Easy Does It: Props and Futures Betting Basics
“What will Nicole Richie and Joel Madden name their first baby?”
“Who will win the 2008 Presidential Election?”
“Who will win the Super Bowl this year?”
Proposition bets (or props): Unusual betting opportunities that can add a new level of excitement to whatever it is that you’re watching, be it a major celebrity, sports or television event.
Futures: Odds posted in advance on the winners of various major sporting events, including the World Series, NBA Championship, Stanley Cup, and Super Bowl, and can also be a valuable source of entertainment.
How to Bet on Futures
If you don’t have a big enough bankroll to tie up your funds for months at a time, then betting futures may not be the way to go for you. But if you do have some money to set aside (for the duration of the NFL football season, say) then betting futures can be very profitable. For example, let’s say you were to put down $500 on the Cleveland Browns to win the 2008 Super Bowl. At 125/1 odds to win, if the Browns pull off a miraculous season and become this season’s champs…well, you’d be in for quite a nice pay day.
Although easy to bet on, the general rule with futures bets is the earlier you bet, the higher your payoff. As the season progresses the odds on your team to win the Super Bowl will undoubtedly change…possibly for the worse.
Keep an eye out for injuries, for teams that are struggling early on, and for teams that get off to a hot start. There are a lot of bandwagon fans out there and if they all bet on one team the odds can be driven way down.
Not sure who to go with? Check the schedule before you place your futures bet. If you see a team with a relatively easy schedule and you think they can bang off five straight wins, you may want to throw some money down as soon as possible.
How to Bet on Props
A prop bet is a wager that is not directly related to the final score of the game (or event).
For example, fantasy sports are totally hot right now and if you bet on certain players who you think might be in for a good game or season, props are a great way for you to profit on your fantasy team.
Not interested in sports? Entertainment props are also extremely popular. By betting on your favorite reality TV show or your favorite celebrities you’re adding a new element of fun to your entertainment dollar.