Types of Sports Bets: Future Bets and Propositions

Normally when you bet on a sporting event, it is either at the time of the event (sometimes live while the event is in-play) or close to the time of the event.  But sometimes you may want to bet far in advance of an event.  When you wager on an event at a specific time and date in the future, you are placing a “future bet”, also known as an outright bet. Future bets are usually placed on annual sporting events.  Payouts are dispersed after the applicable season is over. 

A similar type of wager is known as a proposition bet.  Proposition bets are often just called “props” for short.  While future bets are usually placed on annual events, proposition bets are generally placed on special events.  Payouts are dispersed to the winners after the event is over. 

Odds may change radically for both of these types of wagers for the simple reason that they are placed so far in advance.  Events during the course of a season can have a dramatic impact on future games.  All bets placed are final, though, and if you lose, you lose.  You may even lose if a particular team or player does not make it to the annual or special event where you wagered on them to win!  All odds are final as well.  Even if the odds change radically after you place your bet, you get the odds which were in place when you made your wager. 

These types of bets can be fun and lucrative, given the right set of circumstances, but they are also very risky.  It is incredibly hard to predict wins and losses so far in advance of the actual events.  So place these bets with caution, understanding the risks involved, and try and be strategic about your timing so you get the best odds.