Futures bet
A bet on something decided way down the road, like the Stanley Cup champion, that ties up your money until it settles.
Futures (pari à long terme) are bets on the big picture: who wins the Stanley Cup, who takes the division, how many points a team finishes with. You bet in October, and you might not know if you won until June.
Example: Habs to win the Cup
Say the Canadiens are +5000 to win the Stanley Cup (illustrative, not a pick). You put $10 on it.
- If they lift it, you make $500 profit and get $510 back.
- The implied probability is 100 / 5100 = about 2.0%.
Sounds fun, and for $10 it can be. Just know what you're paying for.
Why futures cost more
Add up the implied odds on all 32 teams and you'll usually land way over 100%. That extra is the book's overround, and on futures it's much bigger than on a single game. You're paying a premium for a long shot that sits there for months.
Your money's locked up
Your $10 is gone from your balance until the market settles. If you deposit with Interac and like to keep your bankroll moving, think about how much you want parked on one ticket. Some books let you cash out a future early, usually below what it's really worth.
Quick tips
- Prices move after trades and injuries, so the number you got in October can look great or terrible by March.
- Stick to books with a solid record of paying out, since you're trusting them for a long time.