Placing wagers on an event that will take place in some distant future is usually called a future betting. To have a clear picture of the concept one may think of the World Series. When it comes to the World’s Cup, people make bets long before the championship is actually held. The bookmakers take bets on a variety of things, like who’ll be the next world champion, who’ll be the finalist, which head coach will be fired, etc. Up to the moment the future betting market is represented by a number of sportsbooks sites and covers a whole variety of leagues.
Using different sites (line shopping)
One thing you should clearly realize as a bettor is that various sites offer various odds. In order to get the best odds one needs to conduct a small research not to miss some of the unique opportunities. Sites like http://oddsdigger.com/ offer them on a permanent basis. So, with future betting, don’t be lazy to check all of those and compare the lines. By doing so you might have a chance to get higher winnings.
Calculating the no-vig win probabilities
Vig or vigorish is the percentage, the bookmakers add to their odds in order to have higher profit and cover the risk. Some bettors when using the “Moneyline converter” find that the probabilities of each team winning in total exceed 100%, showing the figures of 115-120% or even higher. That happens due to the vig being included in the lines. To know the actual probability one needs to divide each break even percentage (a risk-reward ratio) by the given figure. The figure is called the overround in the bookmakers’ circles. The higher is the overround, the lower are the chances to win and vice versa. As the practice shows, it goes higher than 100% in the majority of cases. However, if it happens to be lower, it opens a good arbitrage opportunity for a punter. And using it leads to substantial winnings.
Note that you can do all the calculation manually if needed. Check here, there are sections devoted to the topic. Following the procedure step by step often provides a more clear view of the matter.
One can’t neglect the fact that the future bets are usually not as profitable as the regular parlays. Again, it all refers to the higher vig, inherent to futures. If you’d like to win some money quickly, you should start with betting on sports events that take place every now and then. Once you’ve got your payout, you may think of going further and switching to future betting. But until then you better stick to something less complex.