One of the most exciting wagers that people can place are futures bets. These are exactly as what they mean, literally. Any decent pay per head bookie will be offering a variety of betting options for futures betting. But as profitable as it is, futures bets need a bit more monitoring than other wagers. We’ll explain why. But first, let’s talk about what Futures Bets are.
Sports betting futures is a market that is available year-round, due to the nature of the wager. What happens is, you release odds for the outcome of championships, or a title of a major sport event. This wager can be made as far back as a before the season is out, and as soon as the schedule is announced. So, throughout the season, the lines will change as different factors will affect the wager.
The best pay per head software will allow you to control the futures wagers you offer, as well as line movement. And since futures wagers take a long time to conclude, it will move a lot. There are different factors that will affect how you move your lines. First of which, of course, is the team or athlete’s performance throughout the season. Usually, suspensions and injuries can make or break a team’s chances of getting into the championship.
Betting patterns can also affect the line movement of a futures bet. For instance, if we are betting on which team can get to the NBA finals – the LA Lakers or the New York Knicks. The Lakers would be a popular option, especially for recreational bettors. And if there are too many wagers on one side of the line, your job as a bookie is to balance that out. This means you need to adjust your lines to make sure that the other side of the bet is more attractive.
Futures Bets: Your Market
Doing this can be quite hard, which is why usually, the juice or the vig on futures bets are higher than other wager types. This tends to discourage sharps, and takes on recreational bettors betting on their favorite teams more. But getting people in on futures bets can help you retain players in the long-term. For one, the outcome of the wagers will take up to 6 months to happen. In between then and now, bettors would want to reduce the risk of their futures wagers by betting throughout the season to augment any possible losses. Which is, of course, good for the sportsbook, as you are getting a higher frequency of wagers from each player.
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