Ready to start placing some savvy futures bets? Here are some tips and tricks to keep in mind as you do so.
Shop Around For Odds
Always look around to find the most advantageous lines. If you have access to one sportsbook, chances are you have access to many more legal and live sportsbooks.
Every sportsbook has a different theoretical hold, aka the amount of money it expects to make on a futures market. The higher the hold, the worse the odds tend to be. Always seek out the highest-paying line on your preferred futures market and place your bet there. A difference of $5 in a payout may seem small, but those things add up over time.
Know When To Wait
Not feeling like the line is just right? Hold off. You can always place your bet later and hope for a better potential payout. If your team is on a losing streak but you don’t think it’ll last, wait until the peak of that streak and palace your bet when the odds are highest.
Know When To Strike
Conversely, know when the time is right to go for your preferred bet. If your team starts with long odds but you think they’re on the up-and-up, place your bet to get locked in with a solid payout.
Use Bonus Money
If you have bonus site credits in your account, either from a deposit match bonus, a risk-free bet, or a rewards program, consider using that for futures bets. The odds typically offer a high payout, so even a small bit of bonus cash can go a long way towards an excellent win. Plus, you don’t need to shell out your hard-earned cash to place an already risky bet.
Hedge When Necessary
I’ve said it a few times already, but it’s worth repeating. Don’t be afraid to hedge if you think it’s the smart play. If your team is out of the running but you’ve got a decent shot at recuperating your loss with a savvy hedge, it can be a great strategy.
Avoid Home Team Bias
I’m a Chicago Bears fan. See where I’m going with this? I may love the Monsters of the Midway, but I’m smart enough to realize their chances of nabbing a Super Bowl victory (or even making it to the Super Bowl in the first place) are slim to none for the next few seasons at the very least. Try to squash your bias and place smart, educated futures bets. They’re already risky enough without your fandom coming into play.
Now, if your home team is the Chiefs, you may have a smart bet on your hands.