fills the air as the start of a new sports season nears. Delight is found in conversing with fellow fans about the possibilities of upcoming games.

Now that sports betting has been officially legalized and regulated in Illinois, you have the opportunity to place wagers on your predictions. This type of betting, known as futures betting, gives you the ability to make predictions on the outcomes of games as if you were looking into a crystal ball.

In this article, we will discuss all the essential information about the futures market.

What are futures bets?

Placing a futures bet means wagering on a result that won’t be decided until a later date. These markets, known for attracting a large amount of bets, are active year-round.

Examples of this include predicting the champion of the upcoming Super Bowl, figuring out which team will have the upper hand in March Madness, or selecting the victor of the next Masters Tournament. Typically, sportsbooks will release odds long before the event takes place.

Afterwards, the Illinois sportsbooks will share their thoughts. Examining the futures market can offer a glimpse into the betting market’s sentiments on specific teams and players. Although futures bets cannot be redeemed until the event is over, they have the potential to yield substantial profits.

Latest futures odds

The futures market is active year-round and sees consistent betting in popular markets, causing the odds to often change.

Staying updated on the most recent odds may seem difficult, but our live odds feed makes it easy. You can customize it by sport and event to view the latest numbers from different operators.

Are futures bets available for all sports?

In general, futures bets are focused on prominent sports and major events, attracting the majority of wagers from top team-based and individual sports on sportsbook apps and websites. This trend also applies to futures betting.

If you are a fan of popular sports such as the NFL, NBA, golf, and tennis, you will find a wide variety of futures bets to choose from. On the other hand, if you enjoy more niche sports like cycling or cricket, the betting options may be more scarce.

How to bet on futures in Illinois

The first step in placing a futures bet is to choose the market where you want to place your bet. You can usually find future betting lines by selecting your preferred sport from the list of available options and then looking for the tab that displays current futures offerings.

For example, to bet on the winner of the upcoming Super Bowl, you would need to click on the NFL link and then find the futures tab.

The upcoming Super Bowl odds will be featured in the listings, with the top favorites listed as follows after discussing the bet.

Kansas City Chiefs +450

Baltimore Ravens +550

Tampa Bay Buccaneers +850

To place a bet, start by clicking on the box that shows the odds for the selection you want. Your bet will automatically be added to your bet slip. Once you enter the amount you want to wager and verify all information, click ‘submit’ to confirm your bet.

Futures betting odds explained

Odds for team-based events are typically released during the offseason, with major markets like the Super Bowl seeing odds for the following year’s game shortly after the conclusion of the current game.

Futures for individual player events such as a golf major or tennis Grand Slam will be released well in advance of the competition, with odds assigned to all expected participants.

Futures odds are usually shown in a descending order on sportsbooks’ boards, with favorites at the top, long-shots at the bottom, and other options in between. These numbers can fluctuate as the betting market responds.

Keep in mind that futures odds can differ between sportsbooks. For example, the Buccaneers’ odds to win the Super Bowl may be different at DraftKings in Illinois compared to FanDuel.

You can always choose to look for the best odds. Our live odds feed can be a helpful tool for comparing lines.

How to calculate potential returns on futures bets

Determining potential returns is quite simple since the majority of futures market odds are positive numbers. A positive number indicates the potential earnings from a $100 winning bet.

For example, if you bet $100 on the Chiefs to win the Super Bowl at odds of +450, you would make a $450 profit if they win. Likewise, a $100 bet on the Ravens at odds of +550 would result in a $550 profit if they are successful, and the pattern continues for other teams.

Below are the formulas used to calculate potential return:

• If the odds are positive, the profit can be calculated by multiplying the wager amount by the odds and then dividing by 100.
• To determine profit when odds are negative, divide the wager amount by the negative odds divided by 100.

There are many free handicapping calculators that can be found on the internet. Simply enter your bet amount on the bet slip to see your potential return. Just be careful not to submit your bet before you are ready.

Illinois sportsbook rules for futures

While there are many standard betting rules in the industry, sportsbook operators in Illinois may have unique approaches to certain situations. It is important to have a grasp of the key aspects of futures betting in the state.

• Futures bets will only be settled once the final outcome is decided.
• In the event of a cancellation of a season or event, all future bets on those markets will be considered null and void, and the wagers will be refunded.
• Official league data is used to determine the results of bets placed on season-long props or team win totals.

These rules cover the majority of possible scenarios, but it is important to understand that individual books may have their own unique rules for certain situations, like player injuries. For more specific information, refer to the house rules for futures at the book you are playing in.

Examples of futures bets in sports

The futures market offers a plethora of betting opportunities, but it is wise to familiarize yourself with how it works before placing your bets. Let’s delve into some specific examples for popular sports.

NFL futures betting

The NFL futures betting market is incredibly popular and offers a range of opportunities worth considering.

• Teams that have emerged victorious in the Super Bowl, conference championships, or divisional competitions.
• The number of wins each team achieved during the regular season.
• Accolades and statistical accomplishments of individual athletes.

If you’re thinking about betting on the league MVP winner at the end of the season, the odds could be displayed as such:

Patrick Mahomes +200

Russell Wilson +400

Aaron Rodgers +600

If bettors place a $100 bet on Wilson at +400 odds and win, they would receive a total return of $500, which includes their original $100 wager and a $400 profit.

NBA futures betting

As the new NBA season approaches, there are many future bets to consider, and the odds board gives insight into the betting public’s predictions for the upcoming year. Here are some potential wagers you may come across:

• Teams that have emerged victorious in the NBA Finals, conference championships, or division titles.
• The total number of wins each team achieved during the regular season.
• Players and leaders who have won awards for their outstanding statistical achievements.

If you’re looking to bet on an NBA team to win the Western Conference this season, the odds for the favorites could be listed like this:

Los Angeles Lakers +150

Los Angeles Clippers +350

Denver Nuggets +500

If you think the Clippers will make it to the NBA Finals this year, placing a $100 bet at the current odds could result in a $350 profit. Be sure to regularly check for updated odds as the season goes on.

MLB futures betting

Discussions surrounding the MLB offseason are commonly known as “hot stove” talk. Individuals interested in betting on MLB games can explore various potential outcomes through the futures market, such as:

• Teams that have emerged victorious in the World Series, their league, or their division.
• Forecasts for the number of wins each team will have in the regular season.
• Individual players who have won awards and lead in their respective categories.

Chicago Cubs fans looking to ramp up their enthusiasm and commitment for the upcoming campaign may consider placing a bet on the team’s regular-season win total.

Over 5 (-120)

Under 5 (+110)

This bet works like a totals bet, where the oddsmakers set the standard and you choose to either go over or under. Keeping an eye on the odds for these bets can help you see which side is getting more betting action.

NHL futures betting

The NHL futures market allows you to place bets on various markets at any time. Here are some of the popular options to consider:

• Teams that have emerged victorious in the Stanley Cup, conference, or division.
• Combined sum of regular season victories and points.
• Winners and outstanding players in the game.

The main determinant of NHL futures is predicting the next Stanley Cup champion. Here are the betting odds for a select few potential winning teams:

Vegas Golden Knights +700

Colorado Avalanche +800

Tampa Bay Lightning +900

Making the right bet at the perfect moment and selecting the victorious team has the potential to generate a significant profit. For example, if you were to wager $100 on the Avalanche winning the Cup and they come out on top, you could earn $800 in return.

College football futures betting

While the college football season may be short-lived, you can stay involved year-round by exploring betting options through future opportunities.

• The team is aiming to win the national title, make it to the College Football Playoff, or come out on top in their conference.
• Total wins for each team throughout the regular season.
• Recipients of the Heisman Trophy and other accolades.

There is always a lot of interest in the national title picture and playoff contenders. In the offseason, odds are often released showing the favorites to win, which generally follow a similar pattern.

Clemson +200

Alabama +300

Ohio State +400

Similar to all futures markets, you can choose to support a favorite or pick an underdog. For example, if Notre Dame has odds of +4,000 to win, a $100 bet on these odds would result in a $4,000 return if successful.

College basketball futures betting

While March Madness is a highly anticipated betting event each year, college basketball offers much more than just this tournament. The futures market for college basketball remains active all year round. Additionally, there are several other annual options for betting on college basketball.

• The team aims to win the national title, make it to the Final Four, or emerge victorious in the conference.
• The number of wins each team accumulated throughout the regular season.
• Recipients of Player of the Year and various other awards.

It is expected that the Final Four teams will include some of the top contenders. The odds for a couple of favorites may be as follows:

Gonzaga +150

Villanova +200

Baylor +250

Choosing the winning side in $100 bets can result in a nice profit, but it’s important to remember that futures betting requires a patient approach. The outcomes, including wins and losses, will only be determined once the event is completed.

You can now place bets on Illinois, Northwestern, DePaul, or Loyola Chicago at retail sportsbooks within the state, but online betting is still prohibited.

Golf futures betting

There is a growing interest in golf among betting circles, particularly in futures betting markets focused on the winners of the four major tournaments.

• British Open
• Masters Tournament
• PGA Championship
• US Open

As we anticipate the upcoming Masters, the odds for the top contenders could be as shown:

Bryson DeChambeau +800

Jon Rahm +950

Rory McIlroy +1,100

Keep in mind that the odds on the board are constantly changing leading up to the event. If you spot a potential underdog early on and place a bet before the rest of the market catches on, you could potentially win big if that golfer ends up winning the Masters.

Tennis futures betting

Tennis and golf are both experiencing a surge in popularity, with much speculation surrounding the winners of their respective Grand Slam events.

• Wimbledon
• US Open
• French Open
• Australian Open

Tennis odds are available for both male and female players who may be competing. For instance, the top contenders in the women’s division at Wimbledon could be listed as:

Ashleigh Barty +700

Serena Williams +900

Bianca Andreescu +800

The futures market offers potential profits for successful bettors and serves as a valuable research tool. Before handicapping a tennis tournament, analyzing the futures odds board can provide valuable insights into the favored players.

What other futures markets are available?

The main factors influencing the futures market are the markets we have identified, although there are other opportunities that also attract significant attention. For instance, in NASCAR, it is common to place bets on the winner of the Daytona 500 or the overall season champion.

There are betting markets in soccer for winners of competitions like the MLS Cup, Premier League, World Cup, and other international tournaments. Sports betting futures cater to all types of punters.

How to handicap a futures bet

When handicapping futures bets, the process differs slightly from analyzing individual games and events. It involves taking a more long-term perspective and considering how an entire season may play out. Additionally, you must predict the outcome of a competition that will not occur for several months. Here are some useful tips for handicapping futures bets.

• Keep an eye out for potential dark horse candidates: While the futures market typically showcases strong favorites and midrange contenders, there is often hidden value in lesser-known options. Take the time to investigate potential underdogs that have the potential to exceed expectations. A winning bet at long odds could result in a significant payout.
• Don’t be afraid to spread out your risk: When looking at futures betting odds, it can be helpful to divide the board into top picks, potential winners, and dark horses. As you do your research, try to find options from each tier. When it’s time to place your bets, choose your favorites from each category. This approach will not only make things more exciting but also increase your chances of making a profit down the line.
• Make sure to compare prices: While the starting futures odds at big operators might seem similar, they can fluctuate. By taking the time to compare prices at different outlets, you can find extra value. Keep in mind that our futures odds feed combines the latest figures from multiple books in one easy-to-access location.

When you begin betting on futures, it is important to avoid certain actions. Here are some things to steer clear of.

• Avoid placing all your bets on one outcome. While it’s important to have confidence in your choices, remember that there are no guarantees in sports betting. When making long-term bets, consider spreading your risk across multiple options.
• Avoid using necessary funds: When participating in futures betting, it is important to have a long-term perspective. The money you are using for these bets should be kept separate from your regular betting funds. Only bet amounts that you are consistently comfortable with. It is important to gamble responsibly and not exceed your limits.
• Don’t be swayed by the hype surrounding preseason favorites. While some teams and players may receive a lot of attention from the media, it’s important to do your own research before making any bets. Trust your own judgment rather than following the crowd.

What to remember about futures betting

Enthusiasts can stay engaged with their favorite sports year-round by participating in the futures market, where they can place bets on outcomes that will be decided at a later date. This includes predicting the next NBA Finals champion or the winner of Wimbledon next year.

In the offseason, odds are initially released and the market remains fluid, resulting in notable fluctuations in the numbers. It is advisable to compare prices to find the most favorable ones. A well-timed futures bet has the potential to generate impressive returns.