Betting Futures and How They Can Be Profitable

Betting futures are exactly what they sound like. You place a wager now, to get great odds on a future payoff. For example, if you believe strongly that the New York Yankees will win this year’s World Series, place a bet on them now to win it. Don’t wait until they make it to the World Series when they are one of only two teams remaining. You won’t get very good odds then. Place the bet now while there are still 30 teams with a shot at it.

If you had placed a bet this time a year ago on the St. Louis Cardinals, you’d be sitting pretty right now. Of course, had you placed a bet on the Cardinals in the beginning of September, you could have gotten them at 1000-1. Timing is everything when betting futures. Of course, betting on 1000-1 shots is sort of like winning the lottery. Those do not pay off very often.

If you are going to bet futures, be smart. Here are some tips for you:

1. Don’t bet what you cannot afford to lose. OF course this goes for all gambling, but especially futures betting. These bets are almost like playing the lottery. The odds are low.

2. Pick something that actually has a chance. You can bet a small amount on the Royals to win the World Series, but you and I both know it will never happen. But it doesn’t hurt to put a couple of bucks down on them in case a miracle happens. But also play a team that has a shot, but may not be the favorite. I like the Miami Marlins, especially after the slow start they’ve gotten off to. Another good one? The L.A. Angels. There is a lot of talent there and they are in last place. You can get great odds.

3. Stay away from everybody’s favorite team, the Yankees. The more people bet on them, the worse odds you get. Many people bet their hearts. So the odds you get with the Yankees does not necessarily reflect their capabilities of winning. In other words, not worth the risk.

Of course, these principles can be applied to all sports, not just baseball.

See 2012-2013 NCAA Basketball Futures