Futures betting by definition is wagering on the outcome of a specific event that takes place sometime in the future. This could be betting on something that is months or years away or it could even be next week or a few days away.
When it come to futures betting the most popular bets are on championships. You know the Super Bowl and World Series we listed off earlier. Throughout the season, or even before the season begins, sportsbooks like Bodog will set odds on who will win the Super Bowl or who will win the World Series and these odds will be updated throughout the season as teams go through hot or cold streaks or major players get injured.
You might have heard about the guy who bet on the St. Louis Cardinals to win the World Series at 999-to-1 when they were barely in the playoff race in August 2011. That is an example of futures betting. It is also an example of how lucrative futures betting can be when something highly unexpected happens.
In sports the highly unexpected happens more often then you would think – just ask the 2011 World Series champion Cardinals or the 2011 NCAA Basketball champions Connecticut Huskies. Some other recent big futures payouts include the 2010 San Francisco Giants, the 2005 Chicago White Sox, the Super XLII champion New York Giants and one of the biggest stunners in decades, the Super Bowl XXXIV champion St. Louis Rams.